Alice Rivlin Continued, by David Henderson

Yesterday, I posted some highlights from a 2002 interview with Alice Rivlin. Here are more highlights from that interview. Speaking Truth to President Clinton Then we went back and worked on the draft and sent…

Virtue and vice signalling, by Scott Sumner

Robert Shrimsley has an amusing piece in the Financial Times, which discusses virtue signalling: Virtue-signalling, for those who have never felt drawn to the term, is the apparently modern crime of trying to be seen…

Long-term and intergenerational effects of education

Governments in developing countries spend approximately one trillion dollars annually on education, and households are estimated to spend hundreds of billions more on the education of their children (Glewwe and Muralidharan 2016). Government education spending…

Promises to repay and sovereign spreads

In corporate borrowing, courts can enforce creditors’ claims, including by requiring a firm to hand over assets to creditors. This enforcement mechanism provides some assurance of repayment, but it is weaker in sovereign debt for…