Archive for September 5th, 2017

It may have been just a passing tweet, but President Trumps threat to cut off trade with all countries trading with North Korea tells us a lot about mercantilist thinking: The notion that because importers on net send money to exporters, they have all the leverage as though all of the benefits of trade flow in one direction. The worlds reaction to the bluff a combination of amused disbelief and terror at the economic implications demonstrates that trade is a symbiotic relationship: Buyers and sellers need each other.
When a consumer purchases an iPhone, it is because it…

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According to the New York Times, 564 million Indian citizens dont have toilets, indoor or outdoor. You read that right. Roughly half of Indias population goes without what Americans of all economic stripes take for granted, and that is standard (indoors) in any American apartment or house.
The countrys females are often forced to relieve themselves in groups each day, thanks to threats of sexual assault. Theres safety in numbers, apparently. Others either get up extra early, or wait until after dark in order to avoid being watched.
That Indians suffer toilet scarcity is…

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In possibly her last visit as Chairwoman to the Federal Reserves annual conference in Jackson Hole, Wyo., Janet Yellen decided to go out with a bang. Rather than the customary focus on monetary policy, she used her platform to ardently defend the regulatory response to the 2007-2008 financial crisis. Foremost was her avowal that the Dodd-Frank Act has boosted resilience without damaging the economy, cautioning that any attempted reforms to the legislation should be modest.
Predictably, critics have piled on to criticize Republican efforts to peel back the post-crisis regulatory web,…

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Not every day does an obscure scientific report directly help massive U.S. companies looking to cut costs, use natural resources more efficiently, and make sure their customers know about it. 

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On this Labor Day, the American middle class survives. Indeed, it’s expanding. That’s not the conclusion of some arcane scholarly study. It’s the judgment of Americans themselves, though it hasn’t received much attention from politicians or the media. Most Americans have moved beyond the fears bred by the Great Recession. The middle-class comeback may be the year’s most underreported story.
Public opinion polls depict the change. In its surveys, Gallup regularly asks people to report their social class. They are given five choices: upper class; upper middle; middle; working; and lower class….

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