Tag Archives: Essays

Economics, Essays

Economics: ‘Productivity Is Everything’ (Essay)

FOREIGN AFFAIRS MAGAZINE (February 25, 2025):

For the United States, these are trying times. Americans are overcome with an unshakable sense of economic malaise. The top-line indicators are good: unemployment is low, inflation is declining, and the country remains the richest in the world. Yet in poll after poll, most Americans say they are unhappy with the state of the economy today and its prospects for tomorrow. Only a quarter consider the economy good or excellent. Nearly 80 percent say they are not confident that their children will live better than they do.

In the mid-1970s, U.S. productivity growth collapsed.

Analysts have spent years discussing the country’s particular challenges. They have talked about its aging population, which is widening federal budget deficits as entitlement spending collides with an antipathy to tax increases. They have looked at the growing threat of climate change, which requires an overhaul of the U.S. energy sector. They have noted the widening wealth and income gaps in our changing economy. And they have fretted over foreign autocrats who are menacing U.S. security.

Innovation has driven most of the United States’ productivity growth.

But the public debate too often overlooks a common factor behind all these challenges, one that will shape whether the United States can address them: labor productivity. Commonly measured as the amount of goods and services generated per worker, productivity is the central determinant of a nation’s average standard of living and its overall economic success. Growth over time in productivity is why Americans today can consume more goods and services than their grandparents—even as they work fewer hours. Productivity growth fuels rising wages and profits, which generates more fiscal revenue, allowing Washington to build formidable defense capabilities. And productivity growth bolsters the country’s soft power, demonstrating the strengths of a democratic, market-oriented society.

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MATTHEW J. SLAUGHTER is Paul Danos Dean and Earl C. Daum 1924 Professor of International Business at the Tuck School of Business at Dartmouth College. From 2005 to 2007, he served on the White House Council of Economic Advisers.

DAVID WESSEL is Senior Fellow in Economic Studies at the Brookings Institution and director of its Hutchins Center on Fiscal and Monetary Policy.

Essays, History, Politics

Politics & History: ‘The Gilded Age Never Ended’

THE NEW YORKER MAGAZINE (February 24, 2025):

When, in the nineteen-nineties, people decided that we were living in a new Gilded Age, the meaning was plain. The term, borrowed from the 1873 Mark Twain novel of the same name—a mediocre book by a great writer with a memorable title, like Anthony Trollope’s “The Way We Live Now”—indicated an efflorescence of wealth and display, of overabundance and nouveau-riche excess. It referred mostly to the Veblenian side of American life: status competition through showy objects, from the cloud-level duplexes of the New York skyline to the Met Gala. Perhaps not enough attention was paid to the original concept, which implied a contrast between the truly golden and the merely gilded.

Hierarchies of power are intrinsic to human societies, no doubt, and sometimes the best we can hope for is that those on top become devoted to a higher ideal of education or common welfare or simple beauty.

What we didn’t anticipate was that our new Gilded Age would become even more like its precursor—not only in the seeming concentration of overwhelming wealth into fewer and fewer hands but in the gravitation toward a plutocracy. In the industrial age, the totemic figures were Frick and Morgan and Rockefeller; in our post-industrial era, they are Bezos and Musk and Zuckerberg. During that first Gilded Age—if we imagine it running from the eighteen-seventies to 1910—a counter cast of characters had a glamorous appeal of their own. These were the anarchists, whose isolated but highly publicized acts of individual retaliation were intended as inspirational melodramatic theatre rather than as actual revolutionary politics. In these years, anarchists claimed the lives of a French President, an American President, an Italian king, and a Russian tsar, and threw bombs at several American tycoons. Whether or not Luigi Mangione’s recent alleged murder of a helpless insurance executive on a cold New York morning belongs to this tradition, its affect and effect certainly evoke the past, with the curly-haired Ivy-educated youth conferring, in the realm of social media, an improbable aura of martyrdom and purpose on what otherwise would have seemed a sordid act.

