As politicians encroach on areas that require technical knowledge, the risk of costly policy mistakes increases. The failures of Narendra Modi and Donald Trump show that when it comes to economic policymaking, political acumen is no substitute for a deep understanding of incentives, markets, and institutions. NEW DELHI—During the seven years I served as chief…
Gompers received research support from the HBS Division of Research. Hu gratefully acknowledges research support from the Molly & Domenic Ferrante Economics Research Fund and the John M. Olin Center for Law, Economics, and Business. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau…
Mortgage rates could drop a little over the next few days, as central bankers at the Federal Reserve ultimately decided to hold overnight borrowing rates steady at their meeting ending July 29. Mortgage rates jumped in the days leading up to the meeting, as speculation grew among futures traders that central bankers could vote to…
Brown & Brown anticipates that the cost of the Howden-driven talent war for the full-year 2026 could hit $60 million – an increase from the $31 million it estimated last quarter. “Based on currently available information, we anticipate the full-year 2026 revenue impact, related to new and lost business as well as incentives, to be…
Democrats on the Senate Finance Committee plan to introduce an amendment prohibiting President Trump’s audit immunity deal with the Internal Revenue Service during a markup of a sprawling bipartisan tax administration bill that is scheduled for Thursday, injecting a partisan provision that is not likely to be approved by Republican lawmakers. Processing Content The top…
Oil prices surged and the stock market’s “fear gauge” spiked as the war between the U.S. and Iran escalated again on Wednesday. Violence in the Middle East continues to impede traffic through the Strait of Hormuz, while even exponential growth for AI-related companies is letting down investors, traders and speculators. “We’ll be hitting them hard,”…
Reality bites on ‘energy transition’ in Canada and beyond beng Tue, 07/28/2026 – 09:32 EST. READ TIME 3 MIN. For about 50 years now, beginning with the environmental movement of the 1970s, with concerns about global warming, “peak oil” and Al Gore’s Earth in the Balance, many have mused about an “energy transition” to change…
LightField Studios / Shutterstock.com A no-regret retirement is one of life’s biggest decisions. It’s a major transition — not unlike choosing a career, a partner, or where to put down roots — and it deserves the same level of thought and care. The difference is that retirement isn’t a single choice. It’s a series of…
The Federal Reserve left its key interest rate unchanged Wednesday despite persistently high inflation caused by the Iran war and a spike in energy prices. The Fed’s rate-setting committee reached the 9-3 decision after two days of deliberations, marking the fifth straight meeting at which it kept its benchmark rate at around 3.6%. Dissenting from…
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