Back in 2012, Daron Acemoglu — an economist I follow and greatly respect — wrote a paper along with James Robinson and Thierry Verdier claiming to explain why Scandinavian countries are (supposedly) less innovative than the U.S. Acemoglu et al. theorized that Scandinavia embraces “cuddly capitalism” — a strong safety net that prevents failure — while the U.S. goes …

  In the 2000s, a series of academic papers showed that corporate America had become a much less comfortable place for incumbents. Lots of people in corporate America already knew this, but it was helpful to see peer-reviewed evidence: L.G. Thomas and Richard D’Aveni found big increases in profit volatility among manufacturing companies from 1950 to 2002. Diego Comin and …

  Al Qayyarah / AFP Iraqi paramilitary forces launched an operation on Saturday to retake Tal Afar from the IS group, opening a new front in the nearly two-week-old offensive to recapture extremist-held Mosul. Forces from the Hashed Al-Shaabi, a paramilitary umbrella organisation dominated by Iran-backed Shiite militias, have largely been on the sidelines since the launch of the Mosul operation. …