Let’s give Edward Snowden his due: He did himself a lot of good in his interview with NBC’s Brian Williams, which aired last night. He presents well, coming across as earnest, thoughtful and intelligent.
Today starts a two day conference at Stanford’s Hoover Institution on monetary policy. It’s part of the Fed Centennial. Here is the full agenda which includes talks and commentary by Esther George, Tom Sargent, Charles Plosser, John Williams, Jeff Lacker, Ed Prescott, Allan Meltzer, Niall Ferguson, Maury Obstfeld, Barry Eichengreen, George Shultz, Monika Piazzesi, Athanasios Orphanides, Otmar Issing, Martin Schneider and others.
The only thing that is predictable in warfare is its unpredictability. As soon as experts, general staffs, and politicians decide what they believe will be the nature of the next war in order to prepare for it properly, an entirely different kind of conflict happens. The witness of history is so uniform in this regard that it needs to become a general law of warfare: The war we expect and plan for is never the one we’re called upon to fight.
Kharkov. Dnepropetrovsk. Odessa. Mariupol. Sites of great armor battles seven decades ago, these cities are once again the front line of war. Tanks are massed but remain idle. Protesters, separatists, and “little green men” are the foot soldiers in the conflict between Russia and Ukraine. Snipers are the most effective weapons. Ukraine may fall to this “invasion” more easily than to an armored assault. Is this quasi-war the ultimate proof of the irrelevance of conventional forces today?
In his magisterial treatise On War, Prussian military philosopher Carl von Clausewitz wrote that war may have its own grammar, but not its own logic. By this he meant that wars are fought for political purposes, and although the means by which they are waged changes over time, the nature of war remains constant. History has witnessed a number of revolutions in military affairs, periods of time in which the grammar of war has changed significantly.
That's the question again on the minds of those who care about Israel, the Palestinians—and America’s interests in the Middle East—following the April collapse of Secretary of State John Kerry’s well-intentioned if quixotic attempt to reach a final status agreement between Israel and the Palestinians.
This is a transcript of an interview with George Shultz, the U.S. Secretary of State under President Ronald Reagan. This interview is part of The Daily’s “Ideas of an International Order” series, running from April 27-30, 2014, which explores the potential for evolving and contrasting concepts of an international system in the 21st century, and what America can or should do in response.
The U.S. economy fares best when the Federal Reserve adheres most closely to traditional policy rules, according to new research that suggests the recent period of unusually low interest rates may be doing more harm than good.
MENLO PARK, CALIF. (MNI) - Former Richmond Fed director of research Marvin Goodfriend also calls for a new Fed-Treasury accord, limiting the Fed to a "Treasuries-only" portfolio and limiting broader Fed lending that he says verges on fiscal policy.
I was raised in a Hoover household. By the time I came along in 1944, Herbert Hoover had already begun to reclaim the respect of many Americans, despite the vilification he had suffered at the hands of the New Deal propaganda machine.
Due to their sensitivity, Saudi contacts with Israel have historically been conducted behind closed doors. When they become public knowledge, they are bound to generate sensational stories in the kingdom. In the past, such contacts used to be denounced by almost all Saudis, but not anymore.