WASHINGTON -- President Trump's education in global trade continues. Not long ago, he declared that trade wars "are good and easy to win." He knows better now. The administration's performance in its latest trade talks with China has been ineffectual, instructive and (yes) humiliating.
Let's be clear. China is the one major country where an ...Read more
WASHINGTON -- We flatter ourselves into thinking that we live in a time of exceptional economic upheaval. The truth is that the present resembles the past. What we learned -- and forget -- is that a dynamic economy is inherently destructive. But the periodic convulsions often create long-term benefits. That has been true for most of our history....Read more
WASHINGTON -- The world is not ready for another financial crisis, but another financial crisis may be ready for the world.
OK, the odds of this are long. Still, they're not nonexistent. The history of modern financial crises is that, originating in obscure corners of the financial system, they are initially ignored because they seem innocuous ...Read more
WASHINGTON -- It must be obvious to almost everyone by now that the Trump administration's trade policies, though involving less melodrama than relations with North Korea and Iran, threaten to do enormous harm to America's foreign policy -- and to the United States.
I use the word "threaten," because we don't yet know whether President Trump ...Read more
WASHINGTON -- Sen. Bernie Sanders, I-Vt., wants the federal government to guarantee a job for every American willing and able to work. The proposal sounds compassionate and enlightened, but in practice, it would almost certainly be a disaster. The fact that it's taken seriously is evidence that many Democrats, like Republicans before them, ...Read more
WASHINGTON -- We now have a new paper from economist Robert J. Gordon of Northwestern University that seeks to answer a great puzzle of our time: "Why has economic growth slowed when innovation appears to be accelerating?" In the process, Gordon illuminates a dispute between the Trump administration (which thinks growth can be increased) and its...Read more
WASHINGTON -- No doubt about it: Health care is a vexing political problem.
There's a contradiction at the core of our thinking. We want the best care when we or loved ones get sick. It's a moral issue. There should be no limits on treatment. But the resulting uncontrolled health spending harms the country. It undermines other priorities -- ...Read more
WASHINGTON -- As we mark Earth Day this week, it's natural to ask: What do Americans think of global warming? Is it a big worry? Is government doing enough? The answers seem conclusive but, on closer inspection, are frustrating. They reveal the limits of public opinion surveys in judging public opinion.
Karlyn Bowman and Eleanor O'Neil, the ...Read more
WASHINGTON -- The global economy is on the mend -- but will the recovery be quashed by too much worldwide debt?
Just last week, the International Monetary Fund raised its forecast for world economic growth to 3.9 percent for both 2018 and 2019. Most advanced societies -- the United States, Japan, Europe -- grew faster in 2017 than expected, and...Read more