Monday, December 22, 2025

Is Adam Smith Misinterpreted?

Adam Smith is misinterpreted and his influence overstated
https://www.economist.com/christmas-specials/2025/12/18/adam-smith-is-misinterpreted-and-his-influence-overstated
The most famous book in economics is less revolutionary than you think. 

Top Economic/Financial Concerns in 2026

Jobs Could Soon Replace Prices as Focus of Anxiety
https://www.wsj.com/economy/jobs-could-soon-replace-prices-as-focus-of-anxiety-3ca2416a
Inflation has been top-of-mind for years. That could change.
 
Expect Turbulent Asset Markets in 2026
https://www.project-syndicate.org/commentary/powerful-headwinds-facing-global-economy-in-2026-by-kenneth-rogoff-2025-12 

Trying to Gauge AI's Economic Impact

Ditch textbooks and learn how to use a wrench to AI-proof your job?
https://www.economist.com/international/2025/12/18/ditch-textbooks-and-learn-how-to-use-a-wrench-to-ai-proof-your-job
Generation Z is becoming less invested in university and more interested in skilled trades.
 
Job apocalypse? Not yet. AI is creating brand new occupations
https://www.economist.com/business/2025/12/14/job-apocalypse-not-yet-ai-is-creating-brand-new-occupations
Most needed: human skills. 

Monday, December 15, 2025

Germany Rethinks Trade with China

Why Germany Wants a Divorce with China
https://www.wsj.com/world/europe/why-germany-wants-a-divorce-with-china-0d59fb81
For the first time in decades, German businesses and politicians are questioning the unfettered free trade that turned the country into an industrial powerhouse. 

Sunday, December 14, 2025

Financial Sector Issues

Why private credit is creating major concerns among economists
https://youtu.be/srS-gMN1uRI
 
The Fed Did Banks a Solid This Week. More Favors May Be Needed
https://www.wsj.com/finance/banking/the-fed-did-banks-a-solid-this-week-more-favors-may-be-needed-d2bc2b10
The Federal Reserve’s next moves on the size of its balance sheet could matter for banks as much or more than its decisions on rate cuts. 

Consumer Loans Are Getting Harder to Tally—and the Risks Harder to Gauge
https://www.wsj.com/finance/banking/consumer-loans-are-getting-harder-to-tallyand-the-risks-harder-to-gauge-29bfeb90
Tracking borrowing gets complicated when more lending is funded beyond banks and public markets.

Boosting European Competitiveness

Only Creative Destruction Will Boost European Competitiveness
https://www.project-syndicate.org/commentary/innovation-policy-how-europe-can-return-to-technological-frontier-by-philippe-aghion-2025-12
Now that major geopolitical developments have forced Europeans to rethink how they will ensure their own prosperity, security, and sovereignty, policymakers must not take innovation for granted. This primary engine of economic growth will not run smoothly unless it is properly tuned and carefully maintained. 

Germany has a lawyer problem
https://www.economist.com/finance-and-economics/2025/12/11/germany-has-a-lawyer-problem
Its endless bureaucratic rules trap would-be reformers. 

Engineering and the Humanities in the Age of AI

“Everyone is so panicked”: Entry-level tech workers describe the AI-fueled jobpocalypse
https://restofworld.org/2025/engineering-graduates-ai-job-losses/
Engineering graduates face shrinking opportunities and rising pressure to upskill beyond their curriculum.
 
Stop Trying to Make the Humanities ‘Relevant’
https://www.theatlantic.com/ideas/2025/12/humanities-crisis-ai-camus/685233/
For humanities departments to continue to matter, they must challenge the modern world rather than accommodate it. 

DeepMind - Origin Story

The Thinking Game | Full Documentary
https://youtu.be/d95J8yzvjbQ 

Tech Bubbles - 1990s versus 2020s

The Eerie Parallels Between AI Mania and the Dot-Com Bubble
https://www.wsj.com/finance/stocks/the-eerie-parallels-between-ai-mania-and-the-dot-com-bubble-f99be6fe
Bulls deny that there’s a 1990s-style bubble inflating again. It’s worth going through a few of the similarities and differences. 


