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By permitting business definitions of “efficiency” to leak over into the antitrust lexicon, antitrust scholars have done a great disservice

But the five countries must still support greater investment in other emerging and developing economies

In Friday’s FT, former Morgan Stanley trader Douglas Keenan traces banks’ LIBOR manipulations back to 1991, when he observed, from the futures desk, LIBOR fixings come in at levels different from where he new the market to be.

The concept of bank capital

“The “go-hard/go-early and no regrets” approach of the Australian states has been vindicated by the Institute for New Economic Thinking (INET), a nonpartisan, nonprofit organisation established in the wake of the 2009 global financial crash.” …. “We must be ready to accept renewed restrictions, targeted shutdowns and border closures. As the INET report clearly demonstrates, the failure to act is much more costly than any temporary measures, such as those used in South Australia last month.” — Dennis Atkins

The physicist Sorin Solomon begins to feel dizzy when the economist Leanne Ussher talks econ lingo. Yet he listens, because the two of them have found a productive area of collaboration: some economic phenomena, they find, can be explained without recourse to the quirks that feed into human decision making.

In 2006, the Fed asked its macroeconometric model what would happen if house prices dropped by 20%. The model projected the past into the future and said: “Not much.” Well, the financial crisis proved it wrong.

To celebrate the release of our new series “What Money Can’t Buy” join Harvard University Professor Michael Sandel and INET for a live conversation exploring the role of money and morals in today’s world.

Immanuel Ness critiques the belief that migration drives economic development, revealing how it often merely aids survival and perpetuates exploitation.

Efforts to erase race-conscious policies threaten broader equality initiatives.

In a society where asset ownership is incredibly unequal, social mobility become severely diminished

Andre Perry, senior fellow at the Brookings Institution and author of the book, Know Your Price: Valuing Black Lives and Properties in America’s Black Cities, discusses the ongoing problem of how real estate dynamics continue to maintain racial injustice in cities across United States, and how we need a “reparative culture” to address the problem.

Rob Johnson and Michael Sandel discuss the limits of rational choice

After re-iterating five well-known theorems about the properties of conditional expectations in stationary settings—such as providing unbiased minimum mean square error predictions despite in- complete information, and the law of iterated expectations—we clarify unpredictability and illustrate its prevalence empirically.