Mariana Mazzucato: Don’t Defund the BBC

This week's PS on Sunday features Mariana Mazzucato, James K. Galbraith, Stephen S. Roach, Daron Acemoglu, Anne O. Krueger, Michael Spence, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( FEBRUARY 28, 2021 This week at [Project Syndicate]( James K. Galbraith blames Texas's power outages and water shortages on a fatally flawed free-market model; Richard Haass explains why the Biden administration has to maintain ties with Saudi Arabia's Crown Prince Mohammed bin Salman; Mariana Mazzucato shows how public institutions act not only as market fixers, but also as market shapers; and more. Join the conversation. Economics & Finance [Texas Froze by Design]( [James K. Galbraith]( points out that the state's leaders have known the electricity system was radically unstable in extreme weather since at least 2011 – and did nothing about it. Politics & World Affairs [A Realist Reset for US-Saudi Relations]( [Richard Haass]( points out that foreign policy is about advancing interests, not virtue signaling. [PS. The latests on politics for less than $9 per month. Subscribe now.]( Economics & Finance [Don’t Defund the BBC]( [Mariana Mazzucato]( proposes a new framework for understanding and assessing the role of market-shaping public institutions. Economics & Finance [The Limits to America’s Pent-Up Demand]( [Stephen S. Roach]( cautions that lasting scarring in face-to-face services will limit the rebound in consumption and employment. [Low Dishonest Decades]( On Point [Low Dishonest Decades]( [John Andrews]( draws contemporary lessons from Europe's slide toward war in the 1920s and 1930s. Economics & Finance [An Open Letter to Joe Biden on International Corporate Taxation]( [José Antonio Ocampo]( [Joseph E. Stiglitz]( and [Jayati Ghosh]( urge the US president to support reforms intended to compel multinationals to pay their fair share. Economics & Finance [The Case for a Higher Minimum Wage]( [Daron Acemoglu]( points to strong empirical and symbolic reasons for raising the US pay floor after years of neglect. [America’s Stimulus Debate]( The Big Picture [America’s Stimulus Debate]( PS commentators consider the merits of President Joe Biden’s proposed $1.9 trillion economic rescue plan. Economics & Finance [Pulling Up the Inflation Anchor]( [Robert J. Barro]( worries that reckless policies could undo decades of hard-won gains by monetary policymakers. Economics & Finance [Resetting US-China Trade Relations]( [Anne O. Krueger]( urges the Biden administration to raise contentious issues at the WTO instead of making bilateral demands. [An Interview with Ruth Ben-Ghiat]( Say More [An Interview with Ruth Ben-Ghiat]( [Ruth Ben-Ghiat]( suggests how the Biden administration can combat democratic erosion, highlights the international nature of white supremacy, and more. Economics & Finance [Winners and Losers in the Digital Transformation of Work]( [Michael Spence]( explains why we should worry less about technological unemployment and more about inequality. Economics & Finance [America’s Excessive Government Spending Must Stop]( [George P. Shultz]( [John F. Cogan]( and [John B. Taylor]( argue that US policymakers' fiscal recklessness is creating grave economic and national-security risks. [If Wealth Is Justified, so Is a Wealth Tax]( From the Archive [If Wealth Is Justified, so Is a Wealth Tax]( [Katharina Pistor]( calls into question billionaires' entitlement to full ownership and control of their accumulated fortunes. [PS. Purchase a PS gift subscription for friends and family. Act now.]( 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. This newsletter is a service of [project-syndicate.org](. © Project Syndicate, all rights reserved. [Unsubscribe from this list](