The Economist explains

What the Inflation Reduction Act has achieved in its first year

Big investments in green energy and health care have gone unnoticed by most Americans

President Biden speaks to an audience, at electrical equipment manufacturer Ingeteam Inc., about Bidenomics.
Image: Getty Images
|4 min read

PRESIDENT JOE BIDEN has conceded that the name was a mistake: the success of the Inflation Reduction Act (IRA), his flagship legislation, should not be measured by its effect on inflation. These days the IRA is most often associated with decarbonisation—that is, by the few Americans who know about it. Mr Biden hopes to be re-elected next year, and this week he and his administration marked the anniversary of the IRA’s passage by touring the country to tout the benefits it has brought. What impact has the law actually had?

Ukrainian drone operator works to correct artillery fire in the city of Bahkmut.

How drones and video-game techniques are coming together in Ukraine’s war

The idea of the body count evolves

Blue sky, mountainous landscape in the background, with a rope bridge over the Indus River. A motocyclist is crossing the bridge.

Why are India and Pakistan fighting over water?

After terror attacks India has suspended a water-sharing treaty 


A destroyed Russian tank sits on a roadside near the town of Sudzha, Ukraine

How will mines dropped by drones change warfare?

They make attacks on tanks more precise and troops easier to trap


What do Greenlanders think of being bought?

Donald Trump’s desire for Greenland, and a shabby visit by his son, reignite the independence debate

What would Donald Trump gain from seizing the Panama Canal?

The president-elect claims the crossing is controlled by China and rips off American consumers

Where does Santa come from?

How a miracle-working Greek bishop, Dutch folk figure and early New York icon became the ubiquitous symbol of Christmas