Modern surveys help economists get into people’s minds: it turns out that people’s perceptions of the economy are not in line with reality, which in the end, can undermine economic policy, argues Stefanie Stantcheva, professor at Harvard.
Capitalism is not driven by the selfishness and greed of the homo economicus but by decentralized decision-making that allows for experimenting and learning from one another, and the future lies with unity of purpose and mutual support, argues Paul Collier, professor at Oxford.
James Robinson, co-author of the famous book “Why Nations Fail”, on how the erosion of political institutions is affecting global economy and why COVID-19 will not be a watershed in institutional development.
Not so long ago, the basic principle central banks followed in their communication policy was to completely avoid communicating. Now, in the wake of a drastic change in their communication with the markets, central banks are mastering new means of communication with the public.