Bloomberg - 9 Apr 2018
The editorialist argues that Amazon is a symptom, not the cause, of the “retail apocalypse” currently engulfing the US. First, the US has a huge excess of retail space (surpassing all other developed nations by a wide margin: 23.6 square feet of retail space/person versus 4.6 in the UK). Second, price sensitivity is a natural response to decades of wage stagnation. Third, the younger generations are changing their consumption habits. An interesting and short read (5 min) with lessons for the rest of the world.
Published in Weekly selection 13 April 2018
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