Plus Ca Change in Japan?

Last week was a good lesson in terms of what might, or what might not, happen when policy makers attempt to steer currency markets. Notwithstanding the obvious question of much how clout policy makers de-facto holds with respect to moving currency markets (not a lot I think), the outgoing finance minister in Japan . . . → Read More: Plus Ca Change in Japan?

How Leftist is India?

I wrote a column in Financial Express on Friday: How leftist is India?. This draws on the data shown in this previous blog post. I just noticed a piece in The Economist which dwells on related themes which is well worth reading.

Many people wrote me email about this piece. An important criticism of . . . → Read More: How Leftist is India?

Government Incentives to Inflate Debt Away

Two interesting quotes caught my eye in a recent Andy Smith note:

“We cannot stop terrorism or defeat the ideologies of violent extremism when hundreds of millions of young people see a future with no jobs, no hope, and no way ever to catch up to the developed world” Hillary Clinton, Remarks to the . . . → Read More: Government Incentives to Inflate Debt Away

Quibble, I Shall

Quoth Thomas Frank in The Wall Street Journal last week:

This was once a familiar line of criticism: Big business’s sin was that it wasn’t entrepreneurial enough. If given the opportunity, business would use government to form cartels and suppress competition. Free markets must thus be protected from the grasp of the corporate monster. . . . → Read More: Quibble, I Shall