Recently I was interviewed for an article published in California Magazine. It is a well-written article about the controversy surrounding genetically modified organisms (GMOs). I made my usual points: GMOs have actually done much good by reducing commodity prices, increasing yields, saving land and reducing greenhouse gas emissions, and improving … More >
Recent popular demonstrations such as the Occupy Wall Street movement have made it clear that the high levels of inequality in the United States remain a pressing concern for many. While protesters have primarily focused their ire on private financial institutions, the Federal Reserve (Fed) has also been one of … More >
Imagine a system of college education supported by high and growing government spending on elite private universities that mainly educate children of the wealthy and upper-middle class, and low and declining government spending on public universities that educate large numbers of children from the working class and the poor.
You can … More >
With the release of the (mostly) triennial Survey of Consumer Finances (SCF) from the Federal Reserve, it is once again time to look at trends in wealth. The SCF is one of the best sources for data on net worth (assets minus liabilities) in the U.S.
In … More >
Brazilians will head to the polls on Oct. 5 to vote in a tight presidential race. President Dilma Rousseff’s leading challenger is Socialist Party candidate Marina Silva. A key component of Silva’s economic platform is her support for a more independent central bank. Central bank independence, long a topic of interest to … More >
Slovenia is a small Slavic nation in the middle of Europe, between Latin and Germanic countries (Italy and Austria), and is an embodiment of all three. It has been under Austrian rule for 1000 years, and was freed by Napoleon, who is considered a hero (they have a nice statue … More >
Eric Schmidt, a former CEO of Google, said in 2012 that the Web will dissolve national barriers. While we wait to see what is going to be left of national borders in the future, the rising importance of e-commerce can already help economists understand the nature of frictions in international … More >
After years of mismanagement and looting, Ukraine faces a number of economic challenges. The situation is so critical that weak economic performance in the next few years could undermine the very independence of the country. Just yesterday, President Poroshenko signed a degree setting up the National Council for Reforms to … More >
Over at Equitable Growth: The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments:
Robert Skidesky: Knocking the scientific halo off mainstream economists’ teaching and research: “The growing discontent of economics students…
…with the university curriculum…. Students at the University of Manchester advocated an approach ‘that begins with economic … More >