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The 2025 Nobel Prize in Economics is awarded for: "having explained innovation-driven economic growth", 13 0ct 25:

Half of the prize goes to Joel Mokyr (Northwestern U) "for having identified the prerequisites for sustained growth through technological progress" and the other half jointly to Philippe Aghion (Collège de France, Paris; INSEAD; and London School of Economics and Political Science) and Peter Howitt (Brown U) "for the theory of sustained growth through creative destruction"

Supreme Court Lets Lisa Cook Stay at Federal Reserve for Now, Will Hear Arguments in Jan, Yahoo Finance, 1 Oct 25:

The decision is a setback for Pres Trump, who has been pushing for Cook's immediate firing and trying to put his own stamp on the nation's central bank. The court is letting her remain as a Fed governor before hearing arguments in Jan about whether Trump has the authority to remove her from her post

• Bipartisan Group of Top Officials Urges Court to Reject Trump's Effort to Fire Fed Governor, AP News, 26 Sep

• Former Officials Submit Amicus Brief in Fed Governor Ouster Appeal, VitalLaw.com, 26 Sep
   

Helene Rey: Stablecoins, Tokens, and Global Dominance, Finance & Development, Sep/Nov '25:

Technology is poised to shake up the international monetary and financial system. How that happens depends on whether technologies are shaped by the public sector or the private sector sets standards first, writes London Business Sch economist / European Economic Assn pres

• What Is Tokenization?, Finance & Development, by I Agur, Sep/Nov '25

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The Fight Against US Anti-ESG (Environmental, Social & Governance) Policies, Reuters, by S Kimathi, 23 Aug 25:

We focus on financial organizations, attorneys general, and civil rights advocates that are mounting a defense against actions of US Pres Trump’s administration, which they say undermine environmental, social and governance principles


Rodrik: Mercantilism Isn't All Bad, but Trump's Version Is the Worst, Project Syndicate, May '25 [via The Edge / Malaysia]:

When economists celebrate the 250th anniv of the publication of Adam Smith's The Wealth of Nations next year, Pres Trump's mercantilism will constitute an incongruous backdrop. His brand of mercantilism embodies all its worst defects, with none of the benefits that nations have unlocked by getting their trade policies right, writes past pres, Int'l Economic Assn / Harvard economist



Competitiveness, Harvard's Michael Porter remarked in The Competitive Advantage of Nations, his 1990 best-selling book, means different things to different people. Today this commonly used term continues to defy definition and to divide opinion


Stanley Fischer (1944–2025), Finance & Development, by J Boughton, Jun '25:

Fischer, who passed away in May at the age of 81, had a storied career at the IMF, at central banks, and at universities that shaped the study of macroeconomics and the next generation of macroeconomists






Analysis: World Court Climate Opinion Turns Up the Legal Heat on Governments, Reuters, 29 July 25 [via Yahoo News]:

While the International Court of Justice does not specifically name the US, it said countries that were not part of the 2015 Paris climate treaty must still protect the climate as a matter of human rights law and customary int'l law. US climate litigation may cite ICJ opinion despite mounting climate skepticism

• World's Top Court Says Climate Inaction Can Breach International Law, Politico.eu, 23 July

Has Brazil Invented the Future of Money?, Paul Krugman's Blog, 22 July 25 [substack.com]:

Most people probably don't think of Brazil as a leader in financial innovation. In fact, in 2020 it introduced Pix, a digital payment system run by the central bank, that is now used by 93 percent of adults. It appears to be rapidly displacing both cash and cards, writes CUNY Grad Ctr economist / 2008 Nobel Laureate



EVs Are Everywhere in Oslo. Here's What Norway Has Done Differently, CNBC, 16 July 25:

The Nordic nation, known for its massive oil and gas reserves in the North Sea, has long been blazing a trail in the transition away from internal combustion engine cars. A steady stream of measures, from tax exemptions to reduced fees, has now put the nation on the cusp of completely erasing gas and diesel autos from its new car market

• Norway's Cities Favor Transit, Walking Despite Generous National EV Subsidies, Vox, Nov '23 [via The Energy Mix]

What are Rare Earth Minerals, and Why are They Central to Trump’s Trade War?, CNN, 4 June 25 [via MSN]:

The US trade war with China has a major sticking point: rare earths minerals. Here’s what you need to know about rare earths. What are they, and are they actually ‘rare?’ What are they used for? Where do they come from? And why do they matter in the trade war?

