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Rain Newton-Smith

Rain Newton-Smith

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Rain Newton-Smith is Chief Economist at the Confederation of British Industry.

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  2. furman5_Getty Images Yuichiro Chino_forecasting Getty Images Yuichiro Chino

    Why Did Almost Nobody See Inflation Coming?

    Jason Furman

    Forecasting inflation is a staple of macroeconomic modeling, yet virtually all economists’ predictions for the United States in 2021 were way off the mark. This dismal performance reflected a collective failure to take economic models seriously enough, as well as other analytical shortcomings.

     ascribes near-universal forecasting errors in 2021 to not taking economic models seriously enough.
    7
  4. kschwab25_Marcos del MazoLightRocket via Getty Images_climateprotest Marcos del Mazo/LightRocket via Getty Images

    Envisioning Governance 4.0

    Klaus Schwab

    When the COVID-19 pandemic ends, the world will need a new governance model that differs from its predecessors in several fundamental respects. In particular, while finance, economics, and business remain vitally important, they must serve society and nature – not the other way around.

     argues that tackling today’s global challenges will require a transformation of institutions and leadership.
    2

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