Labor Market Stress

NYC’s Finance Jobs Won’t Recover for Six Years, Analysis Shows

https://www.bloomberg.com/news/articles/2020-05-31/nyc-s-finance-jobs-won-t-recover-for-six-years-analysis-shows

Average Workers Can’t Bear Any More Risk

https://www.theatlantic.com/ideas/archive/2020/05/average-workers-cant-bear-any-more-risk/612385/

Yale’s Jacob Hacker notes:

“The flip side is that a dynamic free-market economy without sound safety nets breeds backlash. And if that backlash doesn’t deliver social insurance—because, say, the party in power is hostile to the welfare state—it will deliver social discord instead. Denying risks doesn’t make them disappear. It just puts democracy and markets on a collision course”. 

Unemployment Benefits Aren’t Too High. Wages Are Too Low.

https://www.barrons.com/articles/unemployment-benefits-arent-too-high-wages-are-too-low-51590700686

‘Just Sitting in Limbo.’ For Many Professionals, Careers Are on Hold.

https://www.nytimes.com/2020/05/27/business/coronavirus-careers-on-hold.html

Will COVID-19 Leave Lasting Economic Scars?

https://www.richmondfed.org/-/media/richmondfedorg/publications/research/economic_brief/2020/pdf/eb_20-07.pdf

Money Creation

How the Government Creates Stimulus Money

https://www.wsj.com/video/how-the-government-creates-stimulus-money/8D3FC53F-C697-40EC-A316-4FF027EEB08F.html 

India - Economic and Political Update

Global Supply Chains

Pandemic Is an Opportunity for Developing Nations

https://www.bloomberg.com/opinion/articles/2020-05-31/covid-19-is-opportunity-for-emerging-market-manufacturers

As Covid-19 Disrupts Global Supply Chains, Will Companies Turn to India?

https://hbr.org/2020/05/as-covid-19-disrupts-global-supply-chains-will-companies-turn-to-india

India’s distant dream of becoming the world’s big factory

https://www.livemint.com/opinion/columns/india-s-distant-dream-of-becoming-the-world-s-big-factory-11589725006952.html

The world needs pharmaceuticals from China and India to beat coronavirus

https://theconversation.com/the-world-needs-pharmaceuticals-from-china-and-india-to-beat-coronavirus-138388

Dealing with the Coronavirus Shock

These Startups Are Combating Covid-19 With Grants from An Indian Billionaire

https://www.forbes.com/sites/anuraghunathan/2020/05/28/these-startups-are-combating-covid-19-with-grants-from-an-indian-billionaire/#75bcbf8e23d3

PM Modi's Letter to Nation Talks of Migrant Workers' Suffering

https://www.ndtv.com/india-news/pm-narendra-modi-letter-to-nation-tremendous-suffering-says-pm-referring-to-migrants-2237546
The Rich Love India’s Lockdown. For the Poor It’s Another Story.

https://www.nytimes.com/2020/05/30/opinion/sunday/india-coronavirus-lockdown-inequality.html

The migrant crisis points to a need for more megacities

https://www.livemint.com/opinion/columns/the-migrant-crisis-points-to-a-need-for-more-megacities-11589992322435.html
Direct-selling helps Indian farmers swerve food waste under lockdown

https://www.dw.com/en/direct-selling-helps-indian-farmers-swerve-food-waste-under-lockdown/a-53559834 

One year of Modi govt 2.0 — more hits than misses

https://www.livemint.com/politics/news/one-year-of-modi-govt-2-0-more-hits-than-misses-11590809608876.html

Economics of Arms Sales

Crises are fueling the global arms trade: SIPRI report

https://www.dw.com/en/crises-are-fueling-the-global-arms-trade-sipri-report/a-52688298

Russian arms exports to Africa: Moscow's long-term strategy

https://www.dw.com/en/russian-arms-exports-to-africa-moscows-long-term-strategy/a-53596471 

Population Heterogeneity and Support for Welfare Programs

Racism Is the Biggest Reason the U.S. Safety Net Is So Weak

https://www.bloomberg.com/opinion/articles/2020-05-30/racism-is-the-biggest-reason-u-s-safety-net-is-so-weak