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Culture, Essays

‘The Commitment To Collaborate’ (Essay)

AEON (February 22, 2025): Every week at the office, you and your fellow employees have meetings to discuss progress on group projects and to divide tasks efficiently. Perhaps in the evening, you go home and cook dinner with your partner. At least once in your life, you might have seen a team of firefighters work together to extinguish a fire at a burning house and rescue those inside. You have probably also witnessed or participated in political demonstrations aimed at bettering the treatment of those in need. These are all examples of human cooperation toward a mutually beneficial end. Some of them seem so commonplace that we rarely think of them as anything special. Yet they are. It is not obvious that any of the other great ape species cooperate in such a way – spontaneously and with individuals they have never before met. Though there has been some evidence of cooperation in other great apes, the interpretation of studies on ape cooperation has also been contested. In the human case, cooperation is unequivocal.

One crafts a spear head, the other crafts a shaft. To do so, they need some means of communicating

The evolution of cooperation has been of interest to biologists, philosophers and anthropologists for centuries. If natural selection favours self-interest, why would we cooperate at an apparent cost to ourselves? You might say that none of these examples is costly; they all benefit the person cooperating as well as the recipient of the cooperation. This is true, but there is still a puzzle to solve. If I can reduce the cost of cooperating by deception – pretending to pull my weight in the group project or in the rescue mission – and still reap the benefits, why would I not do so? This is known as the ‘free-rider’ problem.

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Saira Khan is a research associate in the Department of Philosophy at the University of Bristol in the UK, working on Samir Okasha’s Representing Evolution project.

Essays, Humanities, Mathematics, Science

Mathematics Essay: ‘Beyond Causality’

AEON (February 14, 2025): In 1959, the English writer and physicist C P Snow delivered the esteemed Rede Lecture at the University of Cambridge. Regaled with champagne and Marmite sandwiches, the audience had no idea that they were about to be read the riot act. Snow diagnosed a rift of mutual ignorance in the intellectual world of the West. On the one hand were the ‘literary intellectuals’ (of the humanities) and on the other the (natural) ‘scientists’: the much-discussed ‘two cultures’.

Mind and world are no separate spheres that must first be connected. Rather, both depend on each other

Snow substantiated his diagnosis with anecdotes of respected literary intellectuals who complained about the illiteracy of the scientists but who themselves had never heard of such a fundamental statement as the second law of thermodynamics. And he told of brilliant scientific minds who might know a lot about the second law but were barely up to the task of reading Charles Dickens, let alone an ‘esoteric, tangled and dubiously rewarding writer … like Rainer Maria Rilke.’

Mathematics mediates a conciliatory view that avoids the mistake of the naive realist and the naive idealist…

Ludwig Wittgenstein once said: ‘I want to show the colourfulness of mathematics.’ In that spirit, I placed mathematics at the centre of my project because, in my view, mathematics searches along more of these many paths than any other intellectual discipline. It is connected on a deep level both with the natural sciences and the humanities. It bridges the gulf between them, and it does so by putting certain metaphysical and epistemological dogmas into question, as will become clear in the following.

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Gordon Gillespie is an actuary, quantitative risk manager and data scientist. He has a doctorate in philosophy and is the author of the German-language book The Oracle of Numbers: A Short Philosophy of Mathematics (2023). He lives in Rüdesheim, Germany.

Arts & Literature, Humanities, Reviews

Humanities & Literature: ‘Fooled By Language’

FRONTLINE (February 12, 2025): In his incisive 1946 essay “Politics and the English Language”, George Orwell performs a brilliant autopsy on the art and craft of writing and communication. He focusses on how and what language manifests—or rather, fails to manifest—in political discourse. The master satirist, never one to mince words (though he’d be the first to appreciate the irony of that cliché), dissects the tendency of political language to change straightforward ideas into bloated, pretentious prose that obscures rather than enlightens.

Towards the end of this long essay lies a powerful statement: “Political language is designed to make lies sound truthful and murder respectable”. Clearly, Orwell was talking about how politicians and other public figures twist words to hide ugly truths. When leaders want to justify terrible or unpleasant actions, they turn to a vague, fancy vocabulary. Instead of saying “we killed civilians”, they might say, “collateral damage occurred during military operations”. This kind of cloudy language makes it harder for people to understand what really happened or will happen.

Language shapes perception. It defines how we see the world and the forces that power it. In an ideal scenario, words like “development”, “reform”, and “progress” should inspire optimism, suggesting a march towards a better future. But in practice, these terms become euphemisms for destruction. Beneath their hopeful facades, they have hidden environmental devastation, the displacement of indigenous communities, and the widening gap between the rich and the poor. If we strip away their idealistic veneer, we uncover a history of exploitation and loss—one that continues to this day.

