Articles
Articles and analyses from the INET community on the key economic questions of our time.
The AI Bubble and the U.S. Economy: How Long Do “Hallucinations” Last?
This paper argues that (i) we have reached “peak GenAI” in terms of current Large Language Models (LLMs); scaling (building more data centers and using more chips) will not take us further to the goal of “Artificial General Intelligence” (AGI); returns are diminishing rapidly; (ii) the AI-LLM industry and the larger U.S. economy are experiencing a speculative bubble, which is about to burst.
Accounting for Ourselves: What Fedwire Tells Us About Fed Losses, Cost Recovery, and Risk
Without transparent accounting practices and proper risk management, the Federal Reserve’s current financial losses—unprecedented in scale—and the questionable accounting practices it uses to downplay their impact threaten public trust, economic stability, and the integrity of fiscal policy.
Can States Reinvent U.S. Healthcare? This Expert Thinks So.
Phillip Alvelda, a former DARPA program manager, reveals how a fracturing federal system has opened the door for bold state leadership. Will blue states rise to build a healthier, more just future?