Biden’s budget shows the big-spending state is here to stay

President Joe Biden is asking Congress to approve a $6 trillion budget for the 2022 fiscal year—the most lavish level of federal spending since 1945. As the government funds a host of social welfare, infrastructure, education, and climate change measures, total expenditures will climb to $8.2 trillion by 2031. For a decade, the government will […]

Climate change will hit the factories of hotter, poorer countries first

As the world warms, the countries that will suffer the biggest losses in industrial productivity are those that need productivity the most, a new paper suggests. These are countries that are already hot, and that are inevitably also among the world’s poorest or most populous: countries in Asia, Latin America, and Africa that have historically […]