Nearly 100 days after US President Donald Trump took office, he and his commerce secretary, Wilbur Ross, continue to commit an economic fallacy that first-year economics students learn to avoid. They claim that America’s current-account deficit (or trade deficit), which is in fact the result of America’s low and falling saving rate, is an indicator [...]

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It’s time to end US military engagements in the Middle East. Drones, special operations, CIA arms supplies, military advisers, aerial bombings — the whole nine yards. Over and done with. That might seem impossible in the face of ISIS, terrorism, Iranian ballistic missiles, and other US security interests, but a military withdrawal from the Middle [...]

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At the core of a country’s global competitiveness is its ability to innovate. As economist Joseph Schumpeter observed in his classic “Capitalism, Socialism, and Democracy,’’ capitalism is characterized by waves of “creative destruction,” in which advances in technology create new industries while destroying old ones. Yet President Trump is putting America’s capacity to innovate at [...]

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Donald Trump’s revised executive order to bar entry to the United States from six Muslim-majority countries is the latest salvo in America’s epic culture wars over race and American identity. As a matter of national security and law, the policy makes no sense, as the US District Court for the District of Hawaii has made clear. Yet [...]

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March 3rd, 2017

The Three Trumps

NEW YORK – Never in recent history has a change of leadership attracted as much attention and speculation as Donald Trump’s rise to the US presidency. What this change signifies and what it portends requires unraveling three mysteries, because there are three versions of Trump. The first Trump is the friend of Russian President Vladimir [...]

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“When I met Jeffrey Sachs, an economist at Columbia University and the author of “The End of Poverty,” for coffee recently, he was stubbornly holding on to a sense of optimism in spite of a discouraging turn in world events. Sachs served as an adviser to Bernie Sanders during his Presidential campaign, and has published a new [...]

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