In The News

We’re in a Low-Growth World. How Did We Get Here?

Neil Irwin August 8, 2016
Economic growth increases wealth and improves living standards, driven by additional workers, work hours and technological advancements that increase productivity. But economic growth and income have slowed for the world’s most advanced economies, and the trends contribute to rising inequality and populist movements. Economists are trying to determine if supply or demand issues contribute to low...

Will This Be the Happiest Place in the World?

Louise Redvers August 5, 2016
People who don't need to resort full attention to survival turn to more fulfilling pursuits including happiness. The United Arab Emirates is intent on developing itself as a place of happiness, by appointing a state minister, renaming some departments, and selecting 60 officials to travel overseas to study the state of mind and how it spreads. “Currently ranked 28th out of 156 countries...

Consumers Unlikely to Rescue China's Sputtering Economy

Huang Zhilong August 2, 2016
Economists, inside China and outside, point to consumer spending on an expanding services for economic growth. But that requires borrowing and Chinese consumers may balk at taking on more debt, explains economist Huang Zhilong for Caixin. Huang points out that Chinese household debt is already at historic highs and consumers lacking official urban residence permits loan may struggle with loan...

Global Elites Must Heed the Warning of Populist Rage

Martin Wolf July 21, 2016
Dissatisfaction runs high in many of the world’s most advanced economies – and many voters are turning to leaders who encourage nationalism, protectionism and other extreme policies, explains Martin Wolf in the Financial Times. He points to studies showing “Stagnant incomes bother people more than rising inequality.” Economic recessions, aging populations, rising inequality, immigration and...

The Presidential Candidates Get Globalization All Wrong

Robert J. Samuelson July 18, 2016
Globalization has become the scapegoat for inequality, poor jobs, reduced wages and other economic problems – real and perceived – during the US presidential election. “What’s lost in the obsession with globalization is the fact that the American economy is driven mainly by domestic factors,” writes Robert Samuelson in a column for the Washington Post, adding that about 75 percent of the US...

A Quarter Century of Market Reform Leaves India Richer With Wider Inequality

Dilip Hiro July 12, 2016
India opened to the world in 1991 with its New Economic Policy that embraced economic liberalization and privatization. The policies lifted India’s GDP, but also widened the gap between rich and poor, explains Dilip Hiro, author of 36 books including “The Age of Aspiration: Power, Wealth, and Conflict in Globalizing India.” Services have climbed, contributing to a growing economy boosted by the...

Youth to Foot Bill for Baby Boomer Budget Incompetency

Jessica Irvine July 1, 2016
Young adults must become engaged in politics or risk living in poverty. “Borrowing rates are historically low,” explains Jessica Irvine for the Sydney Morning Herald. “But eventually the books should balance, and when they do, they will do so on the shoulders of future generations who will pay higher taxes than otherwise.” Her objections to rising debt and increased costs for education, housing...