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Essays, History, Law

History & Law: ‘Beyond Logic And Freedom – The Dred Scott Decision’

The Imaginative Conservative (February 13, 2025): With his bold pronouncement in the Dred Scott decision that Congress had no jurisdiction over the territories, Chief Justice Roger B. Taney hoped to preempt all political discussion and debate. But he was sadly disappointed, for his majority opinion itself became the focus of a new, and ever more vicious, round of political battles as the presidential election of 1860 approached.

I. The Historical Background

On March 6, 1857, two days after James Buchanan took the oath of office as president of the United States, the Supreme court announced its decision in the case of Dred Scott v. John F.A. San[d]ford.[i]The case was complex and the decision long in coming. In 1834, an army surgeon named John Emerson reported for duty at Rock Island, Illinois.With him was Dred Scott, a slave whom he had recently purchased in St. Louis. Emerson kept Scott with him at Fort Armstrong for two years, despite an Illinois state law forbidding slavery. In 1836, the army posted Dr. Emerson to Fort Snelling, located in the northern part of the Louisiana Purchase, in what was then Wisconsin territory and which subsequently became the state of Minnesota. As before, he took his slave Dred Scott with him, although the Missouri Compromise explicitly prohibited slavery north of latitude 36° 30’. While stationed at Fort Snelling, Emerson bought a slave woman named Harriet, who eventually married Dred Scott, although the law did not sanction slave marriages. After several years, the army again transferred Emerson, whose slaves returned with him to Missouri.[ii]

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III. Consequences & Significance

Not since Marbury v. Madison in 1803 had the Supreme Court employed the principle of judicial review to overturn congressional legislation. The court’s ruling that neither Congress nor the territorial governments could ban slavery, in effect, renounced both the Missouri Compromise and popular sovereignty. Taney had made it clear to Republicans that even should they win control of the national government they could not execute their pledge to keep the territories free of slavery. Slavery could only be proscribed after a territory became a state. By then it might be too well entrenched to remove. It appeared both to the opponents of slavery and to the advocates of free soil that Taney and a majority of the Supreme Court were parties to a vast conspiracy among slaveholders to take over the government.

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Arts & Literature, Essays

Essays: ‘Wollstonecraft – A Daring Experiment’


TIMES LITERARY SUPPLEMENT (February 13, 2025): After her husband drowned off the coast of Tuscany, Mary Shelley relayed an unusual request to her stepmother in London. Would she send a “remembrance” of her mother, the revolutionary-era philosopher of women’s rights, Mary Wollstonecraft, who had died shortly after Shelley’s birth? In response, Mary Shelley’s father put aside one of her mother’s rings, crafted from pearls and a lock of hair taken from Wollstonecraft’s closest female friend, Fanny Blood: a gothic symbol of eternal love. 

Like the bejewelled ring with Fanny’s hair, Wollstonecraft and her first love lived on – thanks to the retelling of their life stories by other philosophers and writers. As a kind of female Socrates, Wollstonecraft sketched the contours of a new form of philosophy, undertaken not necessarily by writing, but also and more fundamentally by living and experimenting. An author of autobiographical novels and epistolary memoirs, Wollstonecraft used personal narratives to ground her defence of the rights of the poor, women, children, African slaves and Native Americans as integral to the “rights of humanity”. Later thinkers, especially in the feminist tradition, have attempted to flesh out this story of human emancipation left incomplete by her untimely death at the age of thirty-eight.

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Essays, Foreign Affairs, Politics

Foreign Affairs Essay: ‘The Post-Neoliberal Delusion’

FOREIGN AFFAIRS MAGAZINE (February 10, 2025): Although there are many explanations for Donald Trump’s victory in the 2024 U.S. presidential election, voters’ views of the U.S. economy may have been decisive. In polling shortly before the election, more than 60 percent of voters in swing states agreed with the idea that the economy was on the wrong track, and even higher numbers registered concern about the cost of living. In exit polls, 75 percent of voters agreed that inflation was a “hardship.”

