Later this century, when economic historians compare the “Great Recession” that started in 2007 with the Great Depression that started in 1929, they will arrive at two basic conclusions.
America certainly has a different kind of president than what it is used to. What distinguishes Donald Trump from his predecessors is not just his temperament and generalised ignorance, but also his approach to policymaking.
The fact that inflation has remained stubbornly low across the global North has come as a surprise to many economic observers.
In a recent appearance here at the University of California, Berkeley, Alice Rivlin expressed optimism about the future of economic policymaking in the United States. What Rivlin—who served as Vice Chair of the US Federal Reserve,
According to standard economic theory, redistribution only comes about when a country's exports require vastly different factors of production than its imports. But there are no such differences in today's global economy.
People today enjoy not just abundance, but an unprecedented variety of choices, which constitutes a significant boost to overall wealth. But just how significant is that boost?
The world economy is a more equal place for the average individual today than it was in 1980. This is partly thanks to a series of strong leaders, such as those in China since Deng Xiaoping, and in India since Rajiv Gandhi.