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Dani Rodrik argues that making global innovation more labor-friendly would benefit rich and poor countries alike. → Read More
Dani Rodrik shows why economists' prescriptions for price stability should never be viewed as reflecting universal rules. → Read More
Boosting earnings and the dignity of work requires strengthening bargaining power and supplying good jobs to those who most need them. → Read More
The structure of great-power rivalry may exclude a world of love and harmony, but it does not necessitate a world of immutable conflict. Structure is not destiny: It does not preclude any of the myriad alternatives that lie between these extremes. → Read More
The G7 agreement on taxation of global corporations still needs formal approval from a wider set of countries, and there remain many details to be worked out for it to be effective. Nonetheless, it would not be farfetched to describe the deal as historic. → Read More
The US administration's proposed $2 trillion infrastructure package could transform the US and set an important example for other developed countries to follow. But to achieve its potential, the plan must avoid misleading state-versus-market dichotomies and outdated Cold War tropes. → Read More
Recent patterns of technological change in the rich world have made it more difficult for low-income countries to develop and converge with income levels in the developed world. These changes have contributed to deepening economic and technological dualism even within the more advanced segments of developing countries’ economies. → Read More
‘Stakeholder capitalism’ has been promoted to balance the market and society but ultimately the only solution is to make firms more democratic. → Read More
By promoting behavioral norms that balance market and society, "stakeholder capitalism" is supposed to enable private firms to fill the vacuum created by the decline of traditional forms of regulation by national governments. Ultimately, though, the only viable solution is to make business itself more democratic. → Read More
Policymakers and the public at large understand the importance of innovation to economic growth and well being. What is less well appreciated is the degree to which the innovation agenda has been captured by narrow groups of investors and firms whose values and interests don’t necessarily reflect society’s needs. → Read More
The virus confirms that the world needs rules for living together—but not the arbitrary rules we've got. For the good of the economy as much as anything else, the focus must shift from investment and trade to public health and the climate → Read More
No one should expect the pandemic to alter – much less reverse – tendencies that were evident before the crisis. Neoliberalism will continue its slow death, populist autocrats will become even more authoritarian, and the left will continue to struggle to devise a program that appeals to a majority of voters. → Read More
Societies should not allow firms' owners and their agents to drive the discussion about reforming corporate governance. → Read More
The rise of populist nationalism throughout the West has been fueled partly by a clash between the objectives of equity in rich countries and higher living standards in poor countries. Yet advanced-economy policies that emphasize domestic equity need not be harmful to the global poor, even in international trade. → Read More
Senator Elizabeth Warren’s plan is not inherently protectionist. But if it occasionally requires some degree of trade protection – to shield labor, local communities, the tax regime, or environmental rules – it would be because there is a domestic program worth protecting. → Read More
If authoritarian populism is rooted in economics, then the appropriate remedy is a populism of another kind—targeting economic injustice and inclusion. → Read More
If authoritarian populism is rooted in economics, then the appropriate remedy is a populism of another kind – targeting economic injustice and inclusion, but pluralist in its politics and not necessarily damaging to democracy. If it is rooted in culture and values, however, there are fewer options. → Read More
Competition by public authorities to attract large companies with tax breaks is not the route to good jobs. Iterative dialogue with firms is a better way. → Read More
Most policy mishaps in the world economy today – as in the case of US President Donald Trump’s tariffs – occur as a result of failures at the national level, not because of a lack of international cooperation. And, with the exception of two types of cases, countries should be allowed to make their own mistakes. → Read More
So-called productive dualism is driving many contemporary ills in developed and developing countries alike: rising inequality and exclusion, loss of trust in governing elites, and growing electoral support for authoritarian populists. But much of the policy discussion today focuses on solutions that miss the true source of the problem. → Read More