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Featured

Sumner On China; Trade In Ideas

by John H. Cochrane via Grumpy Economist
Wednesday, December 5, 2018

Scott Sumner, also reviewing Summers on China, makes a few excellent points. Growth comes from within. Trade is not conquest.

In the News

A Sensible Government Knows When To Back Off: Raghuram Rajan

featuring Raghuram Rajanvia Quartz India
Tuesday, December 4, 2018

India’s former “rockstar central banker”, Raghuram Rajan, has a word of advice for the Narendra Modi government in the backdrop of its strained relations with the central bank: “the sensible government knows when to back off.”

Featured

Law’s Attrition, Virtue’s Abnegation

by Adam J. Whitevia Yale Journal on Regulation
Tuesday, December 4, 2018

In September, I was one of several scholars invited to give some short remarks on Adrian Vermeule’s controversial and challenging book, Law’s Abnegation, at the Villanova Law School. After I posted my remarks to a personal web site, Professor Chris Walker very kindly invited me to cross-post them here.

Analysis and Commentary

Summers On China

by John H. Cochrane via Grumpy Economist
Tuesday, December 4, 2018

Larry Summers has a good Financial Times oped on the same subject, titled "Washington may bluster but cannot stifle the Chinese economy." He puts well the point of my previous post: At the heart of the US’s problem in defining an economic strategy towards China is the following awkward fact. Suppose China had been fully compliant with every trade and investment rule and had been as open to the world as the most open countries at its income level.

In the News

Qualcomm, NXP Gain As Trade Truce Lights A Fire Under Stocks

featuring Raghuram Rajanvia Barrons
Monday, December 3, 2018

Truce! China and the U.S. agreed to go to the negotiating table before additional tariffs hit products bound for the U.S. That’s the good news. The bad news is they have three months to work out a deal. The Wall Street Journal reported that Chinese officials would also consider the previously unapproved merger between Qualcomm (ticker: QCOM) and NXP Semiconductors (NXPI).

In the News

Government Has Its 'Eyes Wide Open' On China: Winston Peters

mentioning Hoover Institutionvia RNZ
Tuesday, December 4, 2018
The government has its eyes wide open when it comes to China, Acting Prime Minister Winston Peters said.
In the News

Review: ‘The Hello Girls’ Answered the Call In World War I

mentioning Elizabeth Cobbsvia The New York Times
Tuesday, December 4, 2018

The predicament was dire. Otherwise, they never would have called in the women. Fighting in France in World War I, the United States Army was having trouble with the phones. With speed essential in the dispatch of information, calls weren’t getting through fast enough.

In the News

1 Big Thing: Tough-On-China, Mainstream Edition

quoting Larry Diamondvia Axios
Tuesday, December 4, 2018

As President Trump enters a tough new phase in his hardline offensive against China, he now has allies he lacked in his other high-profile attacks on the status quo — the establishment. Unlike his attacks on NAFTA, immigrants, climate science and Obamacare — which triggered denunciation by critics in and outside the U.S. — Trump finds himself in the embrace, if conditional, of mainstream experts when it comes to China.

Analysis and Commentary

David Warsh On Adam Smith

by David R. Hendersonvia EconLog
Tuesday, December 4, 2018

I’m reading and enjoying David Warsh’s Knowledge and the Wealth of Nations. I hadn’t read it when it came out, but I need to now to write the Paul Romer bio for The Concise Encyclopedia of Economics. Warsh, who was a long-time economics columnist for the Boston Globe, is an excellent writer. Not many people can write a 300+ page book about economic thinking that is a suspenseful page turner. Normally I hate suspense in non-fiction writing; I want the author to tell me the damn point in the first few pages. But Warsh has succeeded in keeping me reading.

Analysis and Commentary

The Upside Of Facebook

by David R. Hendersonvia EconLog
Tuesday, December 4, 2018

Many people have been critical of Facebook in the last few years and many of the criticisms have been justified. It often does bring out the meanness in people when they comment on political events or on other people. But Facebook has a huge upside also. I experienced it from late Saturday to now. The upside is that it allows people to express their sympathies to a person when something bad happens to him or his loved ones.

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