Neoliberalism rests on the myth that “good” families can provide for their own without public support. COVID-19 may finally change all that. the conditions for the squeeze that families are currently experiencing were set long before the pandemic hit U.S. shores. The seeming impossibility of the current situation for American families is not an unfortunate […]
Chaos Scientist Finds Hidden Financial Risks That Regulators Miss
Oxford Professor Doyne Farmer is working with central banks to improve stress testing. Economics is harder than physics, Farmer says. People don’t obey rules as reliably as atoms do. In his stress-test model of the European financial system, for instance, he had to make assumptions about what assets bankers might dump after their firms suffered […]