Misha and John welcome to the podcast James Kraska, Charles H. Stockton Professor of International Maritime Law at the Naval War College, to discuss ways in which international law may hold China responsible for allowing the coronavirus pandemic to spread. Misha then discusses his recent article arguing that the Chinese Communist Party’s efforts to blame the world for the pandemic illustrates the beginning of a new Cold War between the U.S. and China.
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Articles
An interesting brouhaha has broken out in France, lately famous for reinvigorating the idea of wealth taxes: The French government should default on (“annul” “cancel” — the left is great at euphemisms) its debt held by the European Central Banks. Voilá. Disparu. Without any financial or economic cost!
August 24, 2026
Articles
The U.S. unemployment rate has trended down for decades. Estimates after removing business cycle fluctuations show that the trend rate fell from 7.8% in 1976 to 4.8% in 2024.
August 24, 2026
Articles
Money, power and security are intimately connected. For extended periods, the world’s financial center has been concentrated in one country, one city, one currency, providing in effect a code of conduct, whose most effective modern variants have been the nineteenth-century gold standard (1873–1914), the Bretton Woods system (1945–1971), and the international system around the so-called Washington Consensus (1980–2008). Each of these orders eventually frayed, and alternatives needed to be constructed. Concentration around a financial center yields powerful network advantages, but the historical record warns against treating any such arrangement as permanent. The emergence of rival centers has repeatedly been associated with heightened conflict, war, and destruction.
August 24, 2026
