The Japanese economic system violates many of the basic principles of the Adam Smithian economics. Instead of crying “foul”, maybe we need to learn how and why Japan’s model works.
Economic Policy
Posted inEconomic Policy
Confessions of an Airline Deregulator
They were sure deregulation would unleash fierce competition, produce better service, and result in lower prices. Five of six assumptions turned out to be wrong.
Posted inMoney, Politics, and Power
Liberalism After Socialism
Some have long wanted to blend socialism and liberalism in a “third way”; that idea is now in ruins. But the alternative to a socialist liberalism need not be conservative. There is a liberalism that is serious, realistic, and where necessary even ra
Posted inWorking in America
The Myth of the Coming Labor Shortage
According to the Department of Labor, the demand for higher skills is rising rapidly, while the “quality” of America’s workforce is declining. Neither assertion is true, but the mythology is steering policymakers in the wrong direction, away from eff
Posted inWorking in America
A New Picture of The American Economy
What really ails the American economy? Many economists blame stalled productivity—without understanding it. A new analysis suggests that prosperity depends on success in key industries significant in international trade.
Posted inAmerica and the World
Shock Absorber: Stabilizing World Oil
In the wake of the Gulf War, now is the moment to create a new framework for oil—and for international economic security.
Posted inLaw and Justice
The Flawed Vision: Deregulation and Public Choice
The theory of “public choice” tells us that the public cannot make intelligent choices about government. But deregulation is as much a choice as activism.
Posted inEconomic Policy
The Private Use of Public Life
Last December, a public interest group called the Center for Public Integrity published a unique analysis of the Office of the U.S. Trade Representative (USTR), titled “America’s Frontline Trade Officials.”* The center used a wide variety of government documents, newsletters, press clips, directories, and other sources to piece together the career paths of mid-level and […]
Posted inEconomic Policy
Why Save the Banks? The Ambivalent Liberal’s Guide to Reform
Liberals may find it difficult to muster sympathy for bankers, but there are compelling reasons to strengthen banking. Reforms should help restore the banks’ profitability, while coupling new powers with stronger supervision to curb abuses.
Posted inEconomic Policy
Can Business Beat Bureaucracy?
Attacks on bureaucracy have typically come from outside the corporate world; now they are coming from inside it. Are the business critics and reformers serious? Is American business really undergoing an internal transformation?
