The war is deeply unpopular, and the spike in oil prices will mean long-term high prices across the board for Americans

Donald Trump is still high on the capture of Nicolás Maduro. The easy abduction of the Venezuelan president didn’t just grant Trump control of the nation’s oil and critical minerals resources. It allowed him to throttle the government of Cuba by denying it access to energy, raising the tantalizing prospect that he might bring down a communist regime that has annoyed Washington since 1959.

Trump is confident that his joint venture with Israel in Iran will do just as well. The barrage of Iranian missiles and drones aimed at Israel and Iran’s Arab neighbors has done nothing to change Trump’s mind that he can win, regardless of how he defines “winning”.

From Gates to Musk and Altman, today’s ultra-rich steer AI and tech, raising questions about who decides the future

When Bill Gates became the first modern IT mogul to reach the apex of wealth and power in 1992, the world was a very different place. Gates joined the top 10 on Forbes magazine’s billionaires list alongside Japanese, German, Canadian, South Korean and Swedish billionaires, including those with family fortunes from Britain and America. A broad mix of industries was on the list: Retail and media, property management and packaging, an investment firm and a couple of industrial conglomerates. Their fortunes almost added up to $100bn – equivalent to about 0.4% of the US’s GDP that year.

The oligarchy has changed drastically since then. Bernard Arnault, of French luxury group LVMH, Amancio Ortega, the Spanish clothing mogul, and Warren Buffett, the US investor, were the only old-school billionaires among the top 10 in 2025. The rest largely made their money from high-tech: Elon Musk, Jeff Bezos, Mark Zuckerberg, Larry Ellison, Steve Ballmer and Google’s Sergey Brin and Larry Page. The top 10 amassed over $16trn, which is about 8% of US GDP.

Amid talk of artificial intelligence taking our jobs, the big unasked question is: how will we be fed?

How will we be fed? That’s the biggest question not seriously being addressed amid all this talk about whether or not artificial intelligence will end up taking over all of our jobs.

Formidable though the technology appears, similar fears have popped up repeatedly since the Industrial Revolution, and most working-age adults remain employed. Still, what is sorely missing is a serious debate about what to do if this future in fact materializes.

In the world being ushered in by Trump, power will prevail over cooperation. We will come to rue having taken this path

The Canadian prime minister, Mark Carney, inspired a wave of enthusiastic nodding among the cosmopolitan crowd gathered in Davos last month when he took to the podium and proclaimed that the world order underwritten by the United States, which prevailed in the west throughout the postwar era, was over.

The organizing principle that emerged from the ashes of the second world war, that interdependence would promote world peace by knitting nations’ interests together in a drive for common security and prosperity, no longer works. The US blew it up.

The decision adds to economic uncertainty, as deals Donald Trump struck with other countries are upended

It is refreshing to witness the US supreme court recover its spine and stand up to Donald Trump’s most extreme caprices. The 6-3 decision on Friday to strike down his barrage of tariffs on imports from virtually everywhere based on the preposterous argument that they addressed national emergencies will reassure the world that the US’s system of government – based on the separation of powers, checks and balances, and the rule of law – has not collapsed entirely.

But let’s hold the (imported) champagne. The court’s ruling will not restore the United States to its former place as a reasonable, trustworthy player in the world economy. The rules-based economic architecture that underpinned the integration of the world economy over the decades that followed the second world war remains fractured. Trump is still intent on its disintegration. And he retains power to do so.

Despite the US’s economic success, income inequality remains breathtaking. But this is no glitch – it’s the system

The Chinese did rather well in the age of globalization. In 1990, 943 million people there lived on less than $3 a day measured in 2021 dollars – 83% of the population, according to the World Bank. By 2019, the number was brought down to zero. Unfortunately, the United States was not as successful. More than 4 million Americans – 1.25% of the population – must make ends meet with less than $3 a day, more than three times as many as 35 years ago.

The data is not super consistent with the narrative of the US’s inexorable success. Sure, American productivity has zoomed ahead of that of its European peers. Only a handful of countries manage to produce more stuff per hour of work. And artificial intelligence now promises to put the United States that much further ahead.