Several high-tech leaders, including Bill Gates, question the value of information technology (IT) for developing countries, especially when compared to priorities like food, medicines and schools. In a sense, they are correct; anti-virus software is no substitute for vaccines. But Mr. Gates, also an eminent vaccine philanthropist, and his fellow doubters are selling their industry short by overlooking the many things IT
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While carbon pricing and industrial policies may have enabled policymakers in the United States and Europe to avoid difficult political choices, we cannot rely on these tools to achieve crucial climate goals. Climate policies must move away from focusing on green taxes and subsidies and enter the age of politics.
explains why achieving climate goals requires a broader combination of sector-specific policy instruments.
The long-standing economic consensus that interest rates would remain low indefinitely, making debt cost-free, is no longer tenable. Even if inflation declines, soaring debt levels, deglobalization, and populist pressures will keep rates higher for the next decade than they were in the decade following the 2008 financial crisis.
thinks that policymakers and economists must reassess their beliefs in light of current market realities.