Is A.I. Actually a Bubble?
https://www.newyorker.com/culture/open-questions/is-ai-actually-a-bubble
The narrative of boom and bust is familiar—but also out of step with the possibilities of a new technology.

What Economists Got Wrong

Why Everyone Got Trump’s Tariffs Wrong
https://www.wsj.com/economy/why-everyone-got-trumps-tariffs-wrong-d16a4598
The president predicted a manufacturing renaissance. Economists forecast recession and runaway inflation. None of it has come to pass.


What economists got wrong in 2025
https://www.ft.com/content/995fd3d1-3917-4a86-b49e-ad5f4ac8f3fd
Forecasts dwelled too much on Donald Trump’s threats and not enough on offsetting factors. 

Friday, December 12, 2025

The Quixotic Quest for an “Infinite-Money Machine”

What Happens When an “Infinite-Money Machine” Unravels
https://www.newyorker.com/news/the-financial-page/what-happens-when-an-infinite-money-machine-unravels
After Michael Saylor’s software company Strategy stockpiled hundreds of thousands of bitcoins, he was hailed as an alchemist. Then things went awry. 

UK Economy - Too Much Pessimism?

The UK economy is not nearly as bad as you’ve been told
https://www.ft.com/content/5afff79e-0af7-4f96-b69f-c603cd083a50
A huge pessimistic bias in our national accounts leads us to doom and gloom which turns out to be nonsense. 

Reforming US Higher Education

It’s time to restore the civic function of US universities
https://www.ft.com/content/e5ea7d5a-e383-4d1f-a524-9473a818824c
Focusing on research at the expense of teaching has left institutions vulnerable to Trumpian attack.
 
Carlo Invernizzi Accetti (Professor and Chair of the Political Science Department at the City College of New York) notes:
“The dirty secret of elite higher education in the US is that, long before the Trump administration began attacking it, it had stopped prioritizing what students learn there.
The shift was incremental, and mostly well-intentioned, but decisive: prestige came to be measured by grant volume, citation counts and patent pipelines; not by whether undergraduates could weigh evidence, argue across difference, and act as citizens. The result is a university environment in which the most famous campuses resemble rarefied research parks with fun-house dormitories attached.” 

History Lesson: Fed Independence

This Isn’t the First Time the Fed Has Struggled for Independence
https://www.nytimes.com/2025/12/11/business/federal-reserve-independence-trump.html
The Trump administration is threatening the Fed’s autonomy, which the central bank regained with the Treasury-Fed accord in 1951. 

Is China’s Economy Undergoing a Structural Transformation?

Historic Shift Is Underway in China’s Economy as Investment Slump Deepens
https://www.nytimes.com/2025/12/12/business/china-investment-economy.html
Investment in manufacturing, infrastructure and property is expected to fall this year, a remarkable turn for an economy whose growth reshaped the world. 

Thursday, December 11, 2025

China's AI Advantage - Cheap Electricity

China’s AI Power Play: Cheap Electricity from World’s Biggest Grid
https://www.wsj.com/tech/china-ai-electricity-data-centers-d2a86935
Government push for power supremacy transforms Inner Mongolia. Tech leaders worry about a U.S.-China “electron gap.” 

Interesting Finance Research Findings

Why Riskier Stocks Don't Always Deliver Higher Returns: The Financial Distress Puzzle
https://www.fa-mag.com/news/the-financial-distress-puzzle--why-riskier-stocks-don-t-always-deliver-higher-returns-85060.html
Financial distress and return: A finite mixture approach
https://doi.org/10.1016/j.jcorpfin.2025.102779
 
 
When Bullish Markets Turn: What History Teaches About Future Returns
https://www.fa-mag.com/news/when-bullish-markets-turn--what-history-teaches-about-future-returns-84981.html
Estrada, Javier, Expected Stock Returns in Bullish Times (September 23, 2025). Available at SSRN: https://ssrn.com/abstract=5520280 or http://dx.doi.org/10.2139/ssrn.5520280 

Wednesday, December 10, 2025

Monetary Policy and Interest Rate Outlook

Fed Cuts Rates by Quarter Point, Signals It May Be Done for Now
https://www.wsj.com/economy/central-banking/fed-cuts-rates-again-signals-it-may-be-done-for-now-67069bb5
Stalled progress on inflation and a cooling job market made for one of the most divided Fed policy meetings in years.
 
