[Mariana Mazzucato] How to save the pandemic treaty

Recent drafts of a global pandemic treaty have been widely criticized as “shameful and unjust.” When the latest round of negotiations opened on March 18, it was clear that a key lesson of the COVID-19 pandemic was being ignored: public health and the health of the economy are interdependent. Achieving both requires rewriting the rules of how health and well-being are valued, produced, and distributed -- and how economies are governed. The treaty’s success will depend on member

March 28, 2024

[Martin Schram] Free Hamas’ Israeli and Gaza civilian hostages

We are in a world of trouble. Wherever we look these days, all kinds of hell is happening. Or just happened. Or may soon happen. For Gaza’s 2 million-plus Palestinians, things are about as bad as things can get. Yet, a mind-boggling new poll just revealed most Gaza Palestinians are still clueless about who to blame for their misery that has shattered their lives. Also: World leaders appear clueless about what, if anything, they can or should do about it. A half century ago, Israel’s

March 28, 2024

[Kim Seong-kon] The April 2024 election will decide our future

People say that the future is full of “hopes.” Alexander Pushkin expresses the sentiment well in his celebrated poem, “Should This Life Sometime Deceive You”: “Our heart lives in the future, so/ What if gloom pervades the present?” (Translated by Genia Gurarie). However, foreseeing the ominous dark clouds ahead of us, we can only “hope” to survive the perfect storm awaiting us. For an example of this “perfect storm,” take the recent pre

March 27, 2024

[Jeffrey Frankel] Democrats are better for the US economy

Under President Joe Biden, the US economy has performed much better than virtually anyone predicted. And yet voters seem not to realize it -- an apparent puzzle that has been much discussed lately. In fact, this disconnect between popular perception and economic performance is nothing new. Since World War II, the US economy has consistently done better during Democratic administrations, yet a large share of Americans -- possibly even a majority -- believe that Republicans are better economic ste

March 27, 2024

[Anika Collier Navaroli, Ellen K. Pao] Everyone wants to rein in Facebook, TikTok and other social media. This is one obvious solution

Powerful technology has perhaps never presented a bigger set of regulatory challenges for the US government. Before the state primary in January, Democrats in New Hampshire received robocalls playing AI-generated deepfake audio recordings of President Joe Biden encouraging them not to vote. Imagine political deepfakes that, say, incite Americans to violence. This scenario isn’t too hard to conjure given new research from NYU that describes the distribution of false, hateful or violent

March 26, 2024

[Grace Kao] How makgeolli signals virtue in K-dramas

Makgeolli, a milky-colored and lightly carbonated type of Korean rice wine, is a common topic of conversation in our household. Since 2015, my husband, Jeff Rubidge, has been brewing and uploading videos about makgeolli for his YouTube channel. It is a modest drink that only requires three ingredients to brew: rice, nuruk (a Korean fermentation starter) and water. It can be purchased for less than US $2 per bottle in Korea. I have also noticed its role in signaling virtue in K-dramas. Let me exp

March 26, 2024

[Yoo Choon-sik] Won weakness outlasting forecasts

The foreign exchange rate is an important price variable not just in the sense that it influences a wide range of economic activities such as exports and imports, but because it is often taken as reflecting the comparative strength of a country’s economic fundamentals against others. It also influences and is influenced by the country’s macroeconomic policies. South Korea is paying especially close attention to the exchange rate movement because it is a very open economy, relying hea

March 25, 2024

[Media Art Now] Lee Eun-hee renders palpable the mechanics of stress

That digital is immaterial is simply a delusion, but this idea is not easy to dispel. We hold a screen, whether it be a smartphone, a tablet or a laptop, but looking at only the images on it, we are not really conscious of the physical machines. We tend to forget about them or take them for granted. However, the digital world we live in today is reliant on mechanical infrastructure and on natural resources, perhaps more critically so than ever. Think about the digital blackout caused by physical

March 24, 2024

[Robert J. Fouser] Seoul as a multilingual city

When people think of multilingual cities, big names like New York and London immediately come to mind. Other important global hubs, such as Brussels, Dubai, Singapore, and Toronto are known for their linguistic diversity. But what about Seoul? With 95 percent of its residents being native speakers of Korean who were born in South Korea, Seoul does not give the impression of being a multilingual or multicultural city. At 5 percent, the percentage of residents born abroad is high by historical sta

March 22, 2024

[Wang Son-taek] Democracy summit and dispute over autocratization

The third Summit for Democracy was held in Seoul for three days from March 18. The event was significant because foreign ministers of major countries gathered to discuss Democracy for future generations and the sensitive problems from cutting-edge technologies, including Artificial Intelligence. In particular, Korea, one of the poorest countries and one of the military dictatorships 50 years ago, is proud to have become a prosperous country and hold a democracy summit. However, according to the

March 21, 2024

[Kim Seong-kon] Competition begins from birth in Korea

Few Koreans would deny that South Korea is a highly competitive society. People say that the competition is so stiff that your child should begin preparing for it as soon as he or she turns three years old. Indeed, parents send their three-year-olds to preschool and private academies for piano, violin or art lessons after school. Then, a little later, English-speaking kindergarten awaits your child. When your child enters elementary school, the competition for college entrance has already begun.

