CAMBRIDGE – In case you blinked, the Argentine government built up a pile of debt out of almost nothing with surprising speed, and then proceeded to default on it almost as quickly. Compared to the country’s slow-motion 2002 default, the latest crisis feels like 60-second Shakespeare. But in both cases, default was inevitable, because the country’s mix of debt, deficits, and monetary policy was unsustainable, and the political class was unable to make the necessary adjustments in time
As Google’s latest line of hardware products promise to more seamlessly be a part of users’ lives, the data-driven giant wants to earn trust for the brand even as it collects increasingly more, and more personal, information
NEW YORK – The late Alan Clark, a British politician of the Margaret Thatcher era, chiefly known for his womanizing and his hard-right views, once lamented to me the decline of the British fighting spirit that built empires and won wars. Half in jest, I suggested that this aggressive disposition was still there among British soccer hooligans who ransack stadiums and foreign towns. He replied with a dreamy look in his eyes that this was indeed something that “might be usefully tapped.”
NEW DELHI – In the natural world, humans stand out for the complexity of the tools, technologies, and institutions that we have developed. According to the anthropologist Joseph Henrich, we owe this success to our ability to accumulate, share, and adapt cultural information across generations. But just as interconnection causes our “collective brains” to expand over time, isolation can cause them to shrink. Economists should take note