Globalized Green Lanternism

American political commentators have frequently called for the U.S. president to take effective action to improve world economic growth. Such calls are a form of what Matthew Yglesias has dubbed “Green Lanternism”—the unspoken theory that the U.S. president’s ability to affect outcomes is primarily affected by his willpower. In this article, I examine the opposite—and more plausible causal relationship—that the power of the U.S. president is shaped by the underlying secular determinant of world economic growth. I go on to examine how we might expect U.S. power and interests in building up a multilateral trading order could largely wither away under conditions of enduring weak economic growth, which some economists have argued is in fact the most plausible long-run growth path for the world economy.

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Other Writing:

Academic Article

Trust, Institutions and Institutional Evolution: Industrial Districts and the Social Capital Hypothesis – with Jack Knight

Much current work in the social sciences seeks to understand the effects of trust and social capital on economic and political outcomes. However, the sources of trust remain unclear. In this article, the authors articulate a basic theory of the relationship between institutions and trust. The authors apply this theory to industrial districts, geographically concentrated ...
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Essay

The Blogosphere as a Carnival of Ideas

In July 2004 an anonymous blogger revealed his identity when he allowed his photograph to be taken at the Democratic National Convention. “Atrios,” the writer of a prominent left-wing blog, Eschaton, turned out to be Duncan Black, an assistant professor of economics at Bryn Mawr College. Black had worried that a trenchant political blog might ...
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