Politics and Policy

Millions of government workers in the U.S. are relying on pension plans for retirement, and yet these plans are underfunded by at least $1 trillion. Asset manager Ranji Nagaswami ’86 argues that addressing this challenge is about more than assets and liabilities—we have to look at how funds are run and, critically, how they think about risk.

In a New York Times op-ed, Professor Robert Shiller writes that efforts to prepare for climate change should include the use of private institutions of risk management, such as insurance and securitization, to share risk and smooth the unpredictable effects of future disasters.

Regulation is often a contentious issue, but most agree that some is necessary and too much is harmful. How do you find the sweet spot? Yale Insights asked practitioners to talk about regulation that impacts their industries.

Social structures, attitudes, and laws can seem unchangeable—and then in the historical blink of an eye, a society is transformed. What prompts such change? Margaret Marshall, the judge who wrote a key decision in the development of same-sex marriage in the U.S., says it takes a lot more than any one court case.

Six highly influential policymakers surveyed the current state of the world’s major financial institutions and discussed how to prevent another crisis.

The scale of urbanization in China is without precedent in human history. The transformation is also complex and nuanced, says Yale’s Karen Seto, with cities taking different approaches to environmental issues, pace of development, and global connections.

Today’s political and cultural debates reflect a lack of consensus not just on policy but on the facts themselves—and on who is qualified to judge the truth. Robert C. Post, the dean of Yale Law School, argues for an approach to free speech that preserves the role of expertise.

In the New York Times, Professor Robert Shiller writes that the United States should reduce government subsidies for homeownership, while finding another way to promote household saving.

Can laws created to rein in the monopolies of the industrial age still work in the information age? After spending a year as the top antitrust economist at the U.S. Department of Justice, Professor Fiona Scott Morton describes the state of antitrust regulation today.

In a New York Times op-ed, Professor Robert Shiller writes that President Obama’s proposal to change how inflation is measured in Social Security benefit calculations “…solves the wrong problem, and, in doing so, undermines the integrity of the Social Security system.” One alternative, suggests Shiller, is to link retirees’ benefits to GDP per capita, in current dollars, which would align the interests of the retired with those of society as a whole.