The common story about downward mobility is one of bad luck: recent generations have the misfortune of coming of age during an economic downturn, a student debt crisis, declining job security, and, now, a pandemic. Of course, these factors relate to downward mobility, but they are not all that matters. The truth is that many […]
Air pollution continues to be a serious problem in many cities around the world in part because of a steady increase in car use. In an effort to contain such a trend and persuade drivers to give up their cars in favor of public transport, authorities increasingly rely on limits to car use. Some places […]
Cost-benefit analysis is a key component of the US regulatory state. How it works and the function it plays in policymaking is not widely understood, however. Even the most substantive media outlets rarely discuss it. But cost-benefit analysis is a linchpin of the regulatory process. Its structure and role—and its flaws—should therefore be grist for […]
Gender matters for policymaking: there is no better evidence than the experience of four women who, twenty years ago, became ministers in charge of international development in their governments and collaborated to develop new approaches to end global poverty. Eveline Herfkens from the Netherlands, Hilde F. Johnson from Norway, Clare Short from the United Kingdom, […]
Frank Ramsey, the great Cambridge philosopher, economist, and mathematician, was a superstar in all three disciplines, despite dying at the age of 26 in 1930. One way to glimpse the sheer genius of this extraordinary young man is by looking at some of the things that bear his name. My favourite was coined by Donald […]
Many compare the Great Recession to the Great Depression for its severity and scale. Yet, a decade later, it is clear that their consequences on the distribution of economic resources in the United States cannot be more different. The decades following the Great Depression substantially reduced the wealth of the rich and improved the economic […]
According to McKinsey & Company, 84% of executives agree on the importance of innovation in growth and strategy in their organizations but only 6% know the exact problem and how to improve in innovation. As the world is moving faster and getting more complex, it is important to find ways to constantly innovate for organizations and […]
The poor who lack jobs often suffer from substance abuse, violence, and unstable families. As the suffering persists for many of these outsiders to our system, scholars and politicians on both the left and right ask how to reform or overturn our current economic system so that all can flourish. The Great Fact of economic […]
In mid-August, 2019, 183 leaders of some of America’s largest companies—AT&T, American Airlines, Johnson & Johnson, JPMorgan Chase, Chevron, Caterpillar, Citigroup, and John Deere—issued a “Statement on the Purpose of a Corporation” under sponsorship of the Business Roundtable.
Board-level employee representation has re-entered the political agenda. Even in countries that have traditionally been skeptical about giving employees more say in corporate decision-making now discuss board-level employee representation. Former UK Prime Minister Theresa May suggested changes in this direction in her country in 2017. More recently, Senator Elizabeth Warren, one of the leading presidential […]
It has been over a decade since the global financial crisis of 2007-2008, which threatened to destroy the financial system, and wreaked havoc on the financial well-being of households, firms, and governments.
Africa’s GDP growth is projected to accelerate to 4.0 percent in 2019 and 4.1 percent in 2020. The economy continues to improve in future. The study of African economy consists of trade, agriculture, finance and employment.
Contemporary labour markets are characterised by more atypical or alternative work arrangements. Some of these – like independent contractors – have emerged in the context of self-employment, while others – like zero hours contracts and temporary work – are evolutions of traditional employment contracts.
Two centuries ago, in 1820, Asia accounted for two-thirds of world population and more than one-half of world income. The subsequent decline of Asia was due largely to its integration with the world economy shaped by colonialism and driven by imperialism. By 1962, its share in world income had plummeted to 15%. Even in 1970, […]
Philosophers once predicted that religion would die out as societies modernize. This has not happened. Today, more than four out of every five people on Earth believe in God. Religion seems to be serving a purpose that modernization does not replace. New research finds that people become more religious when hit by natural disasters. They are more likely […]
Housing has become unaffordable for all but the lucky few in many of the world’s great cities. Who can afford to live in New York or Paris? Yet, housing prices can be kept in check. Some cities have succeeded in doing so, as we shall see. The secret is simple: housing supply, which can be […]