The BRICS countries—Brazil, Russia, India, China, and South Africa—play a crucial and growing role in the world economy. Sanjay Reddy kicks off our series exploring shifting social and economic dynamics within these countries, and what they mean for the global economy.
Fifty years after the assassination of Rev. Dr. Martin Luther King Jr., INET looks back at his forgotten economic legacy. In the final years of his life, these provocative positions made King controversial, and they remain as urgent now as they were then.
The economist reflects back on the racial justice leader who showed him the limits of his academic training.
In Silicon Valley one often hears discussion about the “AI Steering Problem”: While we can program our artificial intelligence with desired skills and abilities, how do we program it with the right motivation? As AI develops rapidly and innovation increasingly changes the nature of the world we live in, there is another problem we increasingly need to address: How do we steer markets in the face of a rapidly changing economy?
As early as 1900, German sociologist Georg Simmel identified a central feature of wealth in his seminal work The Philosophy of Money. Simmel writes about the superadditum of wealth for the rich, namely that a great fortune is encircled by innumerable possibilities of use, as though by an astral body.