• China Maintains Global Critical Minerals Dominance: Report. Yahoo News, 21 May 25

• Global Critical Minerals Outlook 2025 – Media Release, International Energy Agency, 21 May 25

Trump Moves to Block US Entry for Foreign Students Planning to Study at Harvard University, AP, 5 June 25:

In an exec order signed Wed (4 June), Trump declared that it would jeopardize national security to allow Harvard to continue hosting foreign students on its campus. This is his latest attempt to choke the univ from an intl pipeline that accounts for a quarter of its student body

• Federal Judge Extends Order Blocking Trump Administration Ban on Foreign Students at Harvard, AP, 30 May 25

• Harvard Seeks End to US Funding Cuts, Says National Security, Public Health Research in Peril, Reuters, 3 June 25 [via MSN]

Eichengreen: Can the Dollar Remain King of Currencies?, Financial Times, 21 Mar 25 (via PressReader as: How Low Can the Dollar Go?):

It took dec­ades of patient institution-build­ing to make America’s currency global. What can the architects of ‘exorbitant privilege’ teach us now — and could this era be drawing to a close?, asks UCalif Berkeley economist / author of Exorbitant Privilege: The rise and fall of the dollar

• Nook & Cranny -- Eichengreen: The Dollar’s Future as an International Currency, Monetary Authority of Singapore, 2009 [PDF, 3pp]

Prasad: The Age of Tariffs, Foreign Affairs, 03 Apr 25 [PDF, courtesy Cornell U]:

The US has ceded its role as a bastion of free trade and is instead leading a resurgence of protectionism that will hurt consumers and businesses worldwide. These tariffs will define Trump’s legacy not as a savvy businessman but as a destructive hindrance to econ progress, writes Cornell U economist / Brookings senior fellow 

Obstfeld: The US Trade Deficit -- Myths and Realities, Broookings, 26 Mar 25 (summary):

Although tariffs will reduce imports, they also will reduce US exports as other countries retaliate. Also, tariffs imposed on imported inputs used by US manufacturers act as a tax on both US exports of the final products and US products that compete against imports, says Peterson Inst senior fellow / fmr IMF chief economist  


Krugman: Departing the New York Times, The Contrarian, 29 Jan 25:

Last month I retired as an opinion writer at the NY Times—a job I had done for 25 years. Despite the encomiums issued by the Times, it was not a happy departure. I felt that my byline was being used to create a storyline that was no longer mine. So I left to stay true to my byline, writes CUNY Grad Ctr economist / 2008 Nobel Laureate




Blanchard and Pisani-Ferry: Europe’s challenge and opportunity -- building coalitions of the willing, Bruegel, 13 Feb 25:

The EU should take the lead in convening alliances of countries to counter threats to the global order. We explore how this could work for 3 issues: climate action, trade and taxation of multinational corps, write fmr IMF chief economist ; and Sciences Po (Paris) economist



Political inertia will end when climate-change impact is 'too big to ignore' – Singapore climate envoy, Biz Times (Spore), 17 Mar 25:

Nature will set the timeline regardless of electoral or business cycles, Eventually, nature will call the shots, whether we are ready or not, when extreme weather and resource shortages disrupt livelihoods on a scale too big to ignore


Crypto -- The New Market for Lemons, RAND, by P Whitehead, Dec '24:

Ever buy a used car only to realize later that you've bought a lemon? That occurs because of information asymmetry between the seller—who knows the car is a lemon—and the buyer who doesn't, writes Pardee RAND policy analysis prof

'It’s a Circus': Trump Unleashes Chaos at Key US Science Agency, Bloomberg News, 09 Feb 24 [courtesy Decca Herald / India]:

