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    A curated selection of essential analysis of the most important news stories, plus the latest Big Picture topical collection, delivered to your inbox every Thursday.

  8. gros156_INA FASSBENDERAFP via Getty Images_covid inequality INA FASSBENDERAFP via Getty Images

    Why the Pandemic Might Not Boost Inequality

    Daniel Gros

    From an economic perspective, the COVID-19 crisis has so far played out much better than feared for more vulnerable segments of society. Initial job and earnings losses were cushioned by generous state support, and the vigorous recovery is leading to much improved employment prospects for many. 

     highlights indications that the economic impact on vulnerable groups could be less damaging than feared.
    2
  7. 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.
    35
  9. 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.

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