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John Martinis, winner of the 2025 Nobel Prize in Physics, in an official portrait.

Strap a Rocket to the Horse

A Nobel Prize-winning physicist looks back on the circuit that stood in for an atom and tells students to keep doing their own problem sets in the age of AI.

Issue 5
Sri Lanka’s commercial capital and major port city, Colombo, seen along its waterfront at sunset.

The Chance to Build

Developing countries are losing their brightest graduates for lack of opportunities at home, the author argues, and start-ups would keep more of them than tax incentives would.

Issue 5
Paul Milgrom, Nobel Prize-winning economist and Stanford University professor.

Why Your Phone Signal Won a Nobel Prize

A Nobel prize winner describes how his team ran a $19.8 billion spectrum auction and why changing a market's rules changes what people do.

Issue 3
Kenneth Roth at the Munich Security Conference, February 2018.

Shame, Reconsidered

Shaming works because even Trump and Xi pretend to respect human rights, says a former head of Human Rights Watch, who wants allies held to the same standards.

Issue 4
Aerial view of the Skybox AI data centre campus under construction in Hutto, Texas, April 2026.

Who Pays for Intelligence?

AI is straining electricity grids built for another economy, so the question is who pays for the power and who carries the risk if the boom falls short.

Issue 2
Giorgio Parisi receives his Nobel Prize medal and diploma in Rome, Italy.

Read Science, Not Just About It

A Nobel Prize-winning physicist calls research slow, collective work and describes how his spin-glass mathematics was applied to memory in the brain.

Issue 4
A queue forms at a cash machine for 100-rupee notes in Howrah, West Bengal, India, 8 November 2016, the day the 500- and 1,000-rupee notes ceased to be legal tender.

Cash Refuses to Die

Pakistan handles hundreds of millions of digital payments a quarter yet still runs on cash, and the article says going cashless risks privacy and leaves some people out.

Issue 3
Sunderland face Chelsea at the Stadium of Light during a Premier League match in Sunderland, England, 24 May 2026.

The Shirt Off Their Backs

With betting sponsors banned from the front of Premier League shirts, clubs face an £80 million shortfall because sponsors overpaid by around 38 per cent.

Issue 4
Mark Carney speaks in Ottawa, Canada, 22 August

“Axe the Tax”

Explains why Canadian voters rejected a carbon tax that returned most households more money than it cost them.

Issue 2
U.S. Customs and Border Protection officials stand beside seven tons of seized marijuana.

What Bans Don't Stop

A Toulouse economist explains how bans on drugs and migration can backfire, and how legal cannabis and temporary work visas can undercut dealers and smugglers.

Issue 4
The United Nations General Assembly hall, seen empty between sessions, New York

The Lottery You Cannot Leave

Argues that rich countries owe the world's poor justice, because the trade and finance rules that decide a child's chances from birth were written without them.

Issue 2
The Edmond J. Safra Campus of the Hebrew University of Jerusalem.

The Best Investment of Your Life

Limited access to credit holds back education, and the Israeli conflict costs about 30 per cent of GDP, according to a Hebrew University economist.

Issue 4
The Mae Moh Power Plant in Lampang, Thailand, a major coal-fired power station operated by the Electricity Generating Authority of Thailand.

Power the Future

Thailand will miss its 2037 renewable target unless it builds a market for battery storage and auctions new generation instead of fixing prices.

Issue 3
Mosquito nets are distributed as part of an aid package at Kibati camp in the Democratic Republic of the Congo.

What You Owe When It Costs You Nothing

A philosopher says the question to ask is whether your life would get worse if you gave away some surplus, and applies it to effective altruism and net zero.

Issue 3
Black Monday, 1987. The Dow falls 22.6% in a single day, partly driven by automated trading

Conditional Fragility

Looks at what happens when AI trading programs for oil, wheat, and other goods act alike during a crisis, and whether the usual safety rules target the problem.

Issue 2
A dilution refrigerator used for quantum computing research at Oak Ridge National Laboratory.

The Quantum Gamble

Looks at the quantum computing boom and finds that firms with working hardware are a fair risk, while firms that only sell a promise are a bet on a story.

Issue 3
Chancellor Rachel Reeves delivers the Autumn Budget, House of Commons, London, 30 October 2024, confirming that VAT would apply to private school fees from January.

Some Are More Equal: For VAT on Schools

Twenty months in, VAT on private school fees is bringing in close to the £1.5 billion a year expected, and enrolment has fallen only a little.

Issue 3
New homes under construction in a residential development, with completed houses visible behind them.

A Demand-Side Disguise

Canada, India, and Britain all cut the cost of borrowing to make homes more affordable, yet the article shows why cheap money cannot fix a shortage of homes.

Issue 5
An fMRI scan showing brain activity during an experiment involving facial expressions and words, with the anterior cingulate cortex highlighted.

Ballot in the Brain

Brain scans link liberal and conservative attitudes to small differences in two parts of the brain, but the article warns that correlation says little about what shapes our politics.

Issue 5
A container ship sits at the Hai Phong International Container Terminal in northern Vietnam, one of the country’s major gateways for global trade.

Little China or Southeast Asian Original?

A former UN economist explains how Vietnam grew and why its banks and universities lag, and says it differs from China.

Issue 4
Shoppers walking and talking on their phones.

Angry by Design

Anger is the fastest-spreading emotion online, and platforms reward it because they are paid for attention, whether or not the outrage is genuine.

Issue 5
A protester writes a message on a truck during the Freedom Convoy protest in Ottawa, Canada, February 2022.

The Virus and the Voter

Covid emergency powers damaged trust in democracy, but the backlash since, from Sri Lanka to Hungary, has so far done more for democracy than the emergency did against it.

Issue 4
The Pliva Waterfall in Jajce, Bosnia and Herzegovina, with the town’s medieval fortress overlooking the falls at sunset.

The Woman Who Wasted My Time

An eight-hour bus ride beside a 78-year-old stranger who marvelled at every sunset leads a writer to argue that optimising your time can leave you under-lived.

Issue 3
The Tribute in Light memorial shining above Lower Manhattan, New York, September 2014

What We “Shouldn't” Love

A philosopher on why patriotism feels good but falls apart once you try to defend it logically.

Issue 2
The Colón Free Trade Zone administration building in Colón, Panama.

The Neighbour Nobody Called

Four failures kept Central America, with its low wages and short route to the US, from winning the factories that went to Asia.

Issue 4
Donald Trump surrounded by Secret Service agents after an assassination attempt at a campaign rally

Make America Great ‘Again’

Hofstadter described the paranoid style in American politics in 1964, and what is new about Trump is that he has brought it to the centre of power.

Issue 1
The Awash River near Asaita in Ethiopia, where irrigation supports agriculture in the country’s dry lowlands, 2015.

The Land Is Not the Problem

Africa has over sixty per cent of the world's unused farmland, and the article says what it lacks is infrastructure and patient investment.

Issue 3
The Estadio Azteca in Mexico City, the first stadium to host matches at three World Cups, 2026.

FIFA Won the World Cup

The 2026 World Cup broke attendance and revenue records, but the article finds that most of the money went to FIFA and little reached host cities or fans.

Issue 5
The Exxon Mobil oil refinery on the Mississippi River in Baton Rouge, Louisiana

When Votes Don't Matter

An Icelandic economist ties the stalled rollout of a constitution backed by two-thirds of voters fourteen years ago to the resource curse playing out inside a wealthy democracy.

Issue 2
Gold bars, representing the physical value that distinguishes gold from cryptocurrencies.

Crypto’s Missing Floor

A Cypriot economist looks at why bitcoin lacks the floor that lets gold hold its value, and at what Cyprus learned after its banks failed in 2013.

Issue 5
Front Street in Hamilton, Bermuda, a major commercial district in the territory’s capital.

Bermuda’s $59 Million Worker

An economist explains how multinationals move profits to places like Bermuda, and says they are productive but increase inequality.

Issue 3
Steven Levitt presents Freakonomics in December 2012.

The Data Will Tell You

The Freakonomics economist describes how he caught sumo wrestlers and teachers cheating, and defends his finding on abortion and crime.

Issue 4
Electronic shelf labels in a supermarket. Prices that once had to be printed can now change by the minute

The End of the Sticker Price

Big data and algorithmic pricing may be eroding the privacy that kept consumers from paying exactly what they were willing to, though the article says how far this has gone is contested.

