Mr. President, War Is Not Peace

Nobel-War-Prize

Lofty rationales easily tell us that warfare is striving for the noble goal of peace. But the rationales scarcely intersect with actual war. The oratory sugarcoats the poisons, helping to kill hope in the name of it.

The Fed and Authoritarian Capitalism

greenspