Stephen Mihm

Inflation prognostication tends to come down to reading statistical tea leaves. Friday’s report of strong US job growth looks like a sign of economic strength that keeps inflationary pressure high. Recent declines in commodity prices reassured some analysts that the danger could be receding. …

Inflation is often viewed as an economic phenomenon, with mostly economic effects. Policy makers today worry about what inflation will do to the housing market; they express concern about government borrowing costs. They might note changes in individual economic behavior: a shopper pinching pennies…

As President Vladimir Putin was launching his battle to restore Russia’s former glory by leveling Ukraine, something as important to his country’s future had already begun to play out at home. Russia’s most valuable asset — its young people — were indicating they want out. A poll taken before…

To the fast-growing army of cryptocurrency believers, from Matt Damon to Twitter’s @Jack, we are at the dawn of a new age. But Securities and Exchange Commission Chair Gary Gensler sees something else entirely: a “Wild West” of money creation that urgently needs a crackdown. With billions at…

In the never-ending drama that is Brexit, Prime Minister Boris Johnson has floated a proposal to allow the UK’s vegetable and fruit vendors to use non-metric units like ounces and pounds. David Frost, the government minister overseeing the exit from the European Union, described the move as an…

The signing bonus, once the province of elite athletes and corporate executives, has gone mainstream. In the tightest labor market in years, employers like Amazon are shelling out thousands of dollars up front to truck drivers, trash collectors, warehouse workers and other in-demand workers. It…

As the world enters the second year of a deadly pandemic, it’s hard to shake the feeling that each nation is largely on its own. From the spectacle of countries hoarding vaccines to the seemingly endless travel restrictions, the disease seems to have fueled nationalism, undercut international…

The desperate scenes playing out in India may foreshadow a dangerous new phase of the pandemic where people die in droves, not of the disease so much as a lack of proper medical care. The situation could get a lot worse thanks to a sudden shortage of medical oxygen in the country. Oxygen is one…

When Covid-19 first arrived last year, everyone’s go-to historical parallel was the 1918 influenza pandemic. Precisely because it was so fleeting, it’s hard to find evidence that it caused a sweeping reorientation of everyday life. In its wake, most people simply forgot what happened. Other global…

In recent months, statistics on violent crime have confirmed a troubling trend: Homicide rates in the US, long on the wane, shot upward in 2020. Early signs suggest it’s continuing. Many cities have reported new spikes in murder rates in early 2021. Many commentators blame the pandemic for the…