In this issue:

01 FROM THE PRESIDENT Mary Morgan contributes a Letter from the RES President

02 LETTER FROM AMERICA Daron Acemoglu uses theory old and new to question optimism on AI and growth

06 MACRO MODELS Franck Portier writes about some new developments in macroeconomics

09 NEW HISTORIES Three historians of economics on recent historical accounts of macroeconomics

12 CODE OF CONDUCT Joe Grice reports on the RES Code of Conduct and what a recent survey has revealed

14 PROFILE In our latest profile we put our questions to Denise Osborn

16 READING… How Milton Friedman changed direction, by his biographer Jennifer Burns

20 BANK FAILURES Martin Hellwig argues that the bank failures of 2023 were not simply bank runs

22 OBITUARY An obituary and tribute for Tony Thirlwall, by colleagues at the University of Kent

24 WOMEN’S COMMITTEE A report celebrating an eventful year for the UK Women in Economics Network

26 NEWS AND EVENTS A round-up of RES news, including the 2024 RES Medal for Services to the Economics Profession

28 THE ECONOMIC JOURNAL The editors of The Economic Journal report on another successful year for the journal