Matthew C. Klein and Michael Pettis— The drive south across the Detroit River from the U.S. city of the same name to the Canadian city of Windsor only takes about twenty minutes. For nearly a century, the big three American automakers have exploited this proximity by operating plants in both
Robert Skidelsky— The need for economists to think about economics became apparent after the global financial crisis of 2007–2008. Few economists predicted the crash; more damningly, few envisaged the possibility that such a collapse could occur, any more than the crash of an algorithmic system. Students of economics asked: what
Matthew C. Klein— The distribution of income has macroeconomic consequences. Under certain conditions, income concentration (rising inequality) can make society as a whole more prosperous. Other times, such as in the past few decades, however, high or rising inequality makes everyone worse off than they otherwise would be. The trade
Dieter Helm— Fast-forward to 2050—almost thirty-five years from now. What will the world look like? How will technology have transformed our daily lives? Will it be a world of robots and artificial intelligence (AI)? Of graphene, fusion, and electric transport? Now rewind—back to 1980. This was still a world of
View the New York Times ‘Interwoven Globe’ Exhibition Slide Show Follow @yaleARTbooks Interwoven Globe: The Worldwide Textile Trade, 1500-1800 tells a fascinating history of global textile design through the intertwined narratives of trade across continents, oceans, and eras. Drawing on The Metropolitan Museum of Art‘s incredibly rich textiles collection—much of which the
Given the failure of the World Trade Organization (WTO) Doha round of tariff cuts, the world economy has remained partly closed: agriculture is protected and one cannot freely sell industrial goods to developing nations. After the economic temblors of 2008, the prospect of American and European decline captures headlines and
Headlines on China’s innovation have been popping up this week, as the world wonders what the next big economic development will be for the country, which recently surpassed Japan for the #2 rank in GDP. Both The Economist and Reuters have run stories taking insight from a new book, The