October 2025- Recent EPS News and Publications
This collection brings together articles authored by or featuring affiliates of Economists for Peace and Security, exploring their insights and analysis on issues ranging from economic policy and labor markets to conflict, global justice, and the intersection of economics and peace.
Linda Bilmes
Costs of War Project: "Costs of United States Military Activities in the Wider Middle East Since October 7, 2023"
Summary: Linda Bilmes calculates the significant costs the United States has incurred since October 7, 2023 in a broad set of military actions in support of U.S., Israeli, and allied interests in the wider Middle East.
Just Security: “Book Release – Perpetual War and International Law: Enduring Legacies of the War on Terror”
Summary: Just Security and Oxford University Press have released Perpetual War and International Law: Enduring Legacies of the War on Terror, edited by Brianna Rosen, a new volume that gathers leading experts, including Linda Bilmes, to reflect on how the post-9/11 era has shaped contemporary conflicts and international law, while exploring ways to move beyond the paradigm of perpetual war.
Boston Globe: “Soft power delivers big returns, but Trump is slashing it anyway“
Summary: Linda Bilmes argues that recent cuts to U.S. funding for diplomacy, humanitarian aid, and global engagement ignore the substantial economic and strategic benefits of “soft power,” risking diminished American influence and competitiveness against rising powers like China—costs that far outweigh the supposed budgetary savings.
Mark Weisbrot
Newsweek: “Trump Military Attack on Venezuelan Boat Intends To Redefine War”
Summary: Mark Weisbrot argues that President Trump’s unprecedented use of military force—exemplified by the deadly strike on a Venezuelan boat—signals a dangerous normalization of illegal killings and assaults on the rule of law, both abroad and domestically, underscoring the urgent need for stronger public and political resistance before such tactics become entrenched.
Lloyd J Dumas
Foreign Policy Association: “A Candid Discussion with Lloyd J. Dumas”
Summary: In a discussion, Lloyd J. Dumas argues that true national security is best achieved not through military force but by fostering balanced, mutually beneficial economic and political relationships—what he calls a “peacekeeping economy”—which reduces incentives for conflict and addresses root causes of insecurity.
George Akerlof
Le Monde: “Tax on ultra-rich: 'France has the opportunity to lead the way”
Summary: In this op-ed, several Nobel Prize-winning economists argue that France has a unique opportunity to lead the way by implementing a tax on the ultra-wealthy, noting that billionaires currently pay disproportionately low effective tax rates compared to ordinary citizens due to legal tax avoidance strategies, and asserting that more equitable and just tax policies are both necessary and achievable through political will.
Axios: “ Scoop: 16 Nobel economists see a Trump inflation bomb”
Summary: Sixteen Nobel Prize-winning economists have publicly warned that former President Trump’s proposed economic policies—such as broad tariffs and fiscally irresponsible budgets—would reignite inflation and cause long-term harm to both the U.S. and global economies, while endorsing President Biden’s economic agenda as vastly superior.
Oscar Arias
Chatter that Matter: “Dr. Oscar Arias - Nobel Peace Prize Laureate - Two Times Costa Rican President“
Summary: Oscar Arias discussed his experiences when Central America was on fire, civil wars raged, and the United States and the Soviet Union armed opposing sides.
Sheila Bair
Financial Times: “Wall Street to trump Main Street with new bank rules”
Summary: Sheila Bair argues that proposed reductions in capital requirements for the largest U.S. banks would weaken financial stability, reduce lending to households and businesses, increase systemic risk, and unfairly disadvantage community banks, all without meaningfully supporting the U.S. Treasury market, and suggests that regulators should focus on easing burdens for community banks instead.
Jason Furman
Marketplace: “Marketplace Morning Report”
Summary: Jason Furman explains that the recent slowdown in U.S. job growth is driven mainly by reduced immigration rather than weak demand, warning that further Fed interest rate cuts may not boost hiring unless immigration policy is eased to address an aging, shrinking workforce.
Intereconomics: “Does Trump Know What He Wants from Europe or How to Get It?“
Summary: Jason Furman argues that President Trump’s ever-shifting and economically unfounded demands on Europe—ranging from trade deficit grievances to calls for dismantling the EU—make coherent negotiations nearly impossible, likely harming the U.S. more than Europe, and that the best European strategy is to pursue internal integration, economic reforms, and global diversification to emerge stronger regardless of U.S. actions.
James Galbraith
Institute for New Economic Thinking: “Labor Day 2025: The Great Crash (of the Economists)“
Summary: James Galbraith contends that, contrary to mainstream economic theories like the Goldin-Katz model, wages and hiring decisions are shaped more by macroeconomic conditions and politics than by supply and demand for skills, as illustrated by the current downturn in economist job prospects and persistently high salaries despite falling demand and no surge in supply.
The Nation: “The Trump Economy? Some Reagan Parallels“
Summary: James Galbraith argues that while there are surface similarities between Ronald Reagan’s early 1980s economic policies and those proposed for 2025 under Trump—such as tax cuts, spending reductions, and increased military outlays—the actual scale, context, and likely effects of today's measures are far less dramatic or immediate than those of the past.
Eric Maskin
AA: “US, European economists, including Nobel laureates, urge Israel to halt Gaza policies worsening starvation“
Summary: GPT-4.1 In an open letter, 23 prominent economists—including multiple Nobel laureates—urged Israel to immediately halt policies exacerbating starvation and plans for mass civilian relocation in Gaza, warning of severe humanitarian and economic consequences, and calling for restored aid, respect for human rights, and the pursuit of a ceasefire.
Eric Maskin and Roger Myerson
Newsweek: “Nobel Prize Winners React to Idea of Trump Winning Economics Award”
Summary: Multiple Nobel Prize-winning economists, including Eric Maskin and Roger Myerson, strongly dismissed the idea of President Donald Trump receiving the Nobel Prize in economics, emphasizing that the award recognizes scholarly contributions rather than economic policy, questioning the merits and impacts of Trump's trade agenda, and doubting he would ever be seriously considered for such an honor.
Robert Reich
Summary: Robert Reich, who recently retired from teaching at UC Berkeley, about the lessons he’s learned and taught, the influence of corporate power in America, and the ways in which wealth, poverty, and the widening income gap threaten our very democracy.
Amartya Sen
The Economic Times (India): “Amartya Sen raises concerns over SIR that risks 'disenfranchising' poor people”
Summary: Amartya Sen voiced concerns regarding the special intensive revision of electoral rolls, cautioning that it could disenfranchise poor and marginalized individuals if not handled carefully. He questioned the fairness of demanding strict documentation from citizens lacking access to it, emphasizing that procedural improvements shouldn't compromise fundamental rights.
Robert Skidelsky
Foreign Affairs: “Review ‘Mindless: The Human Condition in the Age of Artificial Intelligence“
Summary: This review describes Skidelsky’s book as a thoughtful exploration of whether technological progress liberates or endangers humanity, arguing that despite lofty promises, technology has often diminished freedoms and that only a turn toward social and spiritual values—not further technical advancement—can save human peace and security.
Joseph Stiglitz
Bloomberg News: “South Africa Forms G-20 Inequality Panel Chaired by Stiglitz“
Summary: South Africa has set up a panel, chaired by Joseph Stiglitz, to tackle extreme wealth inequality as part of its Group of 20 chairmanship.
About Economists for Peace and Security
Economists for Peace and Security (EPS) evaluates the economic impacts of security policies, and the security impacts of economic policies. We promote non-military solutions to world challenges, and more broadly work towards freedom from fear and want for all. Our Board of Trustees includes nine Nobel Laureates.