What Krugman Gets Right and Wrong on Trade Surpluses
Krugman’s recent NYT column on Russia features commentary on trade surpluses that is at best very misleading.
Krugman’s recent NYT column on Russia features commentary on trade surpluses that is at best very misleading.
The greatness of the nineteenth century consisted in the fact that to some extent the ideas of classical economics became the dominant philosophy of state and society.
Vladimir Putin (not unlike President George W. Bush) has led his country into a destructive war, yet the Russian political leadership enjoys wide public support.
Results, not process, are the measure of success.
The African Continent Free Trade Area has the potential to serve Africans and bring about better living standards. However, it is threatened by government attempts to "manage" trade.
The proabortion centralist line of "accept our definition of human rights, or else" is what we'd expect from the imperialists of old who claimed the "savages" in the colonies couldn't be trusted with self-government.
Standard Keynesian theory posits that if the economy slows, government can revitalize it by increasing spending, which supposedly creates new demand. But government can't create something from nothing.
Mass shootings are bad enough, but progressives have turned them into political events. They then claim that further politicizing these tragedies will reduce their number.
Ignorant politicians who create no wealth can only impede great visionaries like Henry M. Galt from creating wealth with monetary chicanery, antitrust litigation, labor laws, and other regulatory measures.