Australia’s bushfires have given officials plenty of cover to do what they should be doing anyway: ramp up fiscal spending. A lot hinges on whether they can get comfortable with the idea. An area larger than Ireland has been destroyed, at least 25 people are dead, 2,000 homes have been razed, and 25 million acres of forest and bush have ...

One of the most interesting sessions I attended at last week’s American Economic Association meeting was a panel titled “Making global markets work for American workers.” The discussion, featuring economists Dani Rodrik, Kimberly Clausing and Josh Bivens, laid out the problems with free trade, the shortcomings of US trade policy during the past few decades and some suggestions for improvement. ...

Every once in a while, a single anecdotal data point captures the hearts and minds of bond traders. Often, it confirms their beliefs about the direction of the economy. It seems one such data point was a report this week that Taco Bell, the fast-food chain that sells double-stacked tacos for $1, would soon be offering a $100,000 salary for ...