Stagnation? get used to it

Earlier this month the Nobel Prize for economics was awarded to three academics noted for exploring the two most urgent practical questions in their discipline: why do economies grow, and how can we h

“History is just one f**king thing after another,” declares a vulgar schoolboy in Alan Bennett’s play The History Boys. Surveying the past 25 years can feel the same way. From Iraq to the euro crisis

With the election of a socialist to the position of mayor, New Yorkers are trying to escape one toxic fantasy by plunging headfirst into another. They jump from the caldarium – a muscled-up fantasy of

The past half century has revealed a “consistent and enduring pattern” in human affairs, says Adair Turner. In every society that combines economic prosperity, a well-educated female population and ac

Even the tech titans admit we are in a bubble. There will be plenty of losses to go round, they say, but the massive investment in AI will leave everyone better off. In short, what we’re seeing is a “

There are policies that seem to work and some that don’t. But the policy that always works best is no policy at all. That is, left alone, people do the best they can with what they have. Only they kno