Fed Cuts Rates Again, but Is Divided Over Future Moves
https://www.nytimes.com/2025/12/10/business/economy/fed-meeting-interest-rate-decision.html
Jerome Powell said officials would watch how the economy evolves and “haven’t made any decision about” cutting rates at their next meeting. 

Just How Divided Is the Fed?
https://www.morningstar.com/economy/just-how-divided-is-fed
Central bankers were far from achieving a consensus, even as the FOMC cut interest rates for the third time in 2025.


Powell bets big on productivity boost rescuing boxed-in Fed
https://www.reuters.com/markets/us/powell-bets-big-productivity-boost-rescuing-boxed-in-fed-2025-12-11/
Federal Reserve Chair Jerome Powell admitted on Wednesday that there is still no "risk-free" path for the central bank as it seeks to bring down stubbornly high inflation while also supporting an increasingly creaky labor market. But he suggested the Fed might have a "get-out-of-jail-free" card: higher productivity.

 
Related:
https://www.wsj.com/economy/jobs/fed-chair-jerome-powell-says-u-s-may-be-drastically-overstating-jobs-numbers-741c635d

Economics of Immigration

The Economics of Immigration
https://www.wsj.com/opinion/the-economics-of-immigration-9b4a5b9d
The optimum policy is credible enforcement of entry rules and integration of those already here. 

Are Refugees Good or Bad for the Economy? Here’s What the Numbers Say
https://www.wsj.com/economy/immigration-refugees-economy-charts-c0cd0782
They have high rates of entrepreneurship and over time produce more in tax revenues than they receive in government benefits, studies show.

Alternative Perspective:
Why mass immigration and generous welfare states don’t mix
https://www.telegraph.co.uk/news/2025/12/06/why-mass-immigration-and-generous-welfare-states-dont-mix/
An extraordinary explosion in fraud in the state of Minnesota reveals the problems of failing to grasp that integration goes two ways. 

The Health Insurance Crisis

$27,000 a Year for Health Insurance. How Can We Afford That?
https://www.nytimes.com/2025/12/10/opinion/health-care-aca-cost-insurance.html 

They raced to retire decades early — but soaring health-insurance costs are wrecking their plans
https://www.marketwatch.com/story/fire-fans-had-mapped-the-road-to-early-retirement-then-health-insurance-costs-exploded-03bd97f8
With pandemic-era subsidies for Obamacare set to end in 2026, people in the FIRE community are adjusting their plans to account for bigger health-insurance premiums.

Tuesday, December 9, 2025

Private Equity and the US Housing Market

Canada Wants to Attract Global Talent

‘Come North’: Canada Makes Play for H-1B Visa Holders with New Talent Drive
https://www.nytimes.com/2025/12/09/world/canada/canada-usa-immigration-h1-b-visa-talent.html
Canada says it will fast-track immigration for U.S. H1-B visa holders and spend over $1 billion to attract researchers from the United States and elsewhere. 


Related:
A Scientific Pipeline to the Nobel Prize Fueled by Immigrants
https://www.nytimes.com/2025/12/10/science/nobel-prize-immigrants-science.html
As three immigrants claim Nobel Prizes in science for the United States this year, experts warn that immigration crackdowns could undo American innovation.

FOMO and the AI Bubble Debate

What A.I. Bubble? Wall Street Sidesteps Fears of a Booming Stock Market.
https://www.nytimes.com/2025/12/09/business/wall-street-valuation-ai-bubble.html
The valuations of some companies are approaching those of the dot-com boom. But investors worry that pulling money from today’s market risks future gains.
 