These views may seem surprising given various economic indicators at the time of the election. After all, unemployment was low, inflation had come down, GDP growth was strong, and wages were rising faster than prices. But these figures largely missed the lasting effects that dramatic price increases had on many Americans, which made it harder for them to pay for groceries, pay off credit cards, and buy homes. Not entirely unreasonably, they blamed that squarely on the Biden administration.

Biden arrived in office in 2021 with what he understood as an economic mandate to “Build Back Better.” The United States had not yet fully reopened after nearly a year of restrictions necessitated by the COVID-19 pandemic, which had suppressed activity in the service sector. Biden set out to restructure the country’s post-pandemic economy based on a muscular new approach to governing. Since the 1990s, Democratic economic policy had largely been shaped by a technocratic approach, derided by its critics as “neoliberalism,” that included respect for markets, enthusiasm for trade liberalization and expanded social welfare protections, and an aversion to industrial policy. By contrast, the Biden team expressed much more ambition: to spend more, to do more to reshape particular industries, and to rely less on market mechanisms to deal with problems such as climate change. Thus, the administration set out to bring back vigorous government involvement across the economy, including in such areas as public investment, antitrust enforcement, and worker protections; revive large-scale industrial policy; and support enormous injections of direct economic stimulus, even if it entailed unprecedented deficits. The administration eventually came to dub this approach “Bidenomics.”

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JASON FURMAN is Aetna Professor of the Practice of Economic Policy at Harvard University. He was Chair of the White House Council of Economic Advisers from 2013 to 2017.

Addictions, Behavior, Essays, Opinion

Opinion Essay: ‘The Price We Pay Betting On Sports’

THE NEW YORK TIMES (February 9, 2025); By Carl Erik Fisher

When we think about any addiction, we tend to focus on people who are utterly consumed by it — those whose lives are visibly falling apart. Yet gambling challenges our usual assumptions about addiction and risk, as its harms extend far beyond the most severe cases.

Consider a young man from my therapy practice, a former college athlete, who isn’t bankrupt or in crisis but feels stuck in a cycle of unhealthy online sports betting. He repeatedly deletes the betting app from his phone, only to reinstall it days later at the prompting of a well-timed email, a group bet with friends or simply the ads plastered across every sports arena. He does fine at work and mostly keeps to the dollar limits he sets, but his internal preoccupation, restlessness and chasing of losses just feel bad. He wouldn’t call himself addicted, but he doesn’t feel healthy, either. At the very least, he has the creeping sense that he’d feel better if he put his attention and energy toward something more meaningful.

Serious gambling addiction is devastating. Beyond financial ruin, it increases the risk of physical health problems, domestic violence and family rupture. Every year, 2.5 million American adults suffer from severe gambling problems. Many suffer invisibly, silently wagering away their lives on cellphones, perhaps in the very same room as their family and friends.

These severe cases demand attention, but focusing only on them obscures something important. As a physician and someone in recovery from alcohol and stimulant addiction myself, I’m concerned by how we have been conditioned to see addiction in all-or-nothing terms. Beyond the millions of Americans who meet the criteria for gambling disorder, five million to eight million more have a mild to moderate gambling problem that still affects their lives — like my patient. Since the federal ban on sports betting was struck down in 2018, sports gambling in the United States has exploded, with annual wagers now approaching $150 billion.

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Dr. Fisher is an addiction physician and bioethicist at Columbia University. He’s the author of “The Urge: Our History of Addiction.”

Culture, Essays, Opinion, Social Media

‘Americans Are Trapped In An Algorithmic Cage’

THE ATLANTIC MAGAZINE (February 7, 2025): Shortly before President George W. Bush was reelected, in 2004, an anonymous Bush-administration source told The New York Times, “We’re an empire now, and when we act, we create our own reality.” Those in what the adviser called “the reality-based community” would be left “studying that reality—judiciously, as you will.” Then “we’ll act again, creating other new realities, which you can study too, and that’s how things will sort out.”

The private companies in control of social-media networks possess an unprecedented ability to manipulate and control the populace.

Arrogant as this declaration was, I now wonder whether it was merely premature. Although Bush won the 2004 election, reality came crashing down rather rapidly—Bush’s agenda failed in Congress, the American people came to view the war in Iraq as needless folly, Republicans lost control of Congress in 2006, and the economy tumbled into the Great Recession in 2008, after which Democrats recaptured control of the White House.

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