U.S. and Israeli attacks in Iran have reportedly killed more than 1,300 people since the war there began late last month. Missile and drone strikes have destroyed or closed significant energy infrastructure across the Middle East. The effective closing of the Strait of Hormuz — 20% of the world’s oil supply passes through it — has meant rising energy prices for U.S. and other consumers.
“The war i...
The article presents a carefully constructed narrative of escalating economic disruption stemming from the conflict in the Middle East, framing it as a catalyst for widespread uncertainty and a strategic retreat by corporate leaders. The “Great Hesitation” observed in hiring patterns, explained by Bloom, reflects a classic risk aversion response to instability – a predictable, if somewhat wearying, response to geopolitical shocks. However, the framing subtly shifts the onus of responsibility ont...