Progress on a number of human development indicators exceeded expectations in 2017, with global health benefiting from 18 major successes. Even in a mediocre year, eradication of numerous diseases, expansion of universal health care, and much more saved millions of lives.
It is impossible to pin down the full cause of the high price of the US stock market. That alone should remind all investors of the importance of diversification, and that the overall US stock market should not be given too much weight in a portfolio.
Advances in automation and artificial intelligence already pose a clear threat to countless occupations, just as the technologies of the Industrial Revolution did for many forms of manual labor in the nineteenth and twentieth centuries. But this time, it is not just our jobs that are in danger.
Silicon Valley and technology hubs everywhere pride themselves on being the place where the future is invented. But, for women, that place can resemble a toxic distillation of the past, where gender discrimination, open sexism, and harassment are all in a day’s work.
Within a few decades, the Internet has transformed the global economy and rendered the old Westphalian order increasingly obsolete. But without a new governance framework to manage cyber threats and abuses, what has been a boon to globalization could become its undoing.
The relationship between inequality and growth has become a hot topic for economists, with new research challenging the conventional view that greater inequality is the price that must be paid for higher output. But for policymakers, the real question is how to assess outcomes and improve modes of distribution.
Social media firms may not be creating the continuing torrent of junk news seen in 2017, but they provide the platforms that have allowed “computational propaganda” to become one of the most powerful tools currently being used to undermine democracy.
If democracy is to survive, today’s social media giants will have to redesign themselves.
Unlike the Great Depression of the 1930s, which produced Keynesian economics, and the stagflation of the 1970s, which gave rise to Milton Friedman's monetarism, the Great Recession has elicited no such response from the economics profession. Why?