The green energy revolution is making greater progress than expected. Solar and wind power have seen exponential cost declines, and electric vehicles seem to be a market winner. That’s all good news, but improving green energy is not the same as addressing climate change. There is good chance that even optimistic projections for green energy will come true — and carbon emissions will continue to increase.
The pandemic has prompted a rethinking of many practices and routines of professional life, such as working from home, meetings and interviewing online. Now another such pastime is ripe for a reassessment: the face-to-face conference.
Crypto markets still have many puzzles, but they are beginning to reveal their secrets. The last few months of chaos show what Bitcoin and other crypto assets are good for: They are advanced tools of globalization, luxury goods for complex, well-functioning markets — not protections against the depredations of hostile governments.
Wartime reporting typically focuses on troops in combat, civilians in the crossfire or, sometimes, the effect of sanctions. But behind the scenes more decentralized mechanisms are exerting their influence, often based on economic logic. These forces are mostly working against Russia and for Ukraine.
Sometimes yesterday’s crazy idea turns out to be sane or even essential. For instance, Fischer Black, the late finance economist and co-discoverer of modern options pricing theory, argued that the rate of price inflation will be whatever we think it will be.
Crypto prices are tumbling. By one account, crypto assets have lost about $1.35 trillion globally since November, with some falling in price by 80% or more. Many investors feel a real pinch.
TikTok is now the most popular website in the world, by one measure, and as such its influence on how young people see and think about themselves is attracting ever more attention. I am an economist, so I would like to focus on a considerably more narrow subject: what TikTok’s videos say about how young people see and think about economics.
To envision the future of crypto, I keep trying different analytical tools. This time around the concept of relevance is focality, by which I mean the part of the system at which consumers direct their attention.
“The Beatles: Get Back” documentary, which is my pick for best movie of the year, showcases an underappreciated aspect of Paul McCartney: He’s more than just an artistic genius — he’s one of the greatest managerial talents of the last century.
Is there a gender-based promotion gap? Are there too many women who do well on the job, but are not considered seriously for career advancement?
Economists have gotten a lot wrong over the course of this pandemic, and long before that, but there is one whose ideas have never looked better: Milton Friedman, the Nobel laureate who died in 2006.
Why, exactly, is higher inflation so bad? That simple question stands as an embarrassment for the economics profession. We all feel that an inflation rate of 6.2% is undesirable, but we are not very good at explaining why.
Most Americans believe that the economy is getting worse, and economic confidence measures are low. At the same time, as analysts have pointed out, a lot of the economic data look pretty rosy.
The “China shock” was one of the most significant economic events of the last two decades in America. Most of the shock is now over — Chinese imports are competitive with much of the output of U.S. manufacturing, and China has already displaced many U.S. jobs — but there is a new and possibly larger shock on the horizon. Call it “the teleshock.”
In my travels, which thankfully are becoming more frequent again, I increasingly find myself returning to a mystifying question: Why has our advanced, modern and wealthy world ceased building beautiful neighborhoods?
A new strain of Covid-19, more contagious than previous strains, is now circulating in dozens of countries. Other new strains, such as one first detected in South Africa, will almost certainly emerge. Aside from the challenges these mutations pose to public health, they will also be a test of our moral and political principles.
As Bitcoin soared to above $28,000 over the weekend, talk resumed about the promising and dramatic future of cryptocurrency. The chief global strategist of Morgan Stanley Investment Management even suggested that Bitcoin could replace the dollar as a global reserve currency.