To look at the way richer countries are spending money on the energy transition, you might think we’re within reach of bringing climate change under control. Investment in clean energy has only accelerated in the years since Covid-19 struck. In the second half of the last decade, it grew at a 2% annual rate. Since 2020, that’s risen to 12% ...

  “Turtles all the way down” is a handy phrase for describing how the human mind creatively fills in holes of logic. It allegedly springs from one person’s attempt to justify to the philosopher Bertrand Russell her belief that the world was floating on a giant turtle by imagining another turtle underneath it, and then another, to infinity. The image ...

  Federal Reserve Chair Jerome Powell believes that monetary policy is carried out through financial conditions, and for the time being he seems to like where they stand. As he told lawmakers, “the market has been reading our reaction function reasonably well.” That markets and the Fed are on the same page is good news for near-term volatility, but Powell’s ...