Economics & Politics

Getting richer but not happier: it’s a familiar story, for people and for nations. The purpose of the World Happiness Report, now in its third edition for 2015, is to remind governments, civil society, and individuals that income alone cannot secure our wellbeing. True happiness depends on social capital, not just financial capital. The evidence [...]

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NEW YORK – ExxonMobil’s current business strategy is a danger to its shareholders and the world. We were reminded of this once again in a report of the National Petroleum Council’s Arctic Committee, chaired by ExxonMobil CEO Rex Tillerson. The report calls on the US government to proceed with Arctic drilling for oil and gas [...]

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Do robots raise or lower economic well-being? On the one hand, they raise output and bring more goods and services into reach. On the other hand, they eliminate jobs, shift investments away from machines that complement labor, lower wages, and immiserize workers who cannot compete. The net effect of these offsetting forces is unclear. This [...]

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NEW YORK – It is truly odd to read Paul Krugman rail, time and again, against the British government. His latest screed begins with the claim that “Britain’s economic performance since the financial crisis struck has been startlingly bad.” He excoriates Prime Minister David Cameron’s government for its “poor economic record,” and wonders how he [...]

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Speech at Columbia University March 30, 2015 I’m grateful for the opportunity to speak today on the question “What is a Moral University in the 21st Century?”  I want to thank Dr. Robert Klitzman, Professor of Psychiatry and Director of the Masters of Bioethics Program at the Columbia University Medical Center, for taking the initiative [...]

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February 19th, 2015

Greece needs time to negotiate

While the Greek crisis continues to rage, the eurogroup — the eurozone’s finance ministers — spent the past week quibbling over details in Brussels while the world waited breathlessly to know if the eurozone is going to derail the global recovery. The way forward is obvious. The world will not forgive the eurozone, led by [...]

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America is the land of breakthrough science — and health care scams. The two seem to go hand in hand in the case of the new hepatitis C virus (HCV) cure named sofosbuvir, sold under the brand name Solvadi by the drug company Gilead Sciences. There is no question that Solvadi is a godsend — [...]

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NEW YORK – Financial markets serve two crucial purposes: to channel savings toward productive investments, and to enable individuals and businesses to manage risks through diversification and insurance. As a result, the sector is essential to sustainable development, which represents unprecedented global-scale investment opportunities and risk-management challenges. That is why, when world leaders meet this [...]

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Members of the Congressional Progressive Caucus and Fellow Citizens, The true State of the Union, and the state of the world, in 2015 can be described in one word: precarious.  Despite our wealth, our technological knowhow, our global social media, we are a world at war with each other and with the planet itself.  At [...]

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