Who’s wealthier, a Maasai elder or your average American?
Brief thoughts on the rise of the intangible economy
The best podcast episodes I listened to in 2017.
Is Congress to blame for the “death of graduate school” or is it universities’ failure to heed price signals?
The American boy of 1854 stood nearer the year 1 than to the year 1900. The education he had received bore little relation to the education he needed. Speaking as an American of 1900, he had as yet no education at all. He knew not even where or how to begin.1 If science were to […]
Why Quantitative Easing increased inequality, and we knew it would ex ante
In The Reckoning, I suggested that the decades-long squeeze on labor still has room to run, particularly in light of two technological trends: the growing adoption of robotics and the emergence of 3D printing. Two interviews released this week lend credence to the continuing squeeze.
Unsustainable economic trends will lead to populist politics and demagogues (Jan 2014)
Last month, FT Alphaville’s Izabella Kaminska picked up a potent critique of free-market capitalism from Pope Francis’s first Apostolic Exhortation.1 I must confess, I’m not a regular reader of papal exhortations—indeed, papal pronouncements of any variety tend not to make my “to read” list2—but the snippets Kaminska selected gave me pause.