Against the bleak techno-authoritarian futures now being sold to us, a radical new vision for global progress in the 21st century feels urgently needed. The most credible vision is one in which the habitability of the planet is a precondition for human development and equality. Our new report examines the conditions required for the world to progress towards this ambition on an economically and ecologically compatible path, by the end of the century. Its conclusion? A global transformation that reconciles planetary habitability and high standards of wellbeing for all is possible – as long as three conditions are simultaneously met. Fast decarbonisation of energy systems is necessary. But we also need a major shift away from overconsumption towards “sufficiency”. This would involve a sharp reduction in labour hours and the use of raw materials, along with big changes in consumption patterns, food habits, land use and forest cover. Financing and politically sustaining decarbonisation and sufficiency will require a drastic reduction in inequality of income, wealth and power, between countries and within them. This reduction of global inequality is compatible with deep decarbonisation; indeed, it is a necessary condition for shared prosperity on a finite planet.

The standard view of housing markets holds that the flexibility of local housing supply— shaped by factors like geography and regulation—strongly affects the response of house prices, house quantities and population to rising housing demand. However, from 2000 to 2020, we find that higher income growth predicts the same growth in house prices, housing quantity, and population regardless of a city’s estimated housing supply elasticity. We find the same pattern when we expand the sample to 1980 to 2020, use different elasticity measures, and when we instrument for local housing demand. Using a general demand-and-supply framework, we show that our findings imply that constrained housing supply is relatively unimportant in explaining differences in rising house prices among U.S. cities. These results challenge the prevailing view of local housing and labor markets and suggest that easing housing supply constraints may not yield the anticipated improvements in housing affordability.

When we are preoccupied by poverty, “we have less mind to give to the rest of life.” Poverty does not just deprive people of security and comfort; it siphons off their brainpower, too.

A higher minimum wage is an antidepressant. It is a sleep aid. A stress reliever. Vocal segments of the American public, those with brain space to spare, seem to believe the poor should change their behavior to escape poverty. Get a better job. Stop having children. Make smarter financial decisions. In truth, it’s the other way around: Economic security leads to better choices.

Somehow, the United States has the unique distinction of lacking universal healthcare while still having the most expensive healthcare system in the world.

“All will come in time, my dear,” said his mother; “a good son makes a good husband.” “And a very loving papa,” said Mr. Malcolm. “Oh, spare me, sir,” said poor Charles; “how have I deserved this?”

It is a life of poverty and communion that, like the first Christian community, prefigures a new world: one in which the unity and equality hidden beneath the divisions of the present (race, nationality, gender) is realized.

Attacks on recently acquired rights will mean pain and suffering, especially for trans people and people of color. Once again, living the same kinds of lives as straight people may become less possible. Strange as it may sound, Newman’s very Catholic novel can help us glimpse what might be gained from these losses.

It seemed as if the kiss of his friend had conveyed into his own soul the enthusiasm which his words betokened. He felt himself possessed, he knew not how, by a high superhuman power, which seemed able to push through mountains, and to walk the sea.