Noah Smith notes:

“Economists are often criticized for ignoring the political aspects of their theories. At least since the end of World War II, economists have generally seen their role as offering expert advice to wise technocratic leaders -- “whispering in the ears of princes.” But in the real world, leaders with both the wisdom to listen to academic experts and the power to implement any much less all of their recommendations are quite rare; more often, the political world is a tangle of interest groups, culture wars, partisan bickering and electoral expediency …

… the key isn't how similar the inhabitants of a country might appear on paper, but how much they see themselves as one people; fractionalization is in the mind, rather than in the genes. That implies that the way forward for the U.S. and other diverse countries, to become more equal and prosperous, is to de-emphasize racial and ethnic divisions and promote a shared identity.”.

The legacy of Alberto Alesina

https://www.economist.com/finance-and-economics/2020/05/28/the-legacy-of-alberto-alesina 

Western Media Coverage - Domestic versus International Issues

How Western media would cover Minneapolis if it happened in another country

https://www.washingtonpost.com/opinions/2020/05/29/how-western-media-would-cover-minneapolis-if-it-happened-another-country/

Shayera Dark notes:

https://www.project-syndicate.org/commentary/overcoming-western-media-stereotypes-of-africa-by-shayera-dark-2019-01

“This penchant to accentuate the negative does more than reduce Africa to stereotypes; it also feeds the one-dimensional narrative of Africa as a war-torn, disease-ridden, poverty-stricken hellscape where all hope dies. This inclination to fit people and events into simple plot lines leads to what Nigerian author Chimamanda Ngozi Adichie calls the “danger of a single story.” A limited viewpoint, repeatedly promulgated, comes to frame all coverage and emerges as the only truth.”

Related:

Hiding the Real Africa

https://archives.cjr.org/reports/hiding_the_real_africa.php 

Debating the Shape of the Economic Recovery

Forget Swooshes and V’s. The Economy’s Future Is a Question Mark.

https://www.nytimes.com/2020/05/29/business/economy/economy-recovery-forecast-coronavirus.html

Why Economic Pain Could Persist Even After the Pandemic Is Contained

https://www.nytimes.com/2020/05/11/upshot/virus-lasting-economic-effects.html

Weekend Readings - May 29-30

Germany says it wants to make Europe ‘strong again’

https://www.washingtonpost.com/world/europe/germany-taking-a-page-from-trump-says-it-wants-to-make-europe-strong-again/2020/05/29/77080fee-a1a9-11ea-9d96-c3f7c755fd6e_story.html

Fast-acting countries cut their coronavirus death rates while US delays cost thousands of lives

https://theconversation.com/fast-acting-countries-cut-their-coronavirus-death-rates-while-us-delays-cost-thousands-of-lives-139018

Manhattan Faces a Reckoning if Working from Home Becomes the Norm

https://www.nytimes.com/2020/05/12/nyregion/coronavirus-work-from-home.html 

Banning Chinese STEM Students Would Backfire on U.S.

https://www.bloomberg.com/opinion/articles/2020-05-28/banning-chinese-stem-students-would-backfire-on-u-s

China-US rivalry and threats to globalisation recall ominous past
https://www.ft.com/content/5887ec6c-9d97-11ea-b65d-489c67b0d85d

Chinese Aggression Presents an Opportunity for India

https://thediplomat.com/2020/05/chinese-aggression-presents-an-opportunity-for-india/

India Is a Natural U.S. Ally in the New Cold War

https://www.wsj.com/articles/india-is-a-natural-u-s-ally-in-the-new-cold-war-11590600011

The Significance of Hong Kong

Hong Kong was a global crossroads. Now it’s a fault line.

https://www.washingtonpost.com/world/2020/05/29/hong-kong-autonomy-china-trump/

Carmen Reinhart – World Bank’s New Chief Economist

The World Bank lands Carmen Reinhart as chief economist

https://www.economist.com/finance-and-economics/2020/05/30/the-world-bank-lands-carmen-reinhart-as-chief-economist 

Is There a Link between Inflation and Equity Returns?

