Category Archives: Economics

Capitalism excels at innovation but is failing at maintenance

Andrew Russell and Lee Vinsel write: Innovation is a dominant ideology of our era, embraced in America by Silicon Valley, Wall Street, and the Washington DC political elite. As the pursuit of innovation has inspired technologists and capitalists, it has also provoked critics who suspect that the peddlers of innovation radically overvalue innovation. What happens… Read More »

Can Apple make the iPhone without China?

Chris Miller writes: Long before it reached your home, even before its tiny components were pieced together in an assembly plant, your phone was already one of the most complex gadgets in the world. It is the product of a delicate supply chain whose every link is forged by competing business and political interests. That… Read More »

‘A sea change’: Biden reverses decades of Chinese trade policy

Politico reports: After decades of U.S. efforts to engage China with the prospect of greater development through trade, the era of cooperation is coming to a screeching halt. The White House and Congress are quietly reshaping the American economic relationship with the world’s second-largest economic power, enacting a strategy to limit China’s technological development that… Read More »

Degrowth can work — here’s how science can help

Jason Hickel et al, write: The global economy is structured around growth — the idea that firms, industries and nations must increase production every year, regardless of whether it is needed. This dynamic is driving climate change and ecological breakdown. High-income economies, and the corporations and wealthy classes that dominate them, are mainly responsible for… Read More »

State, local governments increasingly turn to zoning reforms

Sarah Wesseler writes: Transportation is the largest source of greenhouse gases in the United States, and passenger vehicles — the cars most Americans rely on to meet their daily needs — account for more than half of transportation emissions. Conversations about reducing these emissions typically focus on electric vehicles. But increasingly, government officials across the… Read More »

The yuan’s the new dollar as Russia rides to the redback

Reuters reports: Chinese entrepreneur Wang Min is delighted about Russia’s embrace of the yuan. His LED lights company can price contracts to Russian customers in yuan rather than dollars or euros, and they can pay him in yuan. It’s “win-win”, he says. Wang’s plans have been transformed by the conflict in Ukraine and the subsequent… Read More »

Deglobalization is a threat to climate action

Raghuram G. Rajan writes: The deliberations at this year’s United Nations Climate Change Conference (COP27) suggest that while policymakers realize the urgency of combating climate change, they are unlikely to reach a comprehensive collective agreement to address it. But there is still a way for the world to improve the chances of more effective action… Read More »

The wreckage of neoliberalism

Chris Murphy writes: For millions of Americans—especially those who don’t live in the high-income urban mega-economies—it feels like life itself is unspooling. This sense of dislocation is what Donald Trump’s politics of grievance seized upon when he launched his campaign for the presidency in 2015. He offered easy scapegoats—immigrants, Muslims, and economic elites—to blame for… Read More »

The Saudi-Russian oil axis snubs Biden with production cuts

Javier Blas writes: Coming four weeks before the US midterm elections, many in Washington took the unexpectedly large output cut as a personal attack on President Joseph Biden. The fact that OPEC+ hastily gathered in person in Vienna, rather than via video-conference as scheduled, reinforced that perception. The form of the meeting mattered as much… Read More »