Prospect Weekend Reads Week of January 9th Stories from the week you don’t want to miss!
JONATHAN RAA/NURPHOTO VIA AP
Keeping crypto out of the
broader financial system was the most important regulatory action of the past decade.
Regulators Prevented a Crypto-Fueled Economic Downturn: Congress may try to act to rein in the crypto industry, but the most important regulation has already been accomplished — preventing the economy from a crypto-fueled recession. David Dayen has the story.
The Risks of the Biden Escalation: Shocks to
production have reshuffled the position of American workers in global affairs, but in an age of multipolarity, the U.S. should be wary of acting like a hyperpower. Read Lee Harris on the downsides of the Biden administration's approach to foreign policy.
Learning the Right Lessons From Recent Inflation: According to conventional wisdom, inflation is a consequence of macroeconomic overheating, and the cure requires reining in spending. But policy solutions proposing austerity, Josh Bivens argues, will cause more harm than good.
The End of the Student Loan System: The Biden administration's proposed rules on the income-driven repayment system could end student loans as we know them. Read David Dayen on why it's not enough to tackle the exorbitant costs of higher education.
Et Tu, Jared Polis?: There are better responses to the influx of migrants than busing migrants, like increased communication between states and cities, or connecting those who need it with local nonprofit groups that provide short-term shelter and assist after the intake process. Gabrielle Gurley has the story.
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