Sunday, July 4, 2021

Macroprudential Policy - Fed versus PBOC

What the Fed can learn from the People's Bank of China
Beijing is returning to monetary sobriety faster than Washington
https://asia.nikkei.com/Opinion/What-the-Fed-can-learn-from-the-People-s-Bank-of-China 

India - Updates

Political Science - Theory versus Reality

Political Science Has Its Own Lab Leaks
When ideas get out from academia into the wild, they can be surprisingly dangerous.
https://foreignpolicy.com/2021/07/03/political-science-dangerous-lab-leaks/
Paul Musgrave notes:
Theories are only as sound as their assumptions. The Cold War was never as stable or simple as Schelling advertised. Far from the world of perfect knowledge and well-calibrated risk that Schelling envisioned, errors and misperceptions abounded, not least during the Cuban missile crisis, which was even more dangerous than it appeared at the time. Organizations in charge of nuclear weapons suffered numerous near-catastrophic accidents, and the U.S. government even underestimated the potential effects of a nuclear war. Even in Schelling’s war games, policymakers proved far more reluctant to escalate tensions than his theories suggested they should have been.

Pandemic's Lasting Impact on the Labor Market

Pandemic Wave of Automation May Be Bad News for Workers
https://www.nytimes.com/2021/07/03/business/economy/automation-workers-robots-pandemic.html
 
Robots were supposed to take our jobs. Instead, they’re making them worse.
https://www.vox.com/the-goods/22557895/automation-robots-work-amazon-uber-lyft
 
Alexander Hamilton and Post-Covid America
https://www.nytimes.com/2021/07/02/opinion/work-jobs-employment.html 

Will the labor market’s Great Reset change things for workers over the long term?
https://www.washingtonpost.com/opinions/2021/07/11/will-labor-markets-great-reset-change-things-workers-over-long-term/