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April 30, 2022

Analysis

The Whole Field

Markets, planning, and coordinating the green transformation

In recent years, an intense debate has unfolded over the policy and politics of the green transition. Politically, the tide appears to be receding: As the Biden agenda has lost momentum and rising inflation moves center stage, the near-term prospects…

April 27, 2022

Analysis

Regime Change?

The evolution and weaponization of the world dollar

The centerpiece of shock and awe of the West’s economic response to Russia’s invasion and bombardment of Ukraine was the freezing of Russia’s central bank assets. In the March 7 edition of his Global Money Dispatch newsletter, the Credit Suisse…

April 15, 2022

Analysis

Economic War and the Commodity Shock

A discussion on sanctions and global commodity markets

The war in Ukraine has unleashed both geopolitical and economic strife, and nowhere is the latter clearer than in the volatile commodities market. Commodities prices have fluctuated wildly since the Russian invasion began and the US-led coalition retaliated with extraordinary…

March 9, 2022

Analysis

Bargaining Chip?

On the speed and scope of the Russia sanctions, and the prospects for off-ramps

For the global hegemon, pulling the trigger on crisis management seems to consist primarily of posting PDFs to government websites. During the March 2020 financial panic, as the coronavirus first spread throughout the Global North, the Federal Reserve feverishly published…

June 18, 2021

Interviews

Investment and Decarbonization

A conversation on investment strategies for the green transition

In late March, the Biden administration announced the $2 trillion American Jobs Plan, with approximately half of the sum dedicated to fighting the climate crisis. While the legislation would mark a sea change in federal action to avert climate catastrophe,…

December 3, 2020

Reviews

Transition Theory

On Jairus Banaji’s A Brief History of Commercial Capitalism

Capitalism is either eternal or it isn’t. There are people who defend the first view, or something close to it—the multivolume 2014 Cambridge History of Capitalism opens in Babylonia, circa 1000 BCE—but it is much more plausible that capitalism, like…

July 1, 2020

Reviews

On the conceptual and methodological stakes of Trade Wars Are Class Wars by Matthew C. Klein and Michael Pettis Good writing on international macroeconomics reads like a detective novel. There’s a suspicious event—hundreds of millions of dollars in phantom FX…

June 13, 2020

Interviews

Trade Wars Are Class Wars

A discussion between Adam Tooze, Michael Pettis, and Matthew Klein

Michael Pettis and Matthew Klein's new book "Trade Wars Are Class Wars" begins with an epigraph from John A. Hobson: "The struggle for markets, the greater eagerness of producers to sell than of consumers to buy, is the crowning proof…

May 22, 2020

Interviews

Municipal Bonds, Race, and the American City

An interview with Destin Jenkins

The rapid and expansive action taken by the Fed over the past two months in response to the coronavirus crisis has muddied the distinction between monetary and fiscal policy. In particular, its Municipal Liquidity Facility provides a path for financing…

December 18, 2019

Analysis

Mapping market concentration in the higher education industry In much of the existing higher education literature, “college access” is understood in terms of pre-college educational attainment, social and informational networks, and financial capacity, both for tuition and living expenses. The…

October 24, 2019

Interviews

Throughout his career, John Roemer's work has been uniquely situated between the fields of microeconomics, game theory, philosophy, and political science. His research makes use of the tools of classical economics to analyze dynamics typically thought to be outside the…

October 17, 2019

Analysis

Disparate Causes, pt. II

On the hunt for the correct counterfactual

An accurate understanding of the nature of race in our society is a prerequisite for an adequate normative theory of discrimination.

October 11, 2019

Analysis

Disparate Causes, pt. I

The shortcomings of causal and counterfactual thinking about racial discrimination

Legal claims of disparate impact discrimination go something like this: A company uses some system (e.g., hiring test, performance review, risk assessment tool) in a way that impacts people. Somebody sues, arguing that it has a disproportionate adverse effect on…

July 18, 2019

Analysis

Student Debt & Racial Wealth Inequality

How student debt cancellation affects the racial wealth gap

The effect of cancelling student debt on various measures of individual and group-level inequality has been a matter of controversy, especially given presidential candidates’ recent and high-profile proposals to eliminate outstanding student debt.

June 13, 2019

Interviews

Elections, Social Democracy, and the Neoliberal Shift

An interview with Adam Przeworski

Throughout the 20th century, radical social movements were plagued by their relationship to existing state institutions. Across Western Europe, labor movements found political expression in parties like the Swedish Social Democrats, the German SPD, and the French Socialist Party.

May 16, 2019

Interviews

Feminist Theory, Gender Inequity, and Basic Income

An interview with Almaz Zelleke

Feminist and women's movements in the mid-20th century developed demands for an unconditional basic income that emerged out of concrete experiences with the welfare state. What can the current discussion around UBI learn from examining this largely sidelined history?

March 28, 2019

Analysis

Experiments for Policy Choice

If we wish to pick good policies, we should run experiments adaptively

Randomized experiments have become part of the standard toolkit for policy evaluation, and are usually designed to give precise estimates of causal effects. But, in practice, their actual goal is to pick good policies. These two goals are not the…

March 1, 2019

Analysis

The Case for an Unconditional Safety Net

The 'magic bucket' of universal cash transfers

Imagine a system where everyone had a right to basic material safety, and could say “no” to abuse and exploitation. Sounds utopian? I argue that it would be quite feasible to get there, and that it would make eminent economic,…

February 4, 2019

Reviews

What happens when you give people cash? How do they use the money, and how does it change their lives? Every cash study on this list is different: the studies vary in intervention type, research design, location, size, disbursement amount,…

October 18, 2018

Analysis

Machine Ethics, Part One: An Introduction and a Case Study

Artificial intelligence, ethics, and public health social work

The past few years have made abundantly clear that the artificially intelligent systems that organizations increasingly rely on to make important decisions can exhibit morally problematic behavior if not properly designed.

October 10, 2018

Analysis

Who cares about stopping rules?

Can you bias a coin?

Take a coin out of your pocket. Unless you own some exotic currency, your coin is fair: it's equally likely to land heads as tails when flipped.

October 2, 2018

Analysis

The “Next Big Thing” is a Room

New realities in Dynamicland

If you don’t look up, Dynamicland seems like a normal room on the second floor of an ordinary building in downtown Oakland. There are tables and chairs, couches and carpets, scattered office supplies, and pictures taped up on the walls.…