In just one year, inflation in the United States has fallen from a peak of about 9% to just 3%. Standard economic models suggest that such rapid disinflation would be possible only with a large increa ...More
EJ Insight2023-08-18
Disruptive technologies are rarely welcomed by workers or others with a significant stake in the status quo. Innovation requires adaptation, and adaptation is costly. Powerful incumbents’ resistance t ...More
EJ Insight2023-08-17
As Western governments face the increasingly urgent task of accelerating the transition to a low-carbon economy, the pendulum has swung away from a heavy reliance on markets to drive innovation toward ...More
EJ Insight2023-08-17
What a difference two years make. In 2021, when interest rates were near zero in the United States and the United Kingdom and slightly negative in the eurozone and Japan, the consensus was that they w ...More
EJ Insight2023-08-16
In May, the US Environmental Protection Agency proposed new power-plant rules that would effectively require every existing coal- or gas-fired plant in the United States either to capture and store mo ...More
EJ Insight2023-08-15
US President Joe Biden and his team get little credit for their management of the American economy. Aware that the 2024 presidential election, like most, will turn on economic conditions, or perceptio ...More
EJ Insight2023-08-14
This year marks the halfway point for implementing the Sustainable Development Goals (SDGs), the ambitious set of global targets introduced by the United Nations in 2015. These 17 goals, devised to ad ...More
EJ Insight2023-08-14
The COVID-19 pandemic and the war in Ukraine have caused commodity prices to soar in recent years, severely undermining global food security. Now, global food prices are down from the peaks of a year ...More
EJ Insight2023-08-11
The global economy is addicted to the relentless – and unsustainable – extraction of natural resources. Yet despite our complete dependence on nature, its contribution – for example, the water used to ...More
EJ Insight2023-08-09
Who should pay for Ukraine’s postwar reconstruction? Shortly after Russia’s invasion, my co-authors and I estimated that it would cost roughly €200-500 billion ($220-550 billion) to rebuild the countr ...More
EJ Insight2023-08-08
As Western governments face the increasingly urgent task of accelerating the transition to a low-carbon economy, the pendulum has swung away from a heavy reliance on markets to drive innovation towa ...More
EJ Insight2023-08-07
International trade has boosted economic growth in many countries, especially those without abundant natural resources or fixed capital. In addition to creating opportunities for cross-border specia ...More
EJ Insight2023-08-04
Suppose that you had invested your wealth in a broadly diversified set of stocks, starting in January 1871, with the dividends being rolled back into your portfolio, and with your portfolio being reba ...More
EJ Insight2023-08-03
It shouldn’t make sense. Donald Trump has just been indicted on four criminal charges, including defrauding the United States and conspiring to deprive Americans of their voting rights. Trump also fac ...More
EJ Insight2023-08-03
My current visit to Israel has coincided with a period of unprecedented political turmoil. A radical right-wing government’s package of legislation to disempower the judiciary has started to be adopte ...More
EJ Insight2023-08-02
In his inauguration speech in May, Nigerian President Bola Tinubu announced the end of the country’s decades-old fuel subsidy. This is not the first time that Nigeria has attempted to abandon the poli ...More
EJ Insight2023-08-01
Will the United States be number three in the new world order? In his forthcoming book, former journalist Hugh Peyman argues that it will: China’s economy has already surpassed that of the US by some ...More
EJ Insight2023-07-31
In the fall of 2021, monetary economists in the United States were sharply divided between those who believed that high inflation would be short-lived (Team Transitory) and those who insisted it was h ...More
EJ Insight2023-07-28
The rapid march of artificial intelligence is not only disrupting conventional notions of work. It is also changing the essence of human identity. Whereas previous technological developments altered h ...More
EJ Insight2023-07-27
If you are looking for an argument in West Africa, try asking which country serves the best jollof. While Senegalese can claim to have invented the popular rice-based dish, Nigerians, Ghanaians, and o ...More
EJ Insight2023-07-25
