The New York Times - paywall - 3 Sep 2017
A good story has much more evocative power than a piece of dry analysis. This article based on a single example does a great job at explaining the source of rising inequality, the decline in social mobility and the resulting social angst. The bottom line: in the 21st-century economy, many millions of workers find themselves in the following situation: “Rather than being treated as assets that companies seek to invest in, they have become costs to be minimized” (reads in 7-10 min).
Published in Weekly selection 8 September 2017
Project Syndicate - 1 Aug 2017
The Nobel laureate gives three explanations for the disconnect between widespread political dysfunction and relatively strong economic and financial-market performance. (1) Institutions built over time now limit the capacity of political leaders and legislators to affect the economy. (2) Risks are rising faster than perception of them. (3) The inequality of opportunity and outcomes that have fueled popular discontent and political polarization are finally getting the attention they deserve. If the last one proves to be correct, there is cause for some optimism (reads in 3-5 min).
Published in Weekly selection 4 August 2017
The New York Times - metered paywall - 24 Jun 2017
In the flurry of articles written daily about AI, this one stands out for its clarity and insights: it is a written by a venture capitalist who also happens to be the president of the Artificial Intelligence Institute. Long story short: AI will “decimate” many jobs, will increase inequalities globally and will overwhelmingly benefit China and the US to the detriment of everybody else. To conclude optimistically, Lee offers an intriguing idea (reads in 5-7 min).
Published in Weekly selection 30 June 2017