Opinion

  Paul Romer, chief economist at the World Bank, has offered a controversial explanation for why the shocking experience of the 2008 financial crisis has had so little effect on academic macroeconomics. The field, he asserts, has devolved into a sort of cult in which loyalty to certain figures of authority matters more than the pursuit of the truth. Could …

  No matter how often the U.S. is hit with storms, wildfires and other natural disasters, cities and states remain poorly prepared. Houses are destroyed, transit systems are swamped, roads and bridges are wiped out. The Federal Emergency Management Agency sweeps in to help with cleanup, temporary shelter and rebuilding. But then life goes on, with little concern for next …

  The UAE has received high ranking from World Economic Forum in the recent Global Competitiveness Report. There are many performance indicators on which the competitiveness of an economy is decided, including infrastructure, goods market and labour market efficiency. Two of the key indexes in which the UAE has been making huge strides is education and technological readiness. These go …

  With its insults, lies, rancor and racism, this has been the most depressing election cycle of my lifetime. So it’s worth reminding ourselves that there’s plenty of good news for the U.S. of 2016, and that the good news probably far outweighs the bad. When historians look back on our era, the Hillary Clinton-Donald Trump campaign probably will be …

  A crumpled instant-noodle bowl ground into the mud is an unlikely symbol of economic vitality. But during China’s boom years those bowls were as ubiquitous around Chinese construction sites as the high-rise cranes above them. That was no accident. For millions of Chinese workers, instant noodles were the convenient meal of choice, available for a few cents in every …

  SpaceX CEO Elon Musk made a splash at the International Astronautical Conference in Mexico with his plans for an Interplanetary Transport System, along with a disturbingly inspirational ultimatum: “There are really two fundamental paths. One path is we stay on Earth forever and there will be some eventual extinction event… The alternative is to become a space-faring civilization and …

  Watching Monday night’s presidential debate from a country that has been bankrupted by populist economic ideas was instructive: Argentina’s experience shows that good countries can make very bad political decisions that have lasting costs. Visiting here with Treasury Secretary Jacob Lew was also a reminder of how intently the rest of the world is following this year’s U.S. election …

  Why do so many Americans oppose immigration, and why has it become a central issue in the presidential campaign? A growing body of research suggests that the answer isn’t economic anxiety, or concerns about public spending, or even general nationalism. It is more specific — and more disturbing. The question of what drives anti-immigrant sentiment is put in sharp …

In yet another stunning anti-democratic maneuver, Venezuelan President Nicolas Maduro has managed to have any recall referendum effectively delayed until next year. In response, President Barack Obama needs to revisit U.S. policy toward the Western Hemisphere’s most dysfunctional nation. Until even a few years ago, some U.S. “strategic patience” toward Venezuela made sense. High oil prices cushioned the country with …

  Fine particulate matter can get lodged in our lungs and trigger massive health impact. These also foul the environment. They extract economic toll too. When over 90% of the world’s people breathe contaminated poor quality air and fall sick, it’s obvious that the ripples will be felt on the economy as well. A recent report revealed that premature deaths …