The world is facing multiple challenges at once, from heightened inflation to fragile economic growth, the COVID-19 pandemic, war in Ukraine, and threats to democracy. Economics professor Daron Acemoglu takes a look at each of these challenges, and what might be done to mitigate them.

As climate change devastates the environment, all mitigating means must be considered. Some countries have turned to carbon taxes, but not the world’s biggest emitters the US, China, and India, where political barriers prevent this. Environmental tariffs, however, could circumvent such obstacles and even more effectively achieve their aim via incentives.

The sway of the dinosaurs ended 66 million years ago when an asteroid crashed into Chicxulub in Mexico. If a similar asteroid were to crash into Earth today, it would cause another mass-extinction event. This should concern us now and in the coming century.