What is the link between inflation and equity returns?

https://www.economist.com/finance-and-economics/2020/05/28/what-is-the-link-between-inflation-and-equity-returns

Is Inflation Dead? Some Investors Bet It Could Roar Back

https://www.wsj.com/articles/is-inflation-dead-some-investors-bet-it-could-roar-back-11590750353 

Artificially Inflated Stock Market?

Dismal Earnings, Bullish Stock Investors and the Fed’s Invisible Hand

https://www.nytimes.com/2020/05/27/business/stock-market-coronavirus.html

What’s Keeping Stocks Afloat? The ‘Microsoft Market’
https://www.bloomberg.com/opinion/articles/2020-05-29/in-coronavirus-pandemic-microsoft-market-keeps-stocks-afloat 

Repeat After Me: The Markets Are Not the Economy

https://www.nytimes.com/2020/05/10/business/stock-market-economy-coronavirus.html

Why Are Stocks Soaring in the Middle of a Pandemic?

https://foreignpolicy.com/2020/05/29/stock-market-rally-coronavirus-pandemic/ 

Lockdown Exit and Risk of a Second Wave

Cautious East, wild West: Nations diverge on right way to exit lockdown

https://asia.nikkei.com/Spotlight/Cover-Story/Cautious-East-wild-West-Nations-diverge-on-right-way-to-exit-lockdown 

US Economy: Is the Worst Over?

U.S. Economy Starts to Rise from Abyss Though Pain Far From Over

https://www.bloomberg.com/graphics/recovery-tracker/  

The economy is tiptoeing back to life as Americans start spending again

https://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2020/05/26/the-finance-202-the-economy-is-tiptoeing-back-to-life-as-americans-start-spending-again/5ecc5f9588e0fa672700491a /

For Economy, Worst of Coronavirus Shutdowns May Be Over

https://www.wsj.com/articles/for-economy-worst-of-coronavirus-shutdowns-may-be-over-11590408000 

Should Colleges Reopen in Fall?

Why failing to reopen Purdue University this fall would be an unacceptable breach of duty

https://www.washingtonpost.com/opinions/why-we-have-a-responsibility-to-open-purdue-university-this-fall/2020/05/25/da3b615c-9c62-11ea-ac72-3841fcc9b35f_story.html

Why Science Alone Could Not Tell Us Whether to Reopen Notre Dame

https://www.nytimes.com/2020/05/26/opinion/notre-dame-university-coronavirus.html 

The Long Shadow of Cold War Politics

A Cold War legacy many Americans forget

https://www.washingtonpost.com/world/2020/05/26/vincent-bevins-book-indonesia/

China Rivalry May Put the U.S. Back in the Coup Business

https://www.bloomberg.com/opinion/articles/2020-05-12/china-rivalry-may-put-the-u-s-back-in-the-coup-business

How the Taliban Outlasted a Superpower: Tenacity and Carnage

https://www.nytimes.com/2020/05/26/world/asia/taliban-afghanistan-war.html

“A grim history looms. The last time an occupying power left Afghanistan — when the U.S.-backed mujahedeen insurgency helped push the Soviets to withdraw in 1989 — guerrillas toppled the remaining government and then fought each other over its remains, with the Taliban coming out on top….

Over the years, the group’s top leadership has mostly remained in Pakistan, where the insurgency’s reconstitution was supported by Inter-Services Intelligence, the Pakistani military spy agency. Those havens have offered continuity even as the rank and file suffer heavy casualties in Afghanistan”.

Book Recommendation:

Financial Nationalism - New Dimension in the China-US Conflict

U.S. Nationalism Pits the Financial World Against China

https://www.bloomberg.com/opinion/articles/2020-05-26/u-s-nationalism-pits-the-financial-world-against-china

America’s Delisting Threat Could Pay Off

https://www.project-syndicate.org/commentary/benefit-of-threatening-to-delist-chinese-companies-by-shang-jin-wei-2020-05

Fears of Wall Street delisting drive Chinese companies to Plan B

https://asia.nikkei.com/Business/Markets/Fears-of-Wall-Street-delisting-drive-Chinese-companies-to-Plan-B

Trump’s demonization of China puts U.S. in financial peril

https://www.washingtonpost.com/business/2020/05/22/trumps-demonization-china-puts-us-financial-peril/ 

