Vox - 29 Jan 2018
In our December Barometer, we said that Trump is likely to be re-elected. This article explains why: “Trump is making us a little more like him, and politics a little more like the tribal clash he says it is”. The reason why so many people seem unable to understand the US President’s appeal is their ignorance of “Trump’s law”: attention creates value. This is a must-read article. In short: analysts and pundits ignore Trump’s achievement and the unprecedented nature of his success at their peril (reads in 7-9 min).
Published in Weekly selection 2 February 2018
Project Syndicate - 10 Jan 2018
For a combination of economic and political reasons, the global economy in general, but the US in particular, is ill prepared to respond to a possible recession. The economist explains why. Contrary to the past, policymakers have little or no room to respond by cutting interest rates, reducing taxes, and boosting transfers to the unemployed and other casualties of the downturn (reads in 3-5 min.)
Published in Weekly selection 12 January 2018
The New York Times - paywall - 5 Oct 2017
In the US (it’s also true in some other advanced economies), there is mounting evidence that some scars from the recession may never fade. Despite unemployment at 4.8%, more than 1.5 million workers have disappeared from the economy, many falling into poverty and drug addiction. Many economists believe that recessions now do permanent damage to the economy: the recession pushes people out of the labor force, but the recovery alone may not be enough to bring them back (reads in 5-7 min).
Published in Weekly selection 6 October 2017