Jagdish Bhagwati, professor of economics and law at Columbia, dispels five common myths about free trade such as, “Free trade may increase economic prosperity, but it is bad for the working class.” That’s myth number two, to which he says: “This claim has great credibility with labour unions that believe trade with poor countries produces paupers in rich countries. They therefore argue for levelling the playing field – ie, that the costs for their rivals in poor countries must be raised by imposing the same labour standards that exist in rich countries. Many economists have concluded, however, that continual and deep labour-saving technological change, not trade with poor countries, is a principal culprit in the stagnation seen in rich-country wages nowadays. Moreover, workers profit from lower prices for imported goods such as clothing and electronics.”
Stone Age megastructure under Baltic Sea sheds light on strategy used by Palaeolithic hunters over 10,000 years ago
Archaeologists have identified what may be Europe’s oldest human-made megastructure.
In revolutionary Russia, a group of forward-thinking philosophers offered an alternative to both futurism and communism.
The second law of thermodynamics tells us that entropy always increases. But that doesn't mean it was zero at the start of the Big Bang.
Some of the world's most satisfied societies are poor, small, and remote.
Actor, author, and director Jesse Eisenberg demystifies the role of anxiety and self-doubt in leadership.