Neoliberalism: the idea that swallowed the world

Last summer, researchers at the International Monetary Fund settled a long and bitter debate over “neoliberalism”: they admitted it exists. Three senior economists at the IMF, an organisation not known for its incaution, published a paper questioning the benefits of neoliberalism. In so doing, they helped put to rest the idea that the word is nothing […]

Bump in U.S. Incomes Doesn’t Erase 50 Years of Pain

Incomes are up. Poverty is down. And job openings have hit a record high. But if the economy is so wonderful, why are so many Americans still feeling left behind? The disconnect between positive statistics and people’s day-to-day lives is one of the great economic and social puzzles of recent years. It helped fuel President Trump’s political […]

On Health and Welfare, Moral Arguments Can Outweigh Economics

When Representative Mo Brooks said it was unfair that healthy “people who lead good lives” should have to subsidize the insurance of unhealthier ones who presumably don’t, he bluntly raised an often unspoken question that runs through policy debates in Washington: Who deserves government aid and who does not? Such proposals can be — and often are […]