The End of the US-China Relationship
https://www.project-syndicate.org/commentary/end-of-us-china-relationship-harms-both-sides-by-stephen-s-roach-2020-04 

Political Economist Alberto Alesina

It is hard to imagine the field of political economy without Alberto Alesina

https://www.washingtonpost.com/opinions/2020/05/24/it-is-hard-imagine-field-political-economy-without-alberto-alesina/ 

Rich Chinese Go Real Estate Shopping

Rich Chinese Snapping up Luxury Homes from Singapore to Sydney

https://www.bloomberg.com/news/articles/2020-05-25/china-luxury-home-buyers-are-popping-up-from-singapore-to-sydney 

Challenges Facing the Business World

The Covid Surcharge: Companies Confront the Unforgiving Economics of Coronavirus

https://www.wsj.com/articles/the-covid-surcharge-companies-confront-unforgiving-economics-of-coronavirus-11590139802 

Interview – Jonathan Haidt

Jonathan Haidt Is Trying to Heal America’s Divisions

https://www.theatlantic.com/ideas/archive/2020/05/jonathan-haidt-pandemic-and-americas-polarization/612025/

The Coddling of the American Mind

https://www.theatlantic.com/magazine/archive/2015/09/the-coddling-of-the-american-mind/399356/ 

A Global Debt Problem

Richest nations face $17tn government debt burden from coronavirus

https://www.ft.com/content/66164bbc-40c7-4d91-a318-a0b4dbe4193e  

Why Italy’s debt matters for everybody

https://www.washingtonpost.com/opinions/why-italys-debt-matters-for-everybody/2020/05/24/12b2f310-9baf-11ea-ac72-3841fcc9b35f_story.html

COVID-19 Is Exposing Wall Street’s Reckless Gamble on Bad Debt

https://www.newyorker.com/business/currency/the-coronavirus-is-exposing-wall-streets-reckless-gamble-on-bad-debt

Three Sovereign Debt Experts Explain How the World Can Instantly Bring Aid to Emerging Markets

https://www.bloomberg.com/news/articles/2020-05-25/three-sovereign-debt-experts-explain-how-the-world-can-instantly-bring-aid-to-emerging-markets 

Dealing with China

What Kind of Regime Does China Have? By FRANCIS FUKUYAMA

https://www.the-american-interest.com/2020/05/18/what-kind-of-regime-does-china-have/

China Is Its Own Worst Enemy

https://www.project-syndicate.org/commentary/china-government-worsens-global-covid19-backlash-by-brahma-chellaney-2020-05

Democrats are falling into a familiar trap on China

https://www.washingtonpost.com/opinions/democrats-are-falling-into-a-familiar-trap-on-china/2020/05/21/f83865cc-9ba1-11ea-ac72-3841fcc9b35f_story.html

Zakaria notes:

“Republicans take a legitimate challenge to the United States and pump it up into a mortal danger, massively exaggerating the threat and accusing the Democrats of appeasement or even of taking part in a conspiracy with the enemy. And Democrats, instead of standing their ground, get scared and join in the scaremongering. In response to ads bashing Biden and China, Biden released his own China-bashing ad, which even competed with Trump in its racially charged tone. Rather than explaining that policy toward China requires both confrontation and cooperation, the Biden campaign has basically conceded the argument to Trump”. 

Work and Pay

Pay Cuts Become a Tool for Some Companies to Avoid Layoffs

https://www.nytimes.com/2020/05/24/business/economy/coronavirus-pay-cuts.html

Why Facebook’s Plan to Tie Remote Pay to Location Will Probably Fail

https://nymag.com/intelligencer/2020/05/facebooks-plan-to-tie-pay-to-location-will-probably-fail.html

A Pessimistic Economic Forecast

Why Our Economy May Be Headed for a Decade of Depression

https://nymag.com/intelligencer/2020/05/why-the-economy-is-headed-for-a-post-coronavirus-depression-nouriel-roubini.html 

Larry Summers on Globalization

How to Fix Globalization—for Detroit, Not Davos

https://www.the-american-interest.com/2020/05/22/how-to-fix-globalization-for-detroit-not-davos/ 

Foreign Students in the US

Will Trump Opt to Restrict Foreign Student Work Program?

