The IMF appoints a new chief economist

Go, Gita Gopinath THE International Monetary Fund (IMF) used to be known for its unwavering advocacy of the “Washington consensus”, a set of free-market policies including free capital flows and fiscal consolidation. Nowadays it is a little more introspective—or, perhaps, open-minded. On October 1st the fund announced that Gita Gopinath, a professor at Harvard University, […]

Sir James Mirrlees, a Nobel-prizewinning economist, died on August 29th

The optimal economist WHEN James Mirrlees got the call to say he had won the Nobel prize for economics in 1996, he assumed that a friend was pulling a prank. “Jim politely suggested that it didn’t sound very likely and he’d need some proof,” his wife later recalled. Friends and colleagues say it paints a […]

A market-design economist wins the John Bates Clark medal

Parag Pathak penned a pupil-picker paper BOSTON parents were fed up. To get their children into public schools they had to submit a list of their preferences. Spots were allocated first to those who put a school top. Only then would schools consider pupils who put them second or third. Sounds fair? Hold on. The […]

This Economist Wants to Change the Meaning of Money

Imagine an end to Washington spending wars that leave filibustering senators blue in the face. Economist Stephanie Kelton does. She sees a world where the federal government can build a big, beautiful social safety net, strengthen the military and, for good measure, cut taxes on the rich. The government, in her eyes, can spend as […]

Nobel economist Stiglitz sees no legal functions for bitcoin: ‘We have a good medium of exchange called the dollar’

Kim Kyung Hoon/Reuters Nobel-prize winning economist Joseph Stiglitz says bitcoin serves no useful function — other than circumventing legality.  Stiglitz, who has called on bitcoin to be outlawed, told Blooomberg Television from Davos: “We have a good medium of exchange called the dollar.” He argues that regulating bitcoin would mean driving it out of existance […]

One economist says the peso could crash by as much as 25% if NAFTA collapses

Imelda Medina/Reuters The Mexican peso could drop by as much as 25% if NAFTA collapsed, according to Edward Glossop, Latin America economist at Capital Economics. The Mexican peso was under pressure earlier this week after the Trump administration came out swinging for the fourth round of NAFTA re-negotiations. The Mexican peso could drop like a ton of bricks […]

An economist explains why a national monument with free admission is way more valuable than the uranium ore beneath it

Bureau of Land Management/Flickr The United States has an extensive system of amazing parks. From the Shenandoah National Park, close to where I grew up, to Sequoia National Park, where I am a trustee for Lost Soldier’s Cave, our national parks connect Americans to our remarkable landscapes and wilderness areas. I have annual passes to […]

The Economist Daring to Challenge Brazil's 'Successful' Anti-Poverty Policy

Days after returning to Rio de Janeiro from a yearlong fellowship at Berlin’s Institute for Advanced Studies, Lena Lavinas attended a conference and delivered an unrelievedly bleak diagnosis of Brazil’s economic crisis. The economist and Federal University of Rio de Janeiro (UFRJ) professor went on the offensive after a speaker’s comments about the country’s overvalued […]