Why the A.I. Boom Is Unlike the Dot-Com Boom
https://www.nytimes.com/2025/12/09/technology/ai-boom-unlike-dot-com-boom.html
Silicon Valley is again betting everything on a new technology. But the mania is not a reboot of the late-1990s frenzy. 

Is it a bubble?
https://www.ft.com/content/353eda37-33b0-4d30-a912-a07607e278b8
Given that the growth of demand for AI is so unpredictable, there can be no doubt investor behavior is speculative.

The Everyday Investors Hedging Against an AI Bubble
With the stock market hitting new highs, some are shielding themselves from a potential pullback.

Something Ominous Is Happening in the AI Economy
https://www.theatlantic.com/economy/2025/12/nvidia-ai-financing-deals/685197/
The last time so much wealth was tied up in such obscure overlapping arrangements was just before the 2008 financial crisis.

The Challenges of Emigration

How to Leave the U.S.A.
https://www.newyorker.com/magazine/2025/12/15/how-to-leave-the-usa
Every four years, a group of Americans threatens to emigrate. No mass exodus occurs. Moving is hard; moving countries is harder. But with the reelection of President Trump, more people seem to be acting on their desires. The Netherlands offers one way out.   

Global Trade (Excluding US)

World Trade Grows Without the U.S.
https://www.wsj.com/opinion/world-trade-grows-without-the-u-s-28c83f4c
Other nations are busy expanding commercial ties, as the U.S. economy is increasingly isolated. 

Replacing Influencers with AI

These Travel Influencers Don’t Want Freebies. They’re A.I.
https://www.nytimes.com/2025/12/09/travel/ai-influencers.html
Social media posts by A.I.-created travel avatars cost far less to produce, yet look and sound real. Human influencers worry they’re being elbowed out. 

Monday, December 8, 2025

The Psyche of the American Consumer

The Year of America’s Cranky Consumer
https://www.wsj.com/economy/consumers/the-year-of-americas-cranky-consumer-39ba0b2d
Sentiment has neared record lows, even as spending is continuing. 

China's Trade Surplus

Don’t fear China’s trillion-dollar trade surplus
https://www.economist.com/leaders/2025/12/11/dont-fear-chinas-trillion-dollar-trade-surplus
It is a problem not for the rest of the world, but for China.
 
The meaning of China’s record-high trade surplus
https://www.economist.com/china/2025/12/10/the-meaning-of-chinas-record-high-trade-surplus
The country is too complacent about its export dependence.


China’s Growth Is Coming at the Rest of the World’s Expense
https://www.wsj.com/economy/trade/chinas-growth-is-coming-at-the-rest-of-the-worlds-expense-99420396
China is swallowing up a growing share of the world’s market for manufactured goods, revealing an uncomfortable truth.

China’s Trade Surplus Tops $1 Trillion, Underscoring Its Export Dominance
https://www.wsj.com/economy/trade/chinas-exports-rebound-in-november-97f24e06
The milestone comes as China adds high-end manufacturing strength to its established dominance in lower-end goods.

China’s Manufacturing Is Booming Despite Trump’s Tariffs
https://www.wsj.com/world/china/chinas-manufacturing-is-booming-despite-trumps-tariffs-911fbcbe
U.S. pressure has only cemented its rival’s status as the world’s indispensable factory floor, sending its trade surplus above $1 trillion.
 
Why the Push for a Stronger Yuan Won’t Go Away
https://www.bloomberg.com/opinion/articles/2025-12-08/why-the-push-for-a-stronger-yuan-won-t-go-away

 
Related: https://www.nytimes.com/2025/12/07/business/china-rmb-currency.html 

Welfare Fraud in America

Why Is Autism Exploding? Welfare Fraud Is One Reason
https://www.wsj.com/opinion/why-is-autism-exploding-welfare-fraud-is-one-reason-ee7d04ec
Minnesota’s example shows that lucrative behavioral therapy is a magnet for scam artists.
 
Why mass immigration and generous welfare states don’t mix
https://www.telegraph.co.uk/news/2025/12/06/why-mass-immigration-and-generous-welfare-states-dont-mix/
An extraordinary explosion in fraud in the state of Minnesota reveals the problems of failing to grasp that integration goes two ways. 

