If there is a silver lining in the Trump cloud, it is a new sense of solidarity over core values such as tolerance and equality, sustained by awareness of the bigotry and misogyny, whether hidden or open, that Trump and his team embody.
Letting bygones be bygones is a basic principle in economics.
I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous.
I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are.
With the election of Trump, America's soft power has taken a big hit. The United States has moved from a position of leadership in the creation of a rules-based international system to a position of leadership in its destruction and the creation of a regime of global protectionism. The damage will be long-lasting.
Under Ronald Reagan in the United States and Margaret Thatcher in the U.K., there was a rewriting of the basic rules of capitalism. These two governments changed the rules governing labour bargaining, weakening trade unions, and they weakened anti-trust enforcement, allowing more monopolies to be created.
Tax policy should reflect a country's values and address its problems.
There is a broad consensus, not only in the United States but in most of the world, that if you are in an economic downturn, you need to stimulate. Germany seems to be an exception.
China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway.
Donald Trump's astonishing victory in the U.S. presidential election has made one thing abundantly clear: too many Americans - particularly white male Americans - feel left behind.
Hedge funds are not noted for their long-term thinking - for them, a quarter is an eternity.
When you have a highly divided society, it's hard to come together to make investments in the common good.
The reality is that what we did in 2010 with the Dodd-Frank wasn't enough.
In addition to offering benefits to those who invest, carry out research, and create jobs, higher taxes on land and real-estate speculation would redirect capital toward productivity-enhancing spending - the key to long-term improvement in living standards.
Trump can bring jobs back, but they will be minimal-wage jobs, not the high-paying jobs of the 1950s.
When you don't have equality of opportunity because you don't have equal access to education, it just seems so outrageous. It weakens our economy and leads to more inequality.
President Trump sees the world in transactional and zero-sum terms - if something is good for China, it must be bad for the U.S. By contrast, economists see the world in much more nuanced ways: if globalization is well-managed, it can be a positive-sum game, where both the U.S. and China gain; if it is badly managed, it can be negative-sum.
Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to happen in the United States, and it's not going to happen in Europe.
We share a common planet, and the world has learned the hard way that we have to get along and work together. We have learned, too, that cooperation can benefit all.
America and the world are paying a high price for devotion to the extreme anti-government ideology embraced by Donald Trump and his Republican party.
