Business
When the Central Bank Goes Political
The case before the Supreme Court about Federal Reserve board appointments is not abstract. The evidence on what happens when...
The 100-Year Company
Japan has 33,000 firms over a century old. Their survival is not cultural accident — it is structural. What they...
The Vanishing Public Company
The number of US listed firms has nearly halved since 1996. Regulation explains a small part of it. What replaced...
Four years of American industrial policy — what the record shows
The CHIPS and Science Act and the Inflation Reduction Act became law in August 2022. The record, nearly four years...
The case against treating AI infrastructure as a technology decision
The roughly seven hundred billion dollars of annual capital expenditure committed for 2026 by five firms is discussed as a...
The Last Long-View Institutions
Sovereign wealth funds are not smarter than other investors. They hold longer time horizons because they are structurally insulated from...
How the IMF actually models catastrophe — a careful reading
The April 2026 World Economic Outlook presents three scenarios for the global economy. The most optimistic is already out of...
Prices Are Not Forecasts
Prediction markets have become a preferred interface between political uncertainty and public belief. The case is that the prices being...
Prediction markets know things first. That is the question Congress is avoiding.
The Polymarket investigation frames the issue as one of insider trading. The more fundamental question is epistemological: what does it...
AI is eliminating professions. The economics coverage is missing the real cost.
The analysis of AI-driven job displacement focuses almost exclusively on income. Work in advanced economies is not primarily an income...
The Efficiency Trap
For thirty years, companies have been optimising themselves to run perfectly. The result is organisations that fail completely. In the...
