The Two Cents
Romain Wacziarg, Hanno LustigA space for musings on economic policy and political economy by Hanno Lustig and Romain Wacziarg
| Platform |  | Pricing | Only free issues | Publishes | Twice weekly |
|---|---|---|---|---|---|
| Issues | 12 | Subscribers | Read | thetwocents.substack.com |
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Latest Issues
Recent posts by this newsletter. Browse the email archive.
What about Japan? (Part II)
# The hidden tax: who actually pays for Japan’s cheap money
What about Japan? (Part I)
When I started working on fiscal sustainability in the US, and I started giving seminars on this topic, I noticed that there would always be an economist in the back of the room who’d raise his or her hand, occasionally with a big smile, an...
The Housing Affordability Paradox
Last year, on August 19 2025, the day before Powell was to give his annual Jackson Hole speech, the White House pressured Chairman Powell to lower rates. “Could somebody please inform Jerome ‘Too Late’ Powell that he is hurting the housing ...
Emptying Planet
On March 13, 2026, Paul Ehrlich, who was the Bing Professor of Population Studies at Stanford, died at the age of 93. He was a prominent biologist who made numerous significant contributions, but he was best known for his work on the dynami...
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Authors
The writers behind this newsletter.
Economist, Professor at UCLA, Editor of the Journal of the European Economic Association, Faculty Director of the Center for Global Management at UCLA Anderson.
Economist at Stanford. Fascinated by exchange rates. Really wanted to be a pilot. Actually, taxes do fund spending.
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