Robert C. Hockett and Saule T. Omarova (Cornell): Private Wealth and Public Goods: A Case for a National Investment Authority. William H. Janeway on American political economy, disrupted. The most important least-noticed economic event of the decade: A localized recession in manufacturing-heavy areas can explain a lot of things. For whom the economy grows: G.D.P. is only part of the story, and we need to know the rest (and more). A better bailout was possible: Back in 2008, a critical opportunity was missed when the burden of post-crisis adjustment was tilted heavily in favor of creditors relative to debtors. There could be a financial crash before end of Trump’s first term, experts say, citing looming debts.
