What the OECD sees in store for the global economy. Inflation surprises fuel populist support. Find the creativity burgeoning below the algorithms. Why domesday ‘prepping’ is innately American. The healing power of music.
QUOTE OF THE WEEK
“Music boosts the immune system” (Daniel Levitin in the last article)
ARTICLE OF THE WEEK
Craig Sterling, World Is Facing Dangers From Trade to Debt, OECD Warns
(Bloomberg, 4 December 2024)
A quick overview of what the latest OECD report says on the global economy. The OECD chief economist thinks the world economy will grow by 3.3% in each of the next two years. The rising risks on the downside: (1) tensions and protectionism, (2) escalation of geopolitical conflicts, and (3) challenging fiscal policies in some countries. The crux of the issue: “We believe very strongly that in the next few years it’s crucial to have a medium-term plan, to have fiscal discipline and to bring debt back on a downward trajectory” (gifted article, 4-5 min).
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J. Federle et al., Inflation surprises and election outcomes
(Kiel Economic Institute, 4 December 2024)
This is the short summary of a new study showing that when inflation unexpectedly outstrips the growth of real wages, it not only affects voting behaviour but also increases popular discontent. In short, both unexpectedly high inflation and weak economic growth significantly boost the electoral performance of extremist and populist parties. An important finding which suggests that populist appeal is unlikely to abate any time soon (free access, 2-3 min).
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Kirby Ferguson, The Algorithm Has Been Hiding Something From You
(NYT video, 30 November 2024)
A 5 min video that explains why we live in an era of cultural sameness, in which “everything looks the same, sounds the same, is the same.” The filmmaker argues that our culture often appears to be plagued by a dearth of creativity, but beneath the surface of mainstream culture, there is a world of wild imagination waiting to be discovered (free access).
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Robert Kirsch and Emily Ray, Bunkerised society – why prepping for end times is so American
(Psyche, 26 November 2024)
There are more than 20 million Americans who engage in prepping. The authors of the forthcoming “Be Prepared: Doomsday Prepping in the United States” posit that far from being at the fringes of US society, prepping is at the core of an American mythology of yeoman frontiers people, from the Boy Scouts of America to the contemporary homestead movement. Bunkerisation as a process also plugs into the broader US phenomenon of mass consumption as Americans are asked to purchase their way to safety (metered paywall, 4-5 min).
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Kevin Berger, That Healing Sound
(Nautilus, 29 November 2024)
An interview with Daniel Levitin about his latest book: “I Heard There Was a Secret Chord: Music as Medicine.” The neuroscientist and musician explains and expands on the seemingly magical effects of music therapy. Music relieves depression; it soothes and tranquilizes us; it helps people with Alzheimer’s disease to relieve anxiety; and much more. For this to work, “you have to like the music. You have to choose it yourself” (metered paywall, 6-8 min).
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