Issue 2
A crowd gathers outside the Hennepin County Courthouse in Minneapolis as the verdict in Derek Chauvin’s trial is read, April 2021.

The Utilisation of SLAPP Lawsuits in US Politics

X Corp's suit against a non-profit is one example of how SLAPP lawsuits wear down critics with legal costs, and the article calls for a federal law against them.

Issue 4
A Chase bank branch in the United States.

The Lesson Banks Won’t Teach

A Bloomberg financial journalist argues that financial literacy courses blame people for poor financial results when an industry that profits from those results is responsible.

Issue 5
The headquarters of ZEW - Leibniz Centre for European Economic Research in Mannheim, Germany.

The Weighing Problem

A German economist says politicians and economists argue less about the numbers than about whose gains matter more than whose losses.

Issue 3
Passengers using their smartphones aboard a New York City subway train, December 9, 2022

Your Attention, Spent

A philosopher who builds mathematical models of human behaviour maps the attention economy through three character types.

Issue 2
Hurricane Melissa photographed from the International Space Station as it approached Jamaica, 28 October 2025.

The Bank Called Partner

A Jamaican economist discusses why speedy courts deter robberies more than murders, and why many Jamaicans prefer an informal savings club to a bank.

Issue 5
A sculpted pair of clasped hands, an ancient Roman symbol of unity and reconciliation.

Mending What Is Broken

Reading Genesis and the Psalms alongside Feuerbach, the article suggests we pray to repair what is broken, whether or not anyone is listening.

Issue 5
A densely packed residential neighbourhood in Cairo, Egypt

What States and Deeds Can’t Do

An Egyptian political economist explains how Middle Eastern states can be both authoritarian and weak, and why formal property titles won't fix it.

Issue 2
A shop in Nairobi serving as an agent for M-Pesa mobile money and Equity Bank.

Where Is the Leisure?

Microcredit failed the very poor, and the unpaid care work of Kenyan women holds back the whole economy, according to a Nairobi economist.

Issue 5
George Town, Grand Cayman, the Cayman Islands, one of the jurisdictions most closely associated with corporate tax avoidance and financial secrecy.

Follow the Money

A researcher of tax havens explains how multinationals avoid tax and says following the money shows who holds power.

Issue 3
Franklin D. Roosevelt and Winston Churchill seated together during the Atlantic Conference in August 1941

Can Philosophy Explain Politics?

Tests Bertrand Russell's claim that ties Hitler, Churchill and Roosevelt to Enlightenment philosophers, weighing how much of it is actually true.

Issue 1
Casa Orsola, a residential building in Barcelona at the centre of protests over housing costs and evictions.

The Spanish Real Estate Reality

Most of Spain's housing crisis comes from rent caps and slow planning, and the fix is faster building and a gradual end to the caps.

Issue 4
Saturn and its rings, photographed by NASA’s Cassini spacecraft, January 2007.

Shivers Down the Spine

A Yale doctor and sociologist who first saw Saturn's rings as an eighth-grader says scientists owe a debt to the taxpayers who fund their work.

Issue 5
The Paris Agreement is adopted at COP21, Le Bourget, 12 December 2015

Unenforced, not Unsolvable

Thirty years of climate treaties have produced agreement without compliance, because international law has no way to force a country to follow through.

Issue 2
Streetlights illuminate the Rambla, Montevideo’s seafront avenue, at night.

The Price of Getting Caught

A Uruguayan economist says streetlights and jobs can cut crime more than long jail terms, because offenders rarely stop to think about getting caught.

Issue 5
More than 100,000 people gather in Ulaanbaatar during Mongolia’s democratic revolution, March 1990.

Six Months, Six Years, Sixty Years

The chair of the Bank of Mongolia’s Supervisory Board describes the risks of running a central bank in a young democracy and argues that unequal votes need fixing.

Issue 4
Guards outside Prime Minister Mohammad Mosaddegh’s home during the 1953 Iranian coup.

Look Sideways

Powerful groups divide people so that they blame one another, and the article gives cases from Ancient Rome to modern policing.

Issue 4
Kishore Mahbubani speaks at Chatham House in London, March 2013.

The Balance Has Shifted

A former President of the UN Security Council says the West misread China's rare-earth restrictions and calls Vietnam Asia's most underestimated emerging economy.