AI and the Chip Depreciation Debate

The Accounting Uproar Over How Fast an AI Chip Depreciates
https://www.wsj.com/finance/investing/the-accounting-uproar-over-how-fast-an-ai-chip-depreciates-6f59785b
Precise answers are elusive for how quickly a company’s AI equipment falls in value. 

Sunday, December 7, 2025

Profile of Sendhil Mullainathan

Bob Simison profiles MIT behavioral economist Sendhil Mullainathan, who is leading his discipline into the age of algorithms.

Fiscal Policy Debate in UK

Labour ignites battle over benefits Britain
https://www.telegraph.co.uk/business/2025/12/07/labour-ignites-battle-over-benefits-britain/
 
The Budget fiasco shows the Treasury is now fundamentally broken
https://www.telegraph.co.uk/business/2025/12/06/budget-fiasco-shows-treasury-is-now-fundamentally-broken/
The body governing Britain’s finances has lost its way and is in need of a shake-up.
 
The Green Party leader’s recent arguments sound a lot like Modern Monetary Theory
https://www.newstatesman.com/politics/greens/2025/12/the-case-for-zack-polanskis-economic-plan 

The Rise of Stablecoins

Your Money Could Soon Be Tied Up in This $300 Billion Crypto Market
https://www.nytimes.com/interactive/2025/12/07/business/what-are-stablecoins.html
You can use stablecoins, which are pegged to the dollar, to buy things online or send money abroad with minimal fees — and they are subject to very little legal oversight. 
 
Related:
https://www.nytimes.com/2025/12/07/technology/how-a-cryptocurrency-helps-criminals-launder-money-and-evade-sanctions.html 

Sentiment Shifts Again on US Equities

What Bubble? Asset Managers in Risk-On Mode Stick with Stocks
https://finance.yahoo.com/news/bubble-asset-managers-risk-mode-130000977.html/
 
Five Reasons Investors Are Feeling Good About Stocks Again
https://www.wsj.com/finance/investing/stock-market-2026-hope-d8fab52d
Recent gains reflect more than just optimism about artificial intelligence.

Why Nvidia and Other AI Stocks Have Lost Their ‘Quality’ Status
https://www.wsj.com/finance/investing/why-nvidia-and-other-ai-stocks-have-lost-their-quality-status-84180ff2
A popular ETF dropped Big Tech stocks, which gets at an important issue: Is the bet on AI a vast potential profit pool, or a money pit? 

Beyond the AI bubble, bargains can be found on the US stock market
https://www.telegraph.co.uk/business/2025/12/04/beyond-the-ai-bubble-bargains-can-found-on-us-stock-market/
Cheap shares lurk even in the most expensive exchange in the world.

Stock market history signals a reckoning for today’s AI spending surge
https://www.telegraph.co.uk/money/investing/stocks-shares/future-ai-understood-knowing-history-stock-markets/

Saturday, December 6, 2025

On Stupidity

Are We Getting Stupider?
https://www.newyorker.com/culture/open-questions/are-we-getting-stupider
Stupidity is eternal—and more complex than we think. 

Is AI Making Us Dumb?
https://www.wsj.com/opinion/is-ai-making-us-dumb-21ea8e39
No. The moral panic over technology is an excuse for a failing educational system.

Venezuela's Oil Reserves

Lots of Oil, Little Production: What to Know About Venezuelan Energy
https://www.nytimes.com/2025/12/05/business/energy-environment/venezuela-oil-trump.html
The South American country increasingly at odds with the Trump administration has the world’s largest oil reserves. 

Global Economics and Geopolitics

Mega is trumping Maga in stocks
https://www.ft.com/content/6a0859c0-91e1-4c3d-bd38-741a34ffe8da
European shares have had a breakout year, particularly for dollar-based investors.
 
