We estimate the relationship between investment and unemployment in order to explore whether the medium-term relationship emphasized by Franco Modigliani survived the recent Great Recession. Our results indicate that the relationship held up, both employment and investment fell although the...

Populism embeds truth in a welter of lies. Populism erodes trust in mainstream political parties, institutions, ideas, and ideologies. Stagnating productivity, large trade imbalances, and waves of immigration have contributed to increased discontent in the West and eroded trust. Inclusive growth...