Economics

In many countries, diversified business groups substitute for the institutions that support effective markets in capital, labor, and goods and services. Their capacity for doing this must be strengthened through restructuring, not destroyed through dismantling.

The story of how one organization envisioned a future transformed.

Companies in developing countries are often so focused on chasing growth that they fail to invest in improving their innovation, operations, and brand...

In the middle of an economic and jobs crisis, why should any politician or executive focus on a "soft" issue like work-life policy? Most are thinking...

AT&T’s recently announced acquisition of T-Mobile will invite hellfire from telecom regulators who fantasize over a different market structure, in which 17 mom-and-pop carriers serve the masses with tender love and care. As an economist, and as a customer of AT&T (with my mom, wife, and oldest daughter on my account), I am not so […]

Republicans get more conservative, Democrats get more liberal.

A new paper raises questions about competition and industry concentration.

Is the diversity created by mass migration a good thing for economic growth? To find out, a pair of researchers mobilized a large-scale dataset on international...

Is America headed for a lost decade? And is that why I relentlessly propose that the days of industrial age business as usual are numbered? Yes — and no. In this short video post, here’s what I advance: America just had a lost decade (I’ve also compiled four troubling charts, available here, that lend credence […]

During boom times, deal-making is relatively easy. A rising tide lifts all boats … and the knowledge that there are lots of opportunities out there makes some negotiators forget that the deal is a way to get value, not an end in itself. You don’t have to look as far back as the excesses of […]

Research reveals how activist investors help and hurt.

Given that we haven't figured out how to avoid business cycles, we're going to have a recession eventually. And given what's happening in the housing...

Trade, capital, and information flows have stabilized, recovered, and even grown in the past year.

How to defend and expand its advanced industries.

It's clear that the Democrats and Republicans will go up to - and probably past - the deadline in their negotiations about a new debt limit. This is a...

Today, The Washington Post debuts a new Web-based discussion series called “On Leadership,” and I am pleased to be part of a panel of thinkers who will weigh in every Tuesday on a timely question or challenge. This morning’s question: What should Detroit’s CEOs have done differently to make their case in Washington about a […]

It's about knowing how to reallocate - and deallocate - resources.

Crucial (and cost-free) ways policymakers can support scale-up entrepreneurs.

The recent hearings on Apple’s tax practices raises significant questions about who pays what and why.

Following up on his pledge to provide greater support for manufacturing in his State of the Union address, President Obama has announced a proposal to cut the effective tax rate for manufacturers to 25%. A number of economists howled against this so-called “industrial policy” and criticized the president’s singling out manufacturing for “special treatment” — […]