We have never had it so good – and yet, according to Nobel laureate Joel Mokyr, the best may still be ahead of us. In the latest episode of Thought Supply, economic historian Mokyr sits down with Hans-Joachim Voth to discuss what centuries of technological change can teach us about artificial intelligence, economic growth, and the future of human progress.

Ernst Fehr has always seen what others missed – the connections between disciplines, the institutions that research needs to thrive, and the partnerships that make lasting impact possible. As he celebrates his 70th birthday, the UBS Center takes this as an opportunity to highlight a career that has shaped behavioral economics as a field, and Zurich’s Department of Economics as a world-class institution. Explore a selection of work, conversations, and tributes that reflect the breadth of his contribution.

Contracts are the backbone of the economy. Ideally, they ensure reliability and facilitate social interaction. Nevertheless, contracts have long only played a minor role in economics. Oliver Hart changed that—and was awarded the Nobel Prize in Economics for his work in 2016.

Twenty years ago, Ernst Fehr and colleagues provided groundbreaking evidence that the hormone oxytocin can increase trust between strangers. Later studies produced mixed results, leaving the question unresolved. Now, the findings resolve a 20-year scientific debate plagued by mixed results and small sample sizes. This research is important because it debunks the simplistic trust hormone myth, proving that biological mechanisms depend heavily on an individual's initial psychological profile.

The WTO needs updates in four areas: giving developing countries a better deal through genuine reciprocal bargaining; setting clearer boundaries around state involvement and security justifications; preventing environmental policies from becoming disguised trade barriers; and keeping digital markets open as technology evolves.