More in Global Economy


2 months

What is Complexity Economics?

What distinguishes "complexity economics"? W. Brian Arthur offers a short readable overview in "Foundations of complexity economics" (Nature Reviews Physics 3: 136–145, 2021).

2 months

Do Riskier Jobs Get Correspondingly Higher Pay?

The idea of a "compensating differential" is conceptually straightforward.

2 months

Inflation, Money And Supply Bottlenecks

“The constant refinancing of debt from companies of doubtful viability also leads to the perpetuation of overcapacity because a key process for economic progress, such as creative destruction, is eliminated or limited”.

2 months

Inflation is Back: American Consumers Are Worried

The University of Michigan consumer confidence index fell to 82.8 in May, from 88.3 in April.

3 months

Interview with Christopher Pissarides: Unemployment and Labor Markets

Michael Chui and Anna Bernasek of the McKinsey Global Institute interview Christopher Pissarides (Nobel, '10) "about how he developed the matching theory of unemployment, how COVID-19 affected his research, and what might be in store for labor markets after the pandemic" (May 12, 2021, "Forward Thinking on unemployment with Sir Christopher Pissarides"). At the website, audio is available for the half-hour interview, along with an edited transcript, upon which I will draw here.

3 months

Is the Pandemic Worse in Lower or Higher Income Countries?

It seems obvious that the COVID-19 pandemic must be worse in lower-income countries.

3 months

The Slow Magic from Agricultural R&D

For much of human history, a majority of people have worked in agriculture.