James Livingston: Is banking a long con?

Also, this year's Nobel laureates in economics highlight critical dimensions and applications of their research in PS Big Picture. [View this message in a web browser]( OCTOBER 18, 2024 This week in PS Longer Reads, James Livingston, Professor Emeritus of History at Rutgers University, asks why so many observers now believe that banks are running a con game. [Read now](. In PS Big Picture, this year's Nobel laureates in economics – Daron Acemoglu, Simon Johnson, and James A. Robinson – highlight critical dimensions and applications of their research. [Read now](. And in PS Quarterly, Kyungmee Kim, Senior Associate Researcher at the Stockholm International Peace Research Institute’s Climate Change and Risk Program, shows how wars and geopolitical tensions are hindering progress on climate-change mitigation and adaptation. [Read now](. [PS Longer Reads: The Brutes' New Suits]( [The Brutes' New Suits]( By James Livingston Today's leading financial observers, from left to right, depict a banking sector teeming with bespoke-suited knaves willing to mortgage their mothers’ souls. As several recent books make clear, violation of rules has become deeply integrated into banks' business models. [Read more]( [PS Fall Sale: Save 40% on any new Digital or Digital Plus subscription]( [PS Big Picture: Nobel Laureates Help Solve the Inequality Puzzle]( [Nobel Laureates Help Solve the Inequality Puzzle]( with Daron Acemoglu, Simon Johnson, and James A. Robinson While even the world’s poorest economies have become richer in recent decades, they have continued to lag far behind their higher-income counterparts – and the gap is not getting any smaller. According to this year’s Nobel Prize-winning economists, institutions are a key reason why. From Ukraine’s reconstruction to the regulation of artificial intelligence, the implications are as consequential as they are far-reaching. [Read more]( [PS Quarterly: The Climate-Conflict Nexus]( [The Climate-Conflict Nexus]( By Kyungmee Kim A collective response to climate change is crucial to maintaining global stability. But heightened geopolitical tensions and ongoing wars (in Ukraine, Gaza, and many other parts of the world) are complicating international efforts to close climate financing gaps and address other shared problems. [Read more]( [PS. Subscribe now to access the latest issue of our magazine, PS Quarterly: The Climate Crucible.]( [PS Longer Reads: America's Broken Constitution]( [America's Broken Constitution]( By Nicholas Reed Langen While many argue that America’s founding document must be completely overhauled, reforming the Supreme Court may well be sufficient. And with the Electoral College and the Senate politically off-limits, bringing the Court into the twenty-first century may have to suffice. [Read more]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. Secure exclusive rights to PS content [here](. Interested in advertising opportunities? Email sponsorship@project-syndicate.org. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.