Issue 5
The Swiss National Bank headquarters on Bundesplatz in Bern, Switzerland, 2024

A Country-less Currency, and a Country Drowning in Its Currency

Why the dollar is used to price trade between other countries, and how demand for the Swiss franc left Switzerland's central bank with the world's largest balance sheet relative to its economy.

Issue 2
Commuters using their phones

Your Attention, Priced

Human attention has quietly become a raw material bought and sold at scale, with costs landing even on services marketed as free.

Issue 2
The Great Hall of the University of the Witwatersrand in Johannesburg, South Africa.

Problem First, Money Second

Africa already has the resources and giving traditions to fund its own development, a Johannesburg professor of philanthropy argues.

Issue 5
Visitors browse the San Ángel art market in Mexico City, where local artists gather to sell their work.

The Evolution of Right and Wrong

A game theorist explains how morality can evolve, with universalist morals favoured where people meet once and particularist morals where they meet again and again.

Issue 3
Matej Černe speaks at the Diggit conference in Slovenia about the future of work and technology.

Cool Idea, Cool Impact, Cool People

A Ljubljana professor says creativity needs constraints, and that pressure backfires and even a few nights of poor sleep reduce it.

Issue 4
Pupils use One Laptop per Child computers at Kagugu Primary School in Kigali, Rwanda, September 2009.

Learning to Change

Education technology changes every few years and schools are slow to adapt, so the author concludes that the best systems are the ones that know what to keep.

Issue 5
A Ukrainian military drone pilot attaches an explosive to an FPV drone at the front line near Bakhmut, 24 October 2023

‘I need ammunition, not a ride.'

Covers the five factors behind Ukraine's resistance and finds that leadership and the ability to adapt in the field mattered more than firepower alone.

Issue 2
Fireboats battle the blaze aboard the Deepwater Horizon drilling rig in the Gulf of Mexico, April 2010.

The Business of Responsibility

Companies now perform social responsibility for show, and the people their actions affect should help set and enforce their duties.

Issue 4
Gen Z protesters outside the municipal office in Bharatpur, Nepal, 9 September 2025.

The Roaming Chair

A Kathmandu political sociologist looks at why Nepal's Gen Z protesters turned on all three main parties at once, and why life abroad often falls short of the dream.

Issue 5
A music therapist plays guitar for a patient in a hospital room.

What the Music Is Doing

Music therapy can lower stress hormones and lift mood, the piece concludes, and it works best as a complement to other treatment.

Issue 5
Bananas for sale, the everyday commodity at the centre of the interview's central example.

The Banana Myth

A political economist uses the story of EU banana rules, which companies and member states pushed for, to show who writes EU law.

Issue 3
The Peristyle at Diocletian’s Palace in Split, Croatia.

Logic Beyond the Canon

A Croatian philosopher argues that logic can test moral and political beliefs but cannot choose our values, and discusses Croatia's philosophical tradition.

Issue 4
The front entrance of Potterspury Lodge School in Northamptonshire, England, 2004.

Levelling Down: Against VAT on Schools

Argues that VAT on private school fees raises less than advertised and shrinks the market for schooling, and that fairness should come from improving state schools.

Issue 3
Six-axis FANUC industrial welding robots on a production line – the earlier wave of automation Prettner contrasts with AI

What AI Doesn't Destroy

AI is wiping out some job tasks and leaving others alone, and the ones left standing are becoming more valuable.

Issue 2
An aerial view of an open-pit mine, where heavy machinery excavates raw materials from the earth.

Is Infinite Economic Growth on a Finite Planet a Myth or a Misunderstood Goal?

Concludes that growth can continue on a finite planet only if it is redefined as flourishing within ecological limits.

Issue 4
Le Lever (1865), an oil painting depicting a mother and child by William-Adolphe Bouguereau

The Kindest Lies

Compares deontology and utilitarianism with care ethics and concludes that white lies may be excusable but are rarely the right choice, since tactful honesty protects both feelings and trust.

Issue 2
Liz Truss poses for an official cabinet portrait with Union Jack flags behind her, September 2021.

When the Markets Said No

Liz Truss lasted seven weeks as Prime Minister, and the article traces how one unfunded mini-budget set off a bond-market panic that ended her leadership.

Issue 5
A dilapidated Soviet-era factory in Yerevan, Armenia.

