Noah Smith
Free trade aids growth even though some people lose
Harvard economist N. Gregory Mankiw -- my doctoral adviser’s doctoral adviser -- is a great researcher, wickedly smart and possessed of exceptional intuition. His...
The downside of the bull market in graduate school
As you may have heard, the job market has been tough for the last decade and a half. Median wages have flatlined. One way...
What Is the right size for the financial industry?
Does finance create value? Does it just siphon money from some people and give it to others? Does it destroy value? I see people...
Energy ?revolution ?underway
The most important piece of news on the energy front isn't the plunge in oil prices, but the progress being made in battery technology....
Stock picking is losing favor, but will never die
For decades now, finance professors, financial journalists, Jack Bogle and Vanguard have been trying to hammer it into your head: Active management is bad....
Roads, bridges, tunnels must matter to Americans
It’s almost a cliche at this point – the U.S. needs to spend more on infrastructure. Other countries are running circles around us in...
Wall Street skips economics class for old school
If you care at all about what academic macroeconomists are cooking up (or if you do any macro investing), you might want to check...
Only dummies ignore benefits of foreign brainpower
It’s difficult to believe passionately in an issue that almost nobody cares about, and when those that do care usually disagree with you. But...
It’s no surprise that hedge funds won’t make you rich
The recent release of Institutional Investor Alpha’s hedge-fund survey has everyone asking how the fund managers continue to make so much money. Academics and...
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