China’s Growth Is Coming at the Rest of the World’s Expense
https://www.wsj.com/economy/trade/chinas-growth-is-coming-at-the-rest-of-the-worlds-expense-99420396
China is swallowing up a growing share of the world’s market for manufactured goods, revealing an uncomfortable truth.
 
India and the Gulf States Could Reshape Global Trade
https://www.project-syndicate.org/commentary/india-gulf-partnership-offers-alternative-development-model-for-emerging-economies-by-vivek-agarwal-1-and-alexander-george-1-2025-12
In an increasingly multipolar world, India and the Gulf states are no longer merely trading partners but strategic actors in their own right. Together, they are advancing a model of cooperation that values autonomy, transparency, and mutual gain over coercion and dependence on great powers. 
 
Britain’s bond vigilantes target Trump’s America
https://www.telegraph.co.uk/business/2025/12/06/britains-bond-vigilantes-target-trumps-america/
London’s surge up the charts shows it is now the world’s biggest hedge-fund hub. 

Friday, December 5, 2025

Shakespeare's Take

Tomorrow, and tomorrow, and tomorrow,
Creeps in this petty pace from day to day,
To the last syllable of recorded time;
And all our yesterdays have lighted fools
The way to dusty death. Out, out, brief candle!
Life's but a walking shadow, a poor player,
That struts and frets his hour upon the stage,
And then is heard no more. It is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.
 
                                    -    from William Shakespeare’s Macbeth

 

All the world’s a stage,
And all the men and women merely players;
They have their exits and their entrances;
And one man in his time plays many parts,
His acts being seven ages. At first the infant,
Mewling and puking in the nurse’s arms;
And then the whining school-boy, with his satchel
And shining morning face, creeping like snail
Unwillingly to school. And then the lover,
Sighing like furnace, with a woeful ballad
Made to his mistress’ eyebrow. Then a soldier,
Full of strange oaths, and bearded like the pard,
Jealous in honour, sudden and quick in quarrel,
Seeking the bubble reputation
Even in the cannon’s mouth. And then the justice,
In fair round belly with good capon lin’d,
With eyes severe and beard of formal cut,
Full of wise saws and modern instances;
And so he plays his part. The sixth age shifts
Into the lean and slipper’d pantaloon,
With spectacles on nose and pouch on side;
His youthful hose, well sav’d, a world too wide
For his shrunk shank; and his big manly voice,
Turning again toward childish treble, pipes
And whistles in his sound. Last scene of all,
That ends this strange eventful history,
Is second childishness and mere oblivion;
Sans teeth, sans eyes, sans taste, sans everything.


                                -    from William Shakespeare’s As You Like It

Catastrophe Bonds

How hurricanes became a hot investment
https://www.npr.org/2025/12/05/nx-s1-5622088/catastrophe-bonds-jamaica-hurricane-melissa
A few years ago, the Jamaican government started making an unusual financial bet. It went to investors around the world asking if they'd like to wager on the chances a major hurricane would hit the island in the next couple of years. 

Is the US Labor Market Improving?

Why worries about American job losses are overstated
https://www.economist.com/finance-and-economics/2025/11/30/why-worries-about-american-job-losses-are-overstated
Bosses, investors, policymakers—all are fearful of a jobs-pocalypse. 

Bubble Talk

Gold’s bubble behavior may signal paradigm shift
https://www.reuters.com/commentary/breakingviews/golds-bubble-behaviour-may-signal-paradigm-shift-2025-12-05/
 
AI Bubble: Don’t Fear the Bubble Bursting
https://www.nytimes.com/2025/12/05/opinion/ai-bubble-innovation-advancement.html
 
How to spot a bubble bursting
https://www.economist.com/finance-and-economics/2025/12/01/how-to-spot-a-bubble-bursting
Forget valuations. Look out for search-engine hits and fund managers getting fired. 

Building Chips in America

18,000 Reasons It’s So Hard to Build a Chip Factory in America
https://www.nytimes.com/2025/12/04/business/tsmc-phoenix-fab.html
The transformation of Phoenix into a semiconductor hub by Taiwan’s TSMC illustrates the difficulties of large-scale projects in the United States.
 
