Tariffs that save jobs in the steel industry mean higher steel prices, which in turn means fewer sales of American steel products around the world and losses of far more jobs than are saved.
Elections should be held on April 16th- the day after we pay our income taxes. That is one of the few things that might discourage politicians from being big spenders.
What 'multiculturalism' boils down to is that you can praise any culture in the world except Western culture - and you cannot blame any culture in the world except Western culture.
Both free speech rights and property rights belong legally to individuals, but their real function is social, to benefit vast numbers of people who do not themselves exercise these rights.
Even the Soviet Union, with its huge nuclear arsenal, was a threat that could be deterred by the prospect of retaliation. But suicide bombers cannot be deterred. They can only be annihilated - preemptively and unilaterally, if necessary.
You don't send people to prison on the basis of what other people imagine, or on the basis of media sound bites like 'shooting an unarmed child,' when that 'child' was beating him bloody.
If you want to get each individual's honest opinion, you don't want that opinion to be influenced by others who are present, much less allow a group to coordinate what they are going to say.
Thanks to iCloud and other services, the choice of a phone or tablet today may lock a consumer into a branded silo, making it hard for him or her to do what Apple long importuned potential customers to do: switch.
I want to dive in the deepest trench, get locked in the darkest room, get lost in the biggest maze, travel longest to the furthest place but keep my heart on the safest place...
Fiscal decentralisation does not lead to higher economic growth because economic growth is much more driven by factors other than taxes and spending, e.g. increases in technological progress and improved human capital.
Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.
Philosophy is like trying to open a safe with a combination lock: each little adjustment of the dials seems to achieve nothing, only when everything is in place does the door open.
The problem with Mr. Obama is that you get more regulation and it's a disincentive for businessmen to hire people. You probably also get higher taxes, so in terms of the economy, he is very negative in my view.
I am surprised with the reelection of Mr. Obama. The S&P is only down, like, 30 points. I would have thought that the market on his reelection should be down at least 50%.
It was easy for the Democrats to attack the wealthy fat cats of Wall Street, the elite, and the privileged people - to portray them as a profiteer of the system, which to some extent, they are. Not because they wanted to, but because Mr. Bernanke ena...
If the Chinese bubble bursts one day, which inevitably will happen - maybe not tomorrow, maybe in three months, maybe in three years - when it happens, it will have devastating consequences for the global economy.
After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive.
Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar will mean that the increase in aggregate demand from this source may not happen for a year or more.
Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.
I have to live within my memories, within my private universe, and continually return to China, the land where my thoughts are locked. This is a very painful kind of existence, this feeling of nowhereness.
Everyone recognizes that's a joke because obviously the number and shape of the pieces doesn't affect the size of the pizza. And similarly, the stocks, bonds, warrants, etc., issued don't affect the aggregate value of the firm.
