Monday’s Wall Street Journal (July 10, 2017, page A2) contains a remarkable article. It is remarkable because it reveals the assumptions and attitudes of the experts who are trying to administer the global economy in which we find ourselves. The headline of the article provides the ...
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In my post from last week about central banks I argued that they are devaluing their currencies in a zero-sum game for stimulating their domestic economies at the expense of their trade partners. A recent piece by Jonathan Laing in Barron’s echoes some of the same points. Laing cites ...
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One of the first things that you learn about economic growth, if you learn anything at all, is that growth is not a zero-sum game. That is, when a company like Apple increases its earnings by 40% or so, as it did last quarter, it didn’t simply “take” those earnings from its ...
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