Economics

Economics

South Africa's cautionary tale

It wasn't so long ago that South Africa was seen as the natural leader of its continent, with bright economic prospects and a nascent, post-apartheid democracy. It developed strong trade ties with China, and, in 2010, was named one of the BRICS countries — with Brazil, Russia, India and China, the economies seen by some investors (the term was coined by a Goldman Sachs executive) to be the era's dynamic up-and-comers. But it hasn't quite turned out that way. This year, South Africa dipped into recession, with unemployment near 30 percent. What happened?

Economics

What the rise of the gig economy means for the American Dream

The future of work in America is likely to be more flexible, possibly more precarious, for many people, as the gig economy expands. Why is this happening, how can more people thrive in this transition, and what does it mean for America's place in the world in this century? Economic historian Louis Hyman of Cornell University, author of "Debtor Nation" and "Borrow: The American Way of Debt," weighs in.