Nobel laureate in economics, and Professor at Columbia University. His most recent book, co-authored with Bruce Greenwald, is Creating a Learning Society: A New Approach to Growth, Development, and Social Progress.
What kind of economic system is most conducive to human wellbeing? That question has come to define the current era, because, after 40 years of neoliberalism in the United States and other advanced economies, we know what doesn’t work.
Kirstjen Nielsen's forced resignation as US Secretary of Homeland Security is no reason to celebrate. Yes, she presided over the forced separation of families at the US border, notoriously housing young children in wire cages.
In the last few years, globalisation has come under renewed attack. Some of the criticisms may be misplaced, but one is spot on: globalisation has enabled large multinationals, like Apple, Google, and Starbucks, to avoid paying tax.
It's old news that large segments of society have become deeply unhappy with what they see as “the establishment”, especially the political class. The “Yellow Vest” protests in France, triggered by President Emmanuel Macron's move to hike fuel taxes in the name of combating climate change, are but the latest example of the scale of this alienation.
The trade skirmish between the United States and China on steel, aluminium, and other goods is a product of US President Donald Trump's scorn for multilateral trade arrangements and the World Trade Organization, an institution that was created to adjudicate trade disputes.
In 1967, riots erupted in cities throughout the United States, from Newark, New Jersey, to Detroit and Minneapolis in the Midwest—all two years after the Watts neighbourhood of Los Angeles exploded in violence. In response, President Lyndon B Johnson appointed a commission, headed by Illinois Governor Otto Kerner, to investigate the causes and propose measures to address them.