The message went to some staff members at the National Oceanic and Atmospheric Administration, or NOAA, the scientific agency best known for providing daily weather forecasts through its National Weather Service. It capped a tumultuous 36-hour period during which the future of the organization’s international collaborations hung in limbo

JPMorgan Launches Climate Note by Ex-NOAA Science Chief, Bloomberg News, 13 Feb 24 [courtesy Financial Post / Can]:

"There is a demand for understanding how to strategically think about climate issues,” said Sarah Kapnick, now the bank’s top climate adviser, who has a PhD in atmospheric and oceanic sciences. To the chorus of thermometer-watchers, add a different kind of observer: the biggest US bank

Top Risks in 2025 for Governments and Businesses, Eurasia Group, 06 Jan 25:

We are heading back to the law of the jungle. A world where the strongest do what they can, while the weakest are condemned to suffer what they must. And the former--whether states, companies, or individuals--can't be trusted to act in the interest of those they have power over. Plus some "red herrings", and implications for Brazil, Canada, Europe and Japan

Explainer: Why Does Trump Want Greenland and Could He Get It?, Reuters, 08 Jan 25 [via Straits Times / Singapore]:

Trump first expressed interest in buying the mineral-rich and strategically important island from Denmark in 2019 but was rebuffed. "This is a deal that must happen," Trump said, as his son, Donald Jr paid a private visit to the mostly ice-covered island of 57,000 people

• Greenland’s Leader Says His People Don't Want To Be Americans as Trump Covets Territory, AP, 11 Jan 25

• Explainer: What Is the Panama Canal and Why Has Trump Threatened to Take It Over?, Reuters, 24 Dec 24 [via Straits Times / S’pore]

• Panama Canal Administrator Pushes Back Against Trump’s Assertions of Chinese Meddling, AP, 11 Jan 25

Stern and Hale: The Art of the Tariff Deal – Another Way Trump Can Boost the US Economy, New York Post, 24 Oct 24 [courtesy Heritage Found.]:

Tariffs can be wielded both destructively and constructively, and using them is a fine art. When used properly, the threat of a new tariff from a US pres is a direct attack on foreign special interests, write Found Ctr Fed Budget dir ; and senior trade policy analyst

• Wolff: Expect Trump's Demands, Not Rules, to Govern US Trade Policy, Peterson Inst (blog), 03 Dec 24

• Baldwin: Who Gets Hurt by the Trump Tariff Bombshells?. LinkedIn, 29 Nov 24

Lubin: Emerging Markets’ Two-Way Traffic, Finance & Development, Dec '24:

Financially fragile economies are pursuing market-friendly reforms, while some stronger emerging market economies are doing the opposite, writes Chatham House global economy progr senior res fellow




23 Nobel Prize-winning Economists Call Harris' Economic Plan "Vastly Superior" to Trump's, CNN, 23 Oct 24:

More than half of the living US recipients of the Nobel Prize for economics signed onto the letter, includ two of the three most recent recipients. The letter was spearheaded by Joseph Stiglitz, a Columbia Univ prof and 2001 Nobel laureate, and marks the 2nd major foray into the campaign by a group of Nobel laureates

• Text of Letter: Twenty-Three Nobel Economists Sign Letter Saying Harris Agenda Vastly Better, Columbia Univ [PDF]

Economists Who Support Harris "Lack Evidence" – Trump Economic Advisers, Newsweek, 30 Oct 24:

Economists who have endorsed Harris' econ proposals have produced no evidence to back up their claims, say Hassett, fmr chair of Trump's Council of Econ Advisers, and Mulligan, fmr member of Trump's CEA. "Proponents of the position that Harris' economy would outperform Mr. Trump's should show their work," they said


World on Deadline for Carbon-cutting "Quantum Leap" – UN, AFP, 24 Oct 24 [courtesy Business Times/ Singapore]:

The major economies of the G20 accounted for 77 per cent of all global carbon emissions last year, according to the UNEP report. Three countries churned out roughly half of the total: China at 30 per cent, the US 11 per cent and India 8 per cent. The European Union produced 6 per cent.