The Economics of the Living Dead

Georgia's former economy minister explains why failing Soviet-era firms survived for years, and calls for strict bankruptcy laws.

Issue 4
Daniel Kahneman, whose work with Amos Tversky on judgement under uncertainty underlies the piece's argument.

Blind Spot

A positive result on a test that catches 99% of cases leaves only a 16.7% chance you are ill when 1 in 100 people have the condition and the false-positive rate is 5%, and the article asks why people get this wrong.

Issue 3
Defendants in the dock at the International Military Tribunal, Nuremberg, Germany, 1946

Bent by Hand

History has a shape but no built-in destination, so any justice that arrives will be bent there by what people choose to do.

Issue 2
The opening of the Estates General at Versailles, France, in 1789.

The Tax Collector on Horseback

A historian explains how war and the Church built European tax bureaucracies, and why who collects a tax affects whether people pay.

Issue 3
Fragmented blocks crossed by a sharp dark line

The ‘Three-Day’ Special Military Operation

Russia's expectation of a quick fall of Kyiv fell apart under its own overconfidence and flawed planning, made worse by a military still built for an earlier kind of war.

Issue 1
People work on laptops in an office as AI changes the kinds of tasks many white-collar jobs involve.

Beyond the Hype

Young workers in AI-exposed jobs are being hired less than their peers in less exposed work, with no widespread job losses, and firms that stop hiring juniors risk losing future staff and customers.

Issue 4
Traders on the floor of the New York Stock Exchange monitor markets on banks of computer screens.

Numbers Are Not Reality

Quantitative finance cannot forecast the future, the author claims, and the fall of Long-Term Capital Management shows that models are only as good as their assumptions.

Issue 5
The Palace of Westminster in London, 2023.

No Magic at Eighteen

Anyone old enough to be governed is old enough to have a say, and with the bill on votes at 16 now in the House of Lords, the author sets out why.

Issue 5
An aerial view of the Padma Bridge crossing the Padma River in Bangladesh.

Small Country, Big Neighbours

Bangladesh balances India and China while keeping Japan and the West as partners, and a Dhaka scholar explains why its soldiers refused to fire on protesters in 2024.

Issue 4
A financial grid disrupted by a vivid blue disc and white rule

Beyond the Bottom Line

Draws on the collapses of Enron and Carillion, both highly profitable on the surface until they weren't, to show how profit figures can be manipulated in ways cash flow can't.

Issue 1
Two leaders greet each other at the 2025 BRICS Summit in Rio de Janeiro, Brazil.

Neither Washington Nor Beijing

An Indonesian professor explains what joining BRICS means for her country and why balancing between Washington and Beijing is a deliberate strategy.

Issue 5
The Marriner S. Eccles Building in Washington, D.C., headquarters of the Federal Reserve Board.

The Anatomy of a Rate Hike

Rate hikes are warranted against energy-driven inflation but do little about its cause, so governments also need to cut deficits and reform supply.

Issue 4
Shoppers in central Suva, Fiji’s capital and home of the University of the South Pacific’s main campus.

Small Island, Big Shocks

An economist in Fiji explains why the islands' economy lurches from one crisis to the next and how AI forecasting could help a small nation plan ahead.

Issue 5
Martin Luther King Jr. waves to a large crowd gathered during the Civil Rights Movement

A Nation Divided

The Civil Rights Movement completed American democracy while also breaking apart the exclusionary bargain that had kept it stable, leading directly to today's polarisation.

Issue 1
The urban campus of Universidad de los Andes in Bogotá, Colombia, 2019.

Two Passions, One Question

A Colombian economist who once played football applies economics to pressure in sport and advises people to do work they enjoy.

Issue 3
A BP petrol (or fuel) station in the United Kingdom.

The Shock That Cannot Spread

This year's oil price spike will squeeze household budgets and is unlikely to start a second wave of inflation.

Issue 3
Workers harvest groundnuts at an agricultural research station in Malawi.

The Kwacha Squeeze

A falling kwacha pushes up food and fuel prices in Malawi, and access to credit decides who copes best, a Malawian economist explains.

Issue 5
Adam Smith, famous for The Wealth of Nations and its elucidation of the invisible hand and the division of labour.

Ethics Is Like Breathing

An economics professor with 45 years of teaching says economics cannot be free of values, because choosing a policy goal is an ethical decision.