March 20, 2024

[Joseph E. Stiglitz] A big defeat for Big Tech

Last year, US President Joe Biden’s administration infuriated lobbyists representing Big Tech firms and others that profit from our personal data by denouncing a proposal that would have gutted domestic data privacy, online civil rights and liberties, and competition safeguards. Now, Biden’s new executive order on Americans’ data security reveals that the lobbyists had good reason to worry. After decades of data brokers and tech platforms exploiting Americans’ personal da

March 20, 2024

[Grace Kao] My Korean hospital adventures after breaking ankles

The doctors’ strikes in South Korea reminded me of what happened after I broke both of my ankles in Seoul last April. While there is never a good time or place to break one’s ankles, doing so while traveling abroad is quite a challenge. I was in Seoul giving talks at universities and meeting with people in the K-pop industry. While my friends joked that I should tell people that I fell while working as a backup dancer for a K-pop act, the truth is that I fell from a single missed ste

March 19, 2024

[Yvette Wohn] Korean modern art needs permanent home

As an art enthusiast living in New York whose pastime is spent traveling to see art, I have never felt more proud to be Korean. Since last year, there have been so many special exhibitions of Korean art and solo exhibits of Korean artists taking place in the US and Europe. Adding to my excitement is the fact that there is more modern Korean art (from the 1860s to the 1970s) on display, which is relatively hard to find outside of Korea. These days, however, there seems to be a surplus of Korean a

March 19, 2024

[Yoo Choon-sik] Korea’s construction industry slump deepens

South Korea’s economy is widely expected to post a pick-up in growth this year thanks to a recovery in exports after months of extremely poor performance. However, a recent series of data points to the slump in domestic demand worsening, and the construction sector’s troubles are particularly worrying as project-financing loans remain a key risk to the economy. Some of the project-financing loans, which surged in line with the booming property market, especially during the previou

March 18, 2024

[J. Bradford DeLong] The mystery of US interest rates

In the United States, the long-term real safe interest rate – the inflation-adjusted return on low-risk investments such as Treasuries – is, in addition to “financial conditions,” the key mechanism influencing both the incentive to build and the balance of net exports (owing to its effect on the exchange rate). From early March to mid-May 2022, this metric jumped by more than one percentage point as the bond market realized that the US Federal Reserve would soon curtail i

March 18, 2024

[Carl P. Leubsdorf] Another key date in US history?

With Donald Trump, everything is often the biggest ever or the grandest ever. His political movement, he often proclaims, is the greatest in American history. And Nov. 5, when he hopes to regain the presidency, “will be the most important day in our nation’s history.” Really? Bigger than July 4, 1776? Or the day Abraham Lincoln issued the Emancipation Proclamation? Or the day the Berlin Wall fell, marking the end of the Cold War and portending the collapse of the Soviet Union?

March 15, 2024

[Career Compass] Mentor is invaluable asset. Get one, or more

Is having a mentor a good idea? I want to try it but don’t know much about how the relationship works. Where do I find a good mentor, and what do I discuss with the mentor? Yes, having a mentor is an invaluable asset. A mentor is hugely beneficial for both professional and personal growth. Think of a mentor as an advisor, a supporter and a confidant. Mentors lend their ears, share their experiences and offer wisdom to help you overcome challenges and achieve your goals. However, like a

March 14, 2024

[Noelle Lenoir] Can UNRWA officials be prosecuted?

There is growing evidence that some employees of the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) have been involved in terrorism-related activities in Gaza. If true, and if the problem turns out to be more widespread than is currently known, the implications would be profound. An official UN body being complicit in war crimes would be one of the greatest scandals in the organization’s history. According to an Israeli intelligence document, a dozen UNRWA emplo

March 14, 2024

[Kim Seong-kon] ‘Home is where the heart is’

What is “home”? The English word “home” has diverse meanings. It refers to not only “home,” but also “house,” “hometown” and “homeland.” English-speaking people also use expressions, such as “homeless,” “home for sale,” “high school homecoming” or “homecoming queen.” Well-known English phrases include: “There’s no place like home,” “Home, sweet home&rdqu

March 13, 2024