The American people are not just electing a president and an economic platform; they are determining and defining the very character of their society.
The ideological debate over regulation misses the point: it's not a question of more or less, but of good regulatory designs. The London bus system provides an instructive example.
The question of whether the Olympics are worth it is meaningless unless we ask: to whom?
Regulators and politicians missed a crucial opportunity for structural change after the financial crisis, but banks continue to serve up new scandals and chances for reform. Will we finally act this time?
High executive pay is the result of two factors that markets have a hard time dealing with in combination: high stakes and high uncertainty.
Rather than lamenting the flow of graduates from top schools into finance and consulting, we need to offer a compelling public sector alternative. Don't expect students to sacrifice a career to do good.
At the heart of the debate over raising taxes on the rich lies a basic economic question: Do higher taxes discourage people from working? Answering this question requires a more realistic view of individual behavior.
Banks got away with far too much, but we act as if the problem of fixing financial regulation has been solved. Have we missed our chance for real reform?