The rise of populist parties such as the Five Star Movement in Italy and the Front National in France are rocking the political certainties of the last decades. And that also affects the economy.
Nicholas BloomThe high-tech industry needs the immigration of highly qualified labor, from India, from China, from everywhere.
Nicholas BloomThe Brexiteers promised their supporters wonderful things, almost none of which can ever come true. The billions that London transfers to Brussels will most certainly not land in the budget of the country's National Health Service. Brexit is going to be very bitter for many of its supporters.
Nicholas BloomMany people who have lost out in the last few decades voted for Trump. Trump will have a difficult time turning them into winners. The jobs of these people are not at risk because of Chinese or Mexican workers, but because of robots and computers. And new trade barriers and higher tariffs are not going to change that.
Nicholas Bloom