Tax policy can change the size of the economy and American incomes by changing whether (and how much) people work and invest in the US. People respond to incentives on the margin when making decisions to work or invest. As the after-tax returns to additional work or investment fall, people work and invest less. Investment…
Amazon (AMZN -0.94%) and Microsoft (MSFT -0.30%) are two of the biggest names in artificial intelligence (AI). Both of these companies have taken a similar path, choosing to integrate AI into their own products but utilize other providers’ models instead of creating their own. They each also have a thriving cloud computing business, benefiting from…
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Human Development
Aug 5, 2026
Nancy Qian
Wars, epidemics, displacement, and geopolitical competition will ensure that rich countries continue to spend money abroad, whether for humanitarian reasons or in pursuit of their own interests. The only question is what sort…
So the UK is set to have its 7th Prime Minister in ten years. In this time, it is no co-incidence we have seen a continued stagnation in living standards. At the root of the problem is a decline in productivity growth; the years of growth are over. Every prime minister had a plan for…
A steep NAV drop and a federal probe trigger a high-level departure at BlackRock. The private credit market’s roughest stretch in years has claimed its first senior leader at a major asset manager. BlackRock’s Phil Tseng is in the process of leaving his post as CEO of the firm’s publicly traded business development company, according…