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Japan’s reactors are “light water” reactors, whose safety depends on an uninterrupted power supply to circulate water quickly around the hot core. A light water system is not the only way to design a nuclear reactor. But because of the way the commercial nuclear power industry developed in its early years, it’s virtually the only […]

Transport economist Chris Bradshaw wants planners and designers to respect what he calls “the scalar hierarchy.” This is when trips taken most frequently are short enough to be made by walking (even if pulling a small cart), while the next more frequent trips require a bike or street car and so on. “If one adheres […]

Why does Google even need a chief economist? The simplest reason is that the company is an economy unto itself. The ad auction, marinated in that special sauce, is a seething laboratory of fiduciary forensics, with customers ranging from giant multinationals to dorm-room entrepreneurs, all billed by the world’s largest micropayment system.

Why The Economist is thriving while Time and Newsweek fade

Few economists saw our current crisis coming, but this predictive failure was the least of the field’s problems. More important was the profession’s blindness to the very possibility of catastrophic failures in a market economy.

President Barack Obama during his first months in office seldom has missed a chance to liken the country’s healthcare system to an unburied corpse, which, if left lying around in the sun by the 111th Congress, threatens to foul the sweet summer air of the American dream. The prognosis doesn’t admit of a second or […]

Throughout his dazzling but controversial career—top World Bank economist, Treasury secretary, Harvard University president, and now head of the White House National Economic Council—Larry Summers has been his own worst enemy.

In “Nudge,” a popular book that he wrote with the influential behavioral economist Richard Thaler, Sunstein elaborated a philosophy called “libertarian paternalism.” Conservative economists have long stressed that because people are rational, the best way for government to serve the public is to guarantee a fair market and to otherwise get out of the way. […]

Tom Keene talks with Bob Shiller, Peter Orszag, and other leading economists on how to “get out of this mess”