Donald Trump has upended U.S. trade policy. The particulars include a U.S. pullout from the Trans-Pacific Partnership (TPP), threats to jettison the North American Free Trade Agreement, a refusal to affirm new WTO judges, tariff hikes on steel and other goods, frequent rhetorical attacks on major trading partners, and a wrong-headed obsession with bilateral trade deficits.
Three interesting links caught my attention today: 1) Prefab housing in Berkeley and Alex Tabarrok Commentary on Marginal Revolution. Imagine a four-story apartment building going up in four days, and from steel. It happened in Berkeley, a city known for its glacial progress in building housing.
There are those Russophobes who’ll forever be convinced that the American election system was compromised and the outcome altered in 2016 – and still others who believe the system is broken and in need of repair.
No, a currency board won't save the Lira, contra Steve Hanke's oped in the Wall Street Journal. Steve: Turkey should adopt a currency board. A currency board issues notes and coins convertible on demand into a foreign anchor currency at a fixed rate of exchange. It is required to hold anchor-currency reserves equal to 100% of its monetary liabilities,...
Physician David Meltzer of the University of Chicago talks about the power of the doctor-patient relationship with EconTalk host Russ Roberts. Meltzer, who also has a Ph.D. in economics, discusses a controlled experiment he has been running to measure the importance of maintaining the continuity of doctor-patient relationships. Meltzer argues that the increasing use of hospitalists--specialists who take over a patient from the patient's regular doctor once the patient is hospitalized--has raised costs and hurt patients.
A new study investigates whether teaching practices differ in effectiveness depending on the students in the class. It finds that the impact of good classroom management and student-centered instruction vary depending on whether the students in the classroom are of high ability or of mixed ability.
127 professional American historians have signed an open letter to Secretary of the Treasury Steven Mnuchin urging that he commit to plans previously announced to replace President Andrew Jackson on the front of the 20-dollar bill with Harriet Tubman, escaped slave turned abolitionist and Civil War military scout. The redesign was to be unveiled by 2020, the 100th anniversary of the vote for women.
Major technology and social-media companies— think Facebook, Apple, Microsoft, and Google— wield tremendous power. Given their reach, their financial heft, their importance to vast swaths of customers dependent on their goods, services, and platforms, and their ability to influence (if not altogether dictate) transnational public policy, these firms often look and act the part of proprietors, stewards, and even governors of digital public squares.
No, according to economist Jeffrey Rogers Hummel. In a recent email discussion one economist claimed that we should be wary of measuring a firm’s value by multiplying the number of the firm’s shares by the price per share.
One of the advantages of having been involved with free-market ideas for half a century (yikes—I’m getting old!) is that I’ve also become friends with people who were involved even longer, some famous, such as Milton Friedman, and some not famous, such as my mentor at the University of Winnipeg, Clancy Smith.
In 1932, the American electorate was surveyed in a poll that has languished in the archives. The survey was conducted by Houser Associates, a pioneer in market research. It interviewed face-to-face a representative cross section about voter choices and issue attitudes. Although conducted on behalf of the Hoover campaign, the poll was not biased in his favor.
Amazon’s hiring practices recently had a spotlight moment after a partner at the startup incubator, Y Combinator, tweeted about it. Their guiding principles for hiring are pulled from Amazon’s 1998 shareholder letter, in which Bezos argues that “setting the bar high in our approach to hiring has been, and will continue to be, the single most important element of Amazon.com’s success.”
So, recently the DA’s federal executive announced that, according to them, the policy of Black Economic Empowerment has failed and that it should be replaced by an alternative. Recently I have also read a book, written by Thomas Sowell, on the empirical facts and outcomes of affirmative action policies in the USA, Malaysia, India and Sri Lanka.
Experts generally agree that the Obama administration’s cyber-security policies were a mixed bag. Managing cyber-security was an extraordinarily difficult task, given the novel nature of the technology and the escalating degree of threat. The United States certainly conducted successful offensive operations under Obama, including the Stuxnet attack and possibly certain “left of launch” attacks on North Korean missile programs.
No other letters from Janet Jones exist about her service once she arrived in France. However, by looking at her service record and using information from author Elizabeth Cobbs’ book “The Hello Girls, America’s First Woman Soldiers” an accurate picture of what they did can be seen.