https://www.insidehighered.com/news/2020/05/29/trump-administration-reportedly-considers-restrictions-foreign-student-work-program

Trump reportedly wants to restrict visa programs for skilled workers

https://www.vox.com/2020/5/24/21266920/trump-h1b-opt-visa-immigration-student

Trump Administration Expected to Limit Work Program for Foreign Graduates
https://www.wsj.com/articles/trump-administration-expected-to-limit-work-program-for-foreign-graduates-11590242401

Foreign STEM Graduates Are Being Shut Out of the U.S. Job Market

https://www.bloomberg.com/news/articles/2020-05-19/foreign-stem-students-are-being-shut-out-of-u-s-job-market

‘My World Is Shattering’: Foreign Students Stranded by Coronavirus

https://www.nytimes.com/2020/04/25/us/coronavirus-international-foreign-students-universities.html

Related:

https://www.bostonglobe.com/2020/05/14/metro/colleges-anticipate-big-drop-international-student-enrollment/ 

Debating the Future of Colleges/Universities

College as We Know It Coming to an End? Don’t Bet on It

https://www.bloomberg.com/news/articles/2020-05-22/college-students-parents-professors-hate-online-classes

Joe Nocera observes:

“Do you remember MOOCs? The initials stand for massive open online courses, and there was a moment, about a decade ago, when they were all the rage in higher-education circles. Some predicted that online courses would become a dominant mode of learning, allowing universities to expand enrollment significantly while lowering their own costs. Although MOOCs are still around—mainly serving nonstudents paying for online lectures from high-profile professors—their impact on higher ed has been marginal. The reason is that students didn’t like online classes. Neither did their parents. And neither did their professors”.

Scott Galloway predicts a handful of elite cyborg universities will soon monopolize higher education.

https://nymag.com/intelligencer/2020/05/scott-galloway-future-of-college.html

The liberal arts are under attack. So why do the rich want their children to study them?
https://www.washingtonpost.com/education/2019/05/26/liberal-arts-are-under-attack-so-why-do-rich-want-their-children-study-them/

A looming shortage of students will upend the business model of higher education

https://www.bloomberg.com/opinion/articles/2020-05-11/what-colleges-must-do-to-survive-the-coronavirus-crisis

Covid-19 Will Make Colleges Prove Their Worth

https://www.bloomberg.com/opinion/articles/2020-05-25/covid-19-will-make-colleges-prove-their-worth 

Five Reasons the Pandemic Is Battering College Finances

https://www.forbes.com/sites/davidrosowsky/2020/05/14/five-reasons-the-pandemic-is-battering-college-finances/#5cd356cd4b4f

Risky Strategy by Many Private Colleges Leaves Them Exposed

https://www.nytimes.com/2020/05/26/upshot/virus-colleges-risky-strategy.html 

America’s Creaky Welfare System

Inefficiencies bedevil America’s response to soaring joblessness

https://www.economist.com/united-states/2020/05/16/inefficiencies-bedevil-americas-response-to-soaring-joblessness 

Diminishing Marginal Returns – Interesting Real-World Example

China Is Too Rich to Splurge on Infrastructure

As countries get wealthier, additional spending is unlikely to deliver the same kick to growth

https://www.bloomberg.com/opinion/articles/2020-05-23/china-npc-take-any-big-spending-plans-with-a-degree-of-caution  

Lessons from Germany

What's Angela Merkel's secret to crisis leadership in Germany?

https://www.dw.com/en/whats-angela-merkels-secret-to-crisis-leadership-in-germany/av-53522542

Germany’s Lessons for China and America

https://www.nytimes.com/2020/05/22/opinion/coronavirus-germany-china-america.html

Emerging Market Debt Crisis

The Pandemic Pushes Emerging Markets into a Debt Crisis, Yet Again

https://www.bloomberg.com/news/articles/2020-05-22/coronavirus-pandemic-pushes-developing-world-to-brink-of-crisis

The Rich World’s Pandemic Imperative

https://www.project-syndicate.org/commentary/advanced-economies-coordinate-financial-and-health-assistance-by-anne-krueger-2020-05

