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The scale of US President Joe Biden’s American Rescue Plan (ARP) – US$1 trillion in spending for this year, another US$900 billion after that, plus a US$3 trillion infrastructure and energy program that has been promised – has spooked many macroeconomists. Are their fears justified? The bank and bond-market economists, having cried wolf before, can ...
The direction of AI development is not preordained. It can be altered to increase human productivity, create jobs and shared prosperity, and protect and bolster democratic freedoms—if we modify our approach. Artificial Intelligence (AI) is not likely to make humans redundant. Nor will it create superintelligence anytime soon. But like it or not, AI technologies and intelligent systems will make huge advances in the next two decades—revolutionizing medicine, entertainment, and transport; transforming jobs and markets; enabling many new products and tools; and vastly increasing the amount o...
The only real inflationary danger comes from those fanning the flames of war with China, says Professor James K Galbraith.
Read later Audio version Summary: Is remote work and digital teamwork making us more or less productive? Unfortunately, the pandemic has broken the productivity statistics, so no one can say for sure. (© fizkes - Shutterstock) Digital teamwork tools have evolved rapidly over the past year as much of the world switched to distributed working. There's a lot more evolution still to come as vendors continue to release new capabilities. Just last week, Cisco promised new analytics for Webex users, while Slack's CEO the week before was talking up plans to add audio chats and video clips. But desp...
Will Mario Draghi’s Center Hold? A closer look at the Italian prime minister’s career reveals how the tangled history of post-Keynesian economic thought shaped his technocratic brand. Mario Draghi on March 10th 2021 (Samantha Zucchi/Insidefoto/Mondadori Portfolio via Getty Images) Italyâs new Prime Minister Mario Draghi has been hailed as the nonpartisan expert the country needs to get its house in order. But who is Draghi? A closer look at his career reveals the tangled history of post-Keynesian economic thought and European neoliberalism that i...