The 2024 Nobel Prize in Economics is awarded to: Daron Acemoglu, Simon Johnson and James Robinson "for studies of how institutions are formed and affect prosperity", 14 Oct 24:

The trio from MIT and Unuv Chicago provided an explanation for why some countries are rich and others poor. One important explanation is persistent differences in societal institutions. By examining the various political and economic systems introduced by European colonizers, they have been able to demonstrate a relationship between institutions and prosperity




:Painful policy choices loom after China's 'monumental' consumer stimulus plan, Reuters, 30 Sep 24 [via Y Finance]:

China's stimulus plans to fill consumer pockets to meet its 2024 growth target breaks away from a decades-old policy playbook, but making household demand a sustainable driver of development instead of investment is a long path paved with tough choices


The Hague to Ban Fossil Fuel Ads, Agence France-Presse, 13 Sep 24 [via France 24]:

The Dutch city of The Hague has become the 1st in the world to pass local laws banning advertisements for fossil fuels, petrol cars and long-distance air travel, officials said. The administrative city of over 500,000 residents adopted the groundbreaking local legislation which comes into effect on 01 Jan

• Lawrence & Tingley: The Populism of Self-Destruction: How Better Policy can Blunt the Anti-Clean Energy Backlash, Harvard Univ, May '24

Emerging Markets on the Global Stage, Finance & Development, by Aslam & Brooks, Sep/Nov '24:

In 1981, an enterprising employee at the Intl Finance Corp, Antoine van Agtmael, devised the term "emerging market" to drum up interest in a new equity fund of 10 up-and-coming developing economies. This label - evoking dynamism, potential, and promise - stuck. However, many emerging markets are outgrowing both the term and the stereotype




Nobel Laureates and Former Presidents Slam Lack of Fossil Fuel Mention in UN Pact Draft, CSO Futures, 14 Aug 24:

A group of 77 former world leaders and Nobel laureates have shared in an open letter their "grave concern" about the removal of any mention of fossil fuels in the latest draft of the UN Pact for the Future, intended for the coming UN Summit of the Future in New York at the end of Sep

• An Open Letter from Global Leaders and Nobel Laureates, 13 Aug

Obstfeld: America's Deficit Attention Disorder, Project Syndicate, 07 Aug 24 [via Jamaica Gleaner]:

Trump is making a big mistake by obsessing over the trade deficit. Worse, his preferred corrective – wide-ranging import tariffs – would damage the US and world economies, all while diverting attention from the US deficit that does matter, that neither political party wants to talk about, writes Peterson Inst senior fellow 


Blanchard: The Perfect Storm -- Deglobalization's Headwinds, AXA IM Investment Inst, July '24:

Globalization - the rising interconnection of the world's economies and populations, driven by intl trade in tech, services, goods as well as the flow of investment and info - is facing at least five different headwinds. The correct econ answer cannot be an absolutist defense of free trade, writes Peterson Inst senior fellow 




Pethokoukis: What Kind of Economy Will the Next US President Inherit?, Amer Enterp Inst (blog), 26 Jul 24:

Policy decisions will matter, both next year and beyond. Nothing should be taken for granted. Tariffs, immigration restrictions, and unchecked spending could spoil the bullish outlook, just as more science investment, more foreign talent, and less anti-growth regulation could support it, writes Inst senior fellow

• "This Just Isn't Going to Add Up": Experts Warn Trumponomics Would Hurt US, Guardian, 15 Jul 24

• Strain: The Economic World We've Lost, Project Syndicate, 10 Jun 24 [via Amer Enterp Inst (blog)]

Curtright: 'Circular' Economic Development Projects Could Build Common Ground, RAND (blog), 24 May 24:

A 'circular economy' is one that reuses products and materials--through recycling, upcycling, or repurposing--to reduce waste, to use less water and energy, and to extract fewer resources from the earth, writes RAND senior scientist with a focus on energy/environment

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