Time for a Selective Debt Jubilee

https://www.project-syndicate.org/commentary/covid19-case-for-2020-debt-jubilee-by-willem-h-buiter-2020-05 

Debt Troubles Hit EMs:

https://www.project-syndicate.org/commentary/debt-relief-most-effective-covid19-assistance-by-gordon-brown-and-lawrence-h-summers-2020-04

https://www.project-syndicate.org/commentary/suspend-emerging-and-developing-economies-debt-payments-by-carmen-reinhart-and-kenneth-rogoff-2020-04

Emerging markets are in turmoil. The IMF must step in to help.

https://www.economist.com/leaders/2020/04/11/emerging-markets-are-in-turmoil-the-imf-must-step-in-to-help-heres-how

https://www.economist.com/finance-and-economics/2020/04/11/should-the-imf-dole-out-more-special-drawing-rights 

Making Colleges More Affordable

Income Share Agreements: Some schools are offering to buy a share of students’ future income in exchange for funding their education.

https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2020/q1/feature1.pdf

Purdue’s Bold Experiment with College Tuition Freeze

https://vivekjayakumar.blogspot.com/2020/03/purdues-bold-experiment-with-college.html

Wealth Creation

How to Get Rich? Make a Lot or Save a Lot?

https://www.bloomberg.com/opinion/articles/2020-05-21/coronanvirus-is-good-time-to-assess-what-s-needed-for-a-good-life 

Does India Need Additional Fiscal Stimulus?

No, India Doesn’t Need a Bigger Stimulus

https://www.bloomberg.com/opinion/articles/2020-05-21/india-s-coronavirus-relief-package-is-the-right-size  

Will Inflation or Deflation Follow the Pandemic?

Why inflation might follow the pandemic

https://www.ft.com/content/cdae43be-9901-11ea-adb1-529f96d8a00b

Will inflation Cassandras be proven wrong once again?

https://www.washingtontimes.com/news/2020/may/19/will-inflation-cassandras-be-proven-wrong-once-aga/

Deflation Would Be a Crippling Side Effect of the Pandemic

https://www.bloomberg.com/news/articles/2020-05-21/could-the-coronavirus-pandemic-lead-to-deflation 

Education and Human Capital: Boosting Africa's Universities

African School of Economics

https://www.economist.com/middle-east-and-africa/2020/05/23/trust-slavery-and-the-african-school-of-economics

A booming population is putting strain on Africa’s universities

https://www.economist.com/middle-east-and-africa/2019/08/10/a-booming-population-is-putting-strain-on-africas-universities

How Africa can encourage home-grown maths boffins

https://www.economist.com/middle-east-and-africa/2019/08/10/how-africa-can-encourage-home-grown-maths-boffins 

Trump and US Institutions

The System Failed the Test of Trump

The story of recent years is of institutions that were unable to constrain the presidency.

https://www.theatlantic.com/ideas/archive/2020/05/system-failed-test/611911/

DAVID FRUM, former speechwriter for President George W. Bush:

“The story of the Trump years is a story of institutions that failed. The Department of Justice failed. The inspectors general failed. Congressional oversight failed. The national-security establishment failed. The courts failed. Trump has done things that no previous American president would ever have dared, that no previous president sank low enough even to imagine. Sometimes he was stopped, more often not. But whether stopped or not in any particular case, he has never ceased pressing ahead to do even worse the next time”. 

US Healthcare Sector in Turmoil

1.5 Million Unemployed Health-Care Workers Signal a Failed System

https://www.bloomberg.com/opinion/articles/2020-05-20/doctors-office-layoffs-in-pandemic-reveal-u-s-health-care-faults  

Fee-for-service has been a disaster for medical providers in the pandemic, and there is a better alternative. But will anybody switch? 