Related:
https://www.nytimes.com/2025/12/04/business/tsmc-arizona-workers-training.html 

China's Skewed Sex Ratio

How to Find a Date in a Country with Over 30 Million Extra Men
https://www.nytimes.com/2025/12/04/opinion/china-dating-men-one-child-policy.html 

Wednesday, December 3, 2025

Another Problem Facing American Higher Education

Accommodation Nation
https://www.theatlantic.com/magazine/2026/01/elite-university-student-accommodation/684946/
America’s colleges have an extra-time-on-tests problem. 

Banking Deregulation

U.K. Loosens Bank Capital Demands for First Time Since Financial Crisis
https://www.wsj.com/finance/banking/u-k-loosens-bank-capital-demands-for-first-time-since-financial-crisis-7aa214b5
British banks will no longer need to hold so much capital, as the U.K. joins the U.S. in unwinding some measures put in place after the global financial crisis. 

Related:
Regulators Relax Rules on High-Risk Lending for Banks
https://www.wsj.com/finance/banking/regulators-relax-rules-on-high-risk-lending-for-banks-9eec9ffa
FDIC and OCC end the Obama-era guidance limiting risk-taking, which spurred the private credit boom.

China's Rise on the Geopolitical Stage

A Newly Confident China Is Jockeying for More Global Clout as Trump Pulls Back
https://www.wsj.com/world/china/a-newly-confident-china-is-jockeying-for-more-global-clout-as-trump-pulls-back-5cc3be4e
Feeling empowered after a clash over trade, Beijing looks to exploit America’s inward turn.
 
Russia strengthens financial ties to China with first renminbi bond
https://www.ft.com/content/92b1b3f2-055c-42fb-b2da-ee774873ae7b 

Tuesday, December 2, 2025

Green Energy Trade-Offs

Europe’s Green Energy Rush Slashed Emissions—and Crippled the Economy
https://www.wsj.com/business/energy-oil/europes-green-energy-rush-slashed-emissionsand-crippled-the-economy-e65a1a07
The aggressive push to cut fossil fuels brought an unwelcome twist: dramatically higher electricity costs that are hobbling industry. 

Related:
Top Journal Retracts Study Predicting Catastrophic Climate Toll

Emerging Asia

Vietnam Ascendant | The Infinite Explorer with Hannah Fry
https://youtu.be/sSlqqsz_16I
 
How South Korea Made Its Mark on the Globe | The Infinite Explorer with Hannah Fry
https://youtu.be/8g6Y-dQ556A 

Monday, December 1, 2025

Majoring in AI

College Students Flock to a New Major: A.I.
https://www.nytimes.com/2025/12/01/technology/college-computer-science-ai-boom.html
At M.I.T., a new program called “artificial intelligence and decision-making” is now the second-most-popular undergraduate major. 

Related:

The AGI Hype

How AGI became the most consequential conspiracy theory of our time
https://www.technologyreview.com/2025/10/30/1127057/agi-conspiracy-theory-artifcial-general-intelligence/
The idea that machines will be as smart as—or smarter than—humans has hijacked an entire industry. But look closely and you’ll see it’s a myth that persists for many of the same reasons conspiracies do. 

US Economy: AI Boom versus Tariff Shock

America’s Tariffs Jolted the Global Economy. Its AI Spending Is Helping Save It.
https://www.wsj.com/economy/trade/americas-tariffs-jolted-the-global-economy-its-ai-spending-is-helping-save-it-9be60ee0
Economists predicted a global shock from Trump’s tariffs, but some are now revising their global growth predictions upward. 

Related:
The Inequality Story Isn’t What You’ve Heard. Meet the Pac-Man Economy.
https://www.barrons.com/articles/the-inequality-story-isnt-what-youve-heard-meet-the-pac-man-economy-729b794b

RTO versus WFH

Young Workers, Eyeing Their Careers, Learn to Embrace the Office
https://www.nytimes.com/2025/12/01/business/young-workers-office.html
Remote work means less training and opportunity for advancement, especially for younger workers, research suggests. Some are getting the message.