Escaping the Western Wage Trap
Many Western countries – especially the US, Japan, and Germany – should pursue direct government intervention in wage bargaining, says former Editor in Chief of The Economist Bill Emmott.
In the United States and Europe, immigration tends to divide people into opposing camps: those who claim that newcomers undermine economic opportunity and security for locals, and those who argue that welcoming migrants and refugees is a moral and economic imperative. How should one make sense of a debate that is often based on motivated reasoning, with emotion and underlying biases affecting the selection and interpretation of evidence?