Voters and American Democracy

Trump Steps Up Attacks on Mail Vote, Making False Claims About Fraud

https://www.nytimes.com/2020/05/20/us/politics/trump-michigan-vote-by-mail.html

Wisconsin is starting to resemble a failed state

https://www.theguardian.com/commentisfree/2020/may/19/wisconsin-coronavirus-supreme-court-failed-state

Conservative Columnist George F. Will:

Congress’s power is in its purse. And Trump has snatched it.

https://www.washingtonpost.com/opinions/congresss-power-is-in-its-purse-and-trump-has-snatched-it/2020/04/23/716e669c-84d9-11ea-878a-86477a724bdb_story.html

How not to hold an election during a pandemic

https://www.washingtonpost.com/opinions/how-not-to-hold-an-election-during-a-pandemic/2020/04/14/ea908ac0-7e79-11ea-9040-68981f488eed_story.html

Impact of the Pandemic on the Higher Education System

How the Pandemic Could Transform Higher Ed

WSJ – Video: https://on.wsj.com/2zQow2a

The pandemic increases the challenges facing business schools

https://www.economist.com/business/2020/05/16/the-pandemic-increases-the-challenges-facing-business-schools

Cambridge University moves all lectures online until summer 2021

https://www.theguardian.com/uk-news/2020/may/19/cambridge-university-moves-all-lectures-online-until-summer-2021

Cambridge University to scrap face-to-face lectures for entire year due to pandemic

https://www.cnn.com/2020/05/20/uk/cambridge-university-lectures-pandemic-scli-gbr-intl/index.html

“Cambridge and Oxford, the UK's two leading universities, rely far more on smaller group teaching than large lectures -- so the move will probably not be as disruptive as it would be at most institutions”.

UK universities facing £760m hit as one in five students plan to defer

https://www.theguardian.com/education/2020/may/20/uk-universities-facing-760m-hit-one-in-five-students-plan-defer

Financial Challenges Facing Colleges/Universities
https://vivekjayakumar.blogspot.com/2020/05/what-happens-to-college-finances-if.html

US Economic Outlook

Covid-19 Will Expose the Ghosts in the U.S. Economy

https://www.bloomberg.com/opinion/articles/2020-05-19/covid-19-will-expose-the-many-ghosts-in-the-u-s-economy

Unemployment is so bad that these economists are proposing a new way to measure it

https://www.washingtonpost.com/opinions/2020/05/16/unemployment-is-so-bad-that-these-economists-are-proposing-new-way-measure-it/

Facing Adulthood with an Economic Disaster’s Lasting Scars

https://www.nytimes.com/2020/05/19/business/economy/coronavirus-young-old.html

Washington shows just why the country shouldn’t depend on it for stimulus

https://www.washingtonpost.com/opinions/washington-shows-just-why-the-country-shouldnt-depend-on-it-for-stimulus/2020/05/11/f4c2650a-9386-11ea-91d7-cf4423d47683_story.html

Stock Prices Make Lofty Promises That Earnings Can’t Keep

https://www.bloomberg.com/opinion/articles/2020-05-19/coronavirus-stock-prices-make-promises-that-earnings-can-t-keep

Beware of the Hype

Moderna vaccine shows promising early results

https://www.washingtonpost.com/health/2020/05/18/coronavirus-vaccine-first-results/

“One of Moderna’s directors, Moncef Slaoui — who owns millions in company stock options — days ago left his role to become chief scientist for a White House vaccine initiative”.

Washington Post reports:

“The company reported that in eight patients who had been followed for a month and a half, the vaccine at low and medium doses triggered blood levels of virus-fighting antibodies that were similar or greater than those found in patients who recovered. That would suggest, but doesn’t prove, that it triggers some level of immunity”.

Earlier Examples –

He Was a Science Star. Then He Promoted a Questionable Cure for Covid-19.

https://www.nytimes.com/2020/05/12/magazine/didier-raoult-hydroxychloroquine.html

The Politics of Hydroxychloroquine

https://blogs.sciencemag.org/pipeline/archives/2020/04/22/the-politics-of-hydroxychloroquine

Interview: Reinhart and Rogoff

Harvard’s Reinhart and Rogoff Say This Time Really Is Different

https://www.bloomberg.com/news/features/2020-05-18/harvard-s-financial-crisis-experts-this-time-really-is-different 

Red States versus Blue States: Relative Economic Performance and Fiscal Policy Issues

Republican-dominated states lag in growth and debt performance.

https://www.bloomberg.com/opinion/articles/2020-05-18/coronavirus-economy-investors-don-t-share-trump-blue-state-scorn

‘Blue state bailouts’? Some states like New York send billions more to federal government than they get back

https://theconversation.com/blue-state-bailouts-some-states-like-new-york-send-billions-more-to-federal-government-than-they-get-back-137950

“The biggest givers in our latest report, based on 2018 data, were New York, which paid in US$35 billion more than it received; New Jersey, which paid $21 billion more; Massachusetts, which paid $16 billion more; and Connecticut, which paid $14 billion more than it received.

