A solution to traffic jams breaks the investment jam.
America and the World
Posted inBooks
Domestic Urges, Foreign Obsessions
Constructive engagement with the post-Cold War world requires both a stronger America and clearer global goals. Domestic reconstruction must be a priority—but beware isolationism.
Posted inAmerica and the World
More Like Them?
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.
Posted inEconomic Policy
The Great Bargain
The next president of the United States either will lead the world into an era of unprecedented peace and growth, in which virtually all nations are knitted together into a seamless economic web, or will watch the world fragment into three trading blocs of advanced and rapidly developing nations, and a fourth vast territory — […]
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 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 inAmerica and the World
Collateral Gains
Even before the jubilation in Kuwait City died down — indeed, even before the Gulf War ended in a decisive allied victory — many who warned that the war would go badly were warning that the war’s aftermath would go badly. That is a safe prediction. No one has ever won a nickel betting on […]
Posted inAmerica and the World
Can the European “Social Market” Survive 1992?
What will happen to Europe’s high labor and environmental standards as the European Community creates its single continental market? The example of European regulatory federalism, bolstered by stronger political parties and trade unions, may be instr
Posted inCivil Rights in America
Citizen Kawasaki: Race, Unions, and the Japanese Employer in America
Some economists have hailed the new model of management and employee relations that Japanese corporations practice at home and are allegedly bringing to America. The story of Kawasaki isn’t so encouraging.