Issue 3
The International Monetary Fund headquarters, Washington, D.C.

The Price of Capital

Developing countries already have green technology, and the article says their problem is the high cost of borrowing, which development banks could lower.

Issue 3
Theodoros Skylakakis, former Minister of Environment and Energy of Greece, during an interview with Business Focus

Universal Capital, Not Income

A Greek MP argues basic income won't be enough once AI displaces labour, proposing housing, dividend-paying capital, and a personal AI agent for everyone instead.

Issue 2
Gold-mining pits cut through the Peruvian Amazon in Madre de Dios, their exposed sediments appearing as bright streaks beside the forest and river.

Good Rules, Weak Enforcement

A Peruvian economist describes how deforestation spreads malaria and privatisation got Peru flying, and adds that good policies fail without enforcement.

Issue 5
Two contrasting geometric city plans in navy and blue

A Tale of Two Scottish Cities

Uses Edinburgh's boom and Aberdeen's long-term unemployment, just 92 miles apart, as a case study in how growth clusters around a handful of cities.

Issue 1
Sophia, a humanoid robot developed by Hanson Robotics, appears at the AI for Good Global Summit in Geneva, Switzerland.

Ethics Are the Scaffolding, Law Is the Building

A Moroccan legal scholar wants binding international AI rules built on ethics, since national laws cannot govern a technology that crosses borders.

Issue 4
Condominium towers line False Creek in Vancouver, Canada.

The Hidden Cost of Canada's Housing Crisis

Canada's housing shortage also raises costs for international students in homestays, and the author wants more supply and standard contracts.

Issue 4
The Faculty of Basic Sciences building at Boğaziçi University, Istanbul – Elgin's institution

Economic Models Can’t Vote

What an economic model tells a government to do and what that government can get away with before an election are often two different things.

Issue 2
Guatemalan President Jacobo Árbenz stands with a group of Indigenous Guatemalans during his presidency.

The Propaganda You Don’t Notice

Propaganda works best when nobody calls it that, and a seventeen-year-old writer recommends curious, self-directed reading as the best defence.

Issue 5
Layered geometric forms in navy, blue, and white

Resource-Rich?

Looks at Asian mining countries and finds they actually do better on quality of life than non-mining ones, suggesting what matters is who controls extraction.

Issue 1
The Maronite cathedral and the Sunni mosque standing side by side in downtown Beirut

Built to Fail

Lebanon's power-sharing system, designed to stop any one sect from dominating, has made reform very difficult and is a major part of the country's problems.

Issue 2
Narva Castle in Estonia and Ivangorod Fortress in Russia face each other across the Narva River along the Estonia-Russia border, 2023.

The Battle Nobody Declares

A scholar in Estonia explains how Russia spreads disinformation in the Baltic states and what separates information war from hybrid and cognitive warfare.

Issue 3
A field of points interrupted by a vivid blue bar

The Climate Crisis Isn't a Science Problem. It's a Political One.

The technology to stop climate change already exists, and what is missing is political will, which the author traces to psychology and uneven power.

Issue 1
Sylvie Nsanga speaks during a podcast discussion on gender and feminism in Rwanda.

"You Can't, Because You Are a Girl"

The media reinforces gender norms and can also change them, says a Rwandan scholar, who uses radio coverage of the abortion law for minors as an example.

Issue 4
Delegates at an ASEAN-Korea CEO Summit, showing the kind of cooperation platforms like AKIGTP aims to create

From Oil Rigs to Climate Tech

An engineer who once built offshore drilling rigs now works on a platform that connects Korean and Southeast Asian green-tech firms, and rates its impact at five out of ten.

Issue 2
A vintage McDonald’s drive-thru sign displays the brand’s distinctive red and yellow colour scheme.

Seeing Red, Trusting Blue

Colour affects branding, but how much depends on context and culture, with blue the best-known sign of trust.

Issue 4
A white sheet suspended between fields of navy and pale grey

An Eye for an Eye?

Defends capital punishment for the worst crimes, as long as it is carried out under strict legal limits.

Issue 1
Overlapping symbols and paper strips suggesting networked conversation

#SocialChange

Phones have sped up and broadened student activism that goes back centuries, with mixed results, because online energy can mobilise young people or leave them cynical and disengaged.

Issue 1