Turkish-American economist; MIT professor; Nobel laureate known for work on institutions and development
The Royal Swedish Academy of Sciences has recognised Robert Hall and Michael Woodford for developing microeconomic foundations of macroeconomic stabilisation, enabling policymakers to smooth business cycles. The prize highlights New Keynesian models that connect household and firm decisions to policy tools, with forward guidance becoming a central instrument.
Elon Musk has told Walter Isaacson that AI and robotics will slash spending and drive a multi-planetary economy, where currency becomes obsolete and value is measured in mass and energy. He says leadership in Washington is reluctant to curb wasteful spending, and his own time in government was a learning experience.