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DAVID WHITE/STUFF The latest round of lockdowns around the world will hit the economy again–but, perhaps, not as hard. The lockdowns of the spring, which at their peak covered more than half of the world’s population, provoked an almighty downturn. In April global economic output was 20 per cent below where it would have been otherwise. As cases of coronavirus have soared again, many rich countries are imposing another round of lockdowns. France was in confinement in November, Italy locked down over Christmas, and England went into a national lockdown on January 6. Parts of Japan have en...

I’m from the government, I’m here to help The case for more state spending on R&D It is a strong one HERE IS nothing new about economists arguing for more government spending on research and development ( R&D). Theoretical work done by Kenneth Arrow in the 1960s convinced his colleagues that the private sector would not on its own provide the amount of innovation that economies need to maximise their growth. Empirically the coincidence, in the 1950s, of increased government R&D spending and excellent rates of productivity and GDP growth strengthened the case further. Listen to this story

Relapse and recovery The rich world has become better at mitigating their economic cost T HE LOCKDOWNS of the spring, which at their peak covered more than half of the world’s population, provoked an almighty downturn. In April global economic output was 20% below where it would have been otherwise. As cases of coronavirus have soared again, rich countries are imposing another round of lockdowns. France was in confinement in November, Italy locked down over Christmas, and England went into a national lockdown on January 6th. Parts of Japan have entered a state of emergency. The situation in...

Vaccine May Not Bring Americans Back to Offices December 20, 2020 FILE - The 77 story One Vanderbilt office tower, the latest super-tall skyscraper to grace New York's iconic skyline, is open September 9, 2020, while COVID-19 keeps many offices mostly empty. (REUTERS/Mike Segar) Share share The URL has been copied to your clipboard 0:00 0:05:54 0:00 Pop-out player We are now ten months into a pandemic that has changed work-life balance for a lot of people. And many Americans say they are doing well in their home offices and dining room workstations. Most want to continue working from home aft...