The High Cost of Global Darkness
Capital Flows and the Electrification GapThe grid is a ghost. For 685 million people, the promise of the modern industrial…
Category: Economy
The Economic Friction of the Collins Compromise
The border is a balance sheet.Markets are currently pricing in the structural disruption of the second Trump administration’s mass deportation…
Goldman Sachs Bets on a Frictionless Global Recovery
The Rearview Mirror FallacyJan Hatzius is selling a dream of frictionless growth. Speaking at the Goldman Sachs Global Macro Conference…
The Bio Economy Masked by Youthful Art
Soft Power and Hard AssetsThe tweet appeared at 5:00 AM. It seemed innocuous. The United Nations Development Programme (UNDP) launched…
The Great Labor Decoupling
The Davos Consensus ShattersThe machines are no longer coming. They are here. This week at the World Economic Forum, the…
Sovereignty Clashes Shadow the Milano Cortina Games
The Price of Security IntegrationSovereignty is expensive. Italy is finding out the hard way. As the opening ceremony for the…
The Emerging Market AI Mirage
Capitalism is a machine for efficiencyIn the West, AI is a toy for generating images. In the Global South, it…
Transatlantic Friction Risks the London Premium
The rhetoric is loud. The capital is quiet. For years, the political friction between London City Hall and the White…
Federal Security Failures Trigger Market Contagion After Pretti Shooting
The Price of Institutional FailureMarkets hate uncertainty. The shooting of Alex Pretti provided it in spades. On the morning of…
Mongolia Solar Pivot Breaks the Coal Monopoly
The Steppe is Turning BlueCoal is dying in the Mongolian steppe. It is a slow, expensive death. For decades, the…