Combined, these states paid over $50 billion more in taxes than they received in federal spending”. 

Trump’s leadership failure makes a feeble economy and resurgent virus more likely

https://www.washingtonpost.com/opinions/trumps-leadership-vacuum-makes-a-feeble-economy-and-resurgent-virus-more-likely/2020/05/17/b53a62c4-96cf-11ea-9f5e-56d8239bf9ad_story.html

The Future of Work, Office Design, and Urban Living

Covid-19 Won’t Change Everything for Workers. Right?

https://www.bloomberg.com/opinion/articles/2020-05-13/covid-19-won-t-change-everything-for-workers-right

Work from Home Is Fine . . . For Now

https://www.bloomberg.com/opinion/articles/2020-05-16/work-from-home-problems-will-becomes-clear-with-time

Welcome to your new, post-pandemic office

https://www.cnn.com/2020/05/14/success/office-look-like-after-coronavirus/index.html

Why Gen Z will be hit the hardest by the financial fallout from coronavirus

https://www.cnn.com/2020/05/13/business/coronavirus-generation-z-jobs-intl-gbr/index.html

A Backlash Against Cities Would Be Dangerous

https://www.theatlantic.com/ideas/archive/2020/05/urban-density-not-problem/611752/ 

Useful History Lessons

The Lessons of the Great Depression

https://www.theatlantic.com/ideas/archive/2020/05/how-rebuild-nation/611704/

How plagues change the world

https://www.newstatesman.com/2020/05/how-plagues-change-world 

Where are Stocks Headed?

Options Market Signals a Dire Picture for Stocks

https://www.bloomberg.com/opinion/articles/2020-05-18/options-market-signals-a-dire-outlook-for-stocks

Have the Record Number of Investors in the Stock Market Lost Their Minds?

https://www.newyorker.com/news/our-columnists/have-the-record-number-of-investors-in-the-stock-market-lost-their-minds

When Warren Buffett Sours on Goldman Sachs, Time to Worry

https://www.bloomberg.com/opinion/articles/2020-05-15/warren-buffett-sours-on-goldman-sachs-time-to-worry

The S&P 500 Was Stopped in Its Tracks Last Week. Here’s Why Another Drop Could Be in the Offing.

https://www.barrons.com/articles/the-sp-500-was-stopped-in-its-tracks-last-week-heres-why-another-drop-could-be-in-the-offing-51589589650 

This is the most expensive time to buy stocks in 20 years

https://www.cnn.com/2020/05/12/investing/stock-market-dow-coronavirus-goldman-sachs/index.html 

Covid-19 Exposes the Decline of US State Capacity

Inside Trump’s coronavirus meltdown [FREE TO READ ARTICLE]

https://www.ft.com/content/97dc7de6-940b-11ea-abcd-371e24b679ed

What went wrong in the president’s first real crisis — and what does it mean for the US?

Crisis exposes how U.S. has hollowed out its government

https://www.washingtonpost.com/graphics/2020/politics/government-hollowed-out-weaknesses/

Related:

https://vivekjayakumar.blogspot.com/2020/03/state-capacity-matters.html 

Revamping Indo-Pacific Alliances

India and Japan should seize chance to form close alliance

https://asia.nikkei.com/Opinion/India-and-Japan-should-seize-chance-to-form-close-alliance

Rise of the Quad-Plus in the Indo-Pacific Region
https://www.newstatesman.com/world/asia/2020/05/rise-indo-pacific 

Japan and India — a special relationship

https://www.japantimes.co.jp/opinion/2019/11/22/commentary/japan-commentary/japan-india-special-relationship/

U.S.-India Defense Ties Grow Closer as Shared Concerns in Asia Loom

https://www.nytimes.com/2019/11/20/world/asia/india-military-exercises-trump.html