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Section

Economy

Markets, labor, and the distribution of everything

Lead Story

Three Signals That Typically Precede Recessions — And What They're Saying Now

The inverted yield curve. Declining leading indicators. Consumer credit stress. Two of the three have been flashing for months. History suggests a window of twelve to eighteen months.

Miles ThorntonMarch 11, 2026
Economy

The Inequality Machine

American wealth inequality has returned to Gilded Age levels. The political system designed to address it has instead accelerated it. Here is what the data actually shows.

Elena Vasquez12 min
Economy

The Productivity Mirage

American workers are more productive than at any point in history. American workers have not seen meaningful wage gains in decades. These two facts are not a paradox. They are a policy choice.

Daniel Hirschberg11 min
Economy

The Housing Crisis Is a Policy Choice

For forty years, American cities and towns have known what to build and chosen not to build it. The shortage we are living with is not a mystery — it is a decision, made repeatedly, by specific people with specific interests.

Rachel Stern11 min
Economy

The Debt Ceiling Is a Weapon

Congress created an instrument for fiscal discipline and turned it into a hostage device. Understanding how we got here explains why the next crisis will be worse.

Marcus Webb13 min