For the first time, the World Economic Forum (WEF) has ranked an environmental risk -- climate change -- as the most severe economic risk facing the world. Global Risks Report 2016 says climate change is compounding and intensifying other social, economic, and humanitarian stresses such as mass migration.
Growth has lifted humanity from the caves to the cities and given us civilization. Yet today it is scapegoated by its critics for causing many societal ills. Growth's critics rightfully sound the alarm on environmental and social problems. But their criticism of growth misses the real issues of poor policy and misguided public values.
Republican politicians bill themselves as pro-business, pro-growth, and pro-opportunity. Yet the financial facts say otherwise. Republican administrations bring hard times, for rich and poor alike. Why are their results so different from their aims? Perhaps Democrats are better at motivating workers.
Try to think of a policy idea that has the following characteristics: it costs almost nothing to implement; it has the potential to help millions of highly disadvantaged people raise their living standards; it is supported by both President Obama and the Koch brothers. You're envisioning the null set, right?
Even former Fed Chair Ben Bernanke has been irked by right wing conservatives for doing just the thing that most conservative economists, such as Martin Feldstein, and even arch-free market theorist Milton Friedman, said was the right thing to do during recessions--inject more money into the economy.