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Adam Tooze, Kathryn and Shelby Cullom Davis Professor of History, was quoted in Financial Times.

Wage growth poses a dilemma for union-friendly Biden.

Adam Tooze, a Columbia University professor, notes in a trenchant essay on the BIS report, “technocrat who celebrates the decline of the bargaining power of organised labour because it makes inflation-control easier” looks politically naive, or blind; it risks stoking “troublesome populism”.

The trade deficit was partly to blame for the hit to GDP. But there's a silver lining.

Gross domestic product shrank by 1.4% in the first quarter of the year, hindered by two major parts of the equation — inventories and net exports . . .

. . . “What you’re really seeing when you have a big, growing trade deficit is that we’re spending more on the things that we buy from abroad,” said Columbia political economist Sharyn O’Halloran . . .

Why the U.S. is going after yachts and mansions of Russian billionaire oligarchs

. . . “This time around, the effort to track down their assets is much greater,” Timothy Frye, professor of post-Soviet foreign policy at Columbia University, told CNBC. “It’ll take a long time to dig through a lot of the dodgy real estate purchases and the like, but there does seem some commitment to make that happen." . . .

Read the full article here.

Putin’s Domestic Approval Rating Reaches Highest Level In Five Years

Russian President Vladimir Putin has his highest approval rating among Russians since September 2017, according to a poll released Wednesday by the independent Moscow-based Levada Center, indicating popularity back home for the Russian leader soared while he was widely criticized abroad for launching a brutal war on Ukraine . . .