What comes after neoliberalism? The answer, according to Harvard economist Dani Rodrik, is "productivism" — a new consensus, seen across the political spectrum, that ditches globalism and laissez-faire capitalism for something more local and state-directed.
Why it matters: Productivism is a broad enough church to cover both Donald Trump and Joe Biden — and also Boris Johnson, across the pond. That might give pause to would-be productivists: Both Trump and Johnson failed to get re-elected, and that's a real possibility for Biden, too.
Homes, like stocks, are in a period of divergence right now.
Why it matters: When you buy a stock, the chances of it broadly mirroring the market as a whole are now pretty low. In housing too, different markets around the country are likely to diverge significantly.
Arizona educators can begin teaching in public schools while still earning a college degree under a new state law signed by Gov. Doug Ducey on Tuesday.
Commerce Secretary Gina Raimondo expressed empathy about the inflation concerns of everyday Americans during an appearance on NBC's "Meet the Press" but maintained that the U.S. economy is fundamentally strong.
Why it matters: Decades-high inflation has spurred fears of an economic downturn, with some analysts warning that fear of a recession could become a self-fulfilling prophecy, Axios' Javier E. David writes.
Tesla and its stock price have played supporting roles in the Elon Musk-Twitter drama, which took a new turn yesterday when Musk attempted to bail on his takeover of the social media company.
Why it matters: Tesla’s shareholders — even some of Musk’s biggest fans — got hurt.
If the fight between Twitter and Elon Musk in the Delaware Court of Chancery makes it all the way to a verdict, there's a decent chance that Musk will lose. In that event, "specific performance" could come into play.
Why it matters: If Musk is allowed to walk away while paying a $1 billion break-up fee, that would be a clear victory for the billionaire. The judge can instead grant specific performance, however — which means forcing Musk to buy Twitter for the agreed-upon price.
