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Thomas Sowell discusses the newly revised edition of his book Discrimination and Disparities.

As a presidential tweet ended a stock market rally and instilled new doubt into the prospects for a U.S.-China trade deal, one prominent economist remained optimistic. While he held out the likelihood that Friday’s deadline for trade negotiations would pass without a deal, Raghuram Rajan, Chicago Booth Katherine Dusak Miller Distinguished Service Professor of Finance, also said that both the U.S. and China needed to create a stable, long-term agreement.

Nearly $50,000. About $60 per square foot. That is the city fee that a San Jose developer was asked to pay to obtain a permit to convert a recreation room in an existing apartment building into two small studio apartments. These “pay to build” schemes are now commonplace in California as municipalities face increasingly severe budget pressures and look to developers for the deep pockets that can fill in the gaps between municipal spending and tax revenue.

Raghuram Rajan recently had an opinion piece titled, Why Capitalism Needs Populism. He is on to something with that title.