The Talent Equation

March issue of Finance and Development magazine is out now

Sponsored by International Monetary Fund

March 12, 2025

Finance and Development spring cover and the text "Download the magazine FREE"

The economics of talent, an emerging field, highlights that smart policies focused on helping people realize their potential can change the game for entire societies.

Talent is one of the world’s most valuable resources, driving innovation and growth. Countries that develop the brightest minds gain a competitive edge. The next transformative idea—a cure for a disease, a revolutionary technology—could come from anywhere. But that’s only if the right minds are given an opportunity to reach their full potential. The March issue of Finance and Development (F&D) magazine explores the economics of talent.

Below are a few highlights (or read the full issue here).

The Talent Equation
Ruchir Agarwal and Patrick Gaule open by explaining that the emerging “economics of talent” field aims to identify and nurture exceptional problem solvers at an early stage. The goal is to provide a road map for spurring innovation and unlocking progress on the world’s toughest challenges, from climate change to public health.

A Place for Human Talent in the AI Age
Marina M. Tavares explains that artificial intelligence (AI) is redefining what it means for humans to excel by limiting some human roles while making others more accessible. In this article, she explains that the challenge for policymakers is to create conditions that will allow AI to enhance human potential.

The Right to Dream
Andreas Adriano interviews Brazil’s rising political star Tabata Amaral, who won her first medal in the public-school mathematical Olympiad at age 11 and went on to study astrophysics at Harvard University. After rising from poverty to parliament, Amaral wants future prodigies to succeed because of policies rather than luck.

Innovation’s Unseen Frontier
In this article, Xavier Jaravel counts the societal costs of “Lost Einsteins” and “Lost Marie Curies.” Learn how democratizing innovation can harness untapped talent and spur economic growth.

Published quarterly, F&D provides cutting-edge research and analysis of key economic, finance, and development issues such as climate change, globalization, and digital currencies. You can find op-eds, interviews with leading figures in economics, book reviews, and online-exclusive content.

Finance and Development is distributed free of charge—subscribe today!

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Jodi Fortino writes: “Some Lee’s Summit (Mo.) School District Board of Education members said they’ve heard from parents concerned about what content their children can access in school libraries. Starting this month, parents can place their student on a restricted checkout status. Parents can call their school’s librarian and list up to 20 titles that their student won’t be able to check out. School librarians said they received 89 formal reconsideration requests in the 2022–2023 school year, but none of them came from parents whose children had checked out a book.” No requests were received in the 2023–2024 school year.

KCUR-FM (Kansas City, Mo.), Mar. 10
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Jeffrey Brainard writes: “The US Department of Agriculture (USDA) on Friday told staff members it has canceled subscriptions carried by its National Agricultural Library as part of a drive by President Donald Trump’s administration (and its Department of Government Efficiency) to cut federal spending. The move appears to drop nearly 400 of the library’s roughly 2,000 journals, including many prominent in various agricultural subfields—but curiously none from the world’s three largest scientific publishers, all of which are for-profit. Most of the affected publishers are university or nonprofit scientific society presses. USDA staff members depicted the move as hasty, indiscriminate slashing.”

Science, Mar. 17
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Amanda Rogers and Dianndra Roberts write: “Neurodiversity is the natural variation in human neurological functioning. Approximately 15%–20% of the global population is neurodivergent. Organizations that do not actively include and support neurodivergent individuals risk missing out on exceptional talents and undermining employees’ ability to work to their full potential. Workplace practices that support diverse working styles can build a positive and supportive environment without enforcing neuronormativity. By fostering an inclusive environment that values different ways of thinking, organizations can drive innovation, enhance problem-solving, and improve overall team performance.”

The Scholarly Kitchen, Mar. 17
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Dawson Damico writes: “For nearly 80 years, Iberia Parish (La.) Library has offered services to the public. It is now on the verge of closing down if a reduced millage renewal is not passed in the March 29 election. Last year, the renewal failed to pass, making this year’s election vital for the future of the system. It will be at a reduced rate from six mills to 4.5 mills. All libraries in the system are [currently] operating off a reduced balance of $3.3 million. If [the millage is] not passed, Hills said the funds will be depleted by March 2026.”

KLFY-TV (Lafayette, La.), Mar. 12
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Ian Trawinski, Lisa Picker, and Andrea Berstler write: “Makerspaces are commonly expected to host a younger demographic, while libraries are thought of as a space mostly visited by older generations. [But at] Carroll County (Md.) Public Library’s Exploration Commons, we have found that our makerspace is enjoyed across all generations. In fact, we have found that the customers who most take advantage of the tools and programs supplied by Exploration Commons, in ways we had not anticipated, are seniors. Exploration Commons regularly hosts programs designed to help ease seniors into learning how to operate the equipment available in this makerspace.”

Information Technology and Libraries, Mar. 17
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Alan S. Inouye writes: “On the evening of March 14, President Trump launched an assault on libraries by signing an executive order titled Continuing the Reduction of the Federal Bureaucracy. The president cannot fully eliminate the Institute of Museum and Library Services without congressional approval, but his order takes every possible step in that direction. The good news is that there is a groundswell of opposition to Trump’s order. Since ALA’s March 15 statement, more than 55,000 messages have been recorded and sent to Congress members through ALA’s action center. In addition to grassroots advocacy, ALA is opposing the executive order in a number of ways.” ALA has published an FAQ to help library workers, advocates, and users understand the order.

AL: The Scoop, Mar. 19; ALA Public Policy and Advocacy Office, Mar. 18
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Hannah Weinberg writes: “Since President Trump retook office on January 20, libraries and librarianship have been assaulted via executive orders and other actions. While the legality of many of these actions is still being decided by the courts, librarians, archivists, and other information professionals have been working through the confusion to preserve access to information. Below are several examples of the challenges libraries have faced over the past two months and the ways in which librarians and advocates have responded—and continue to respond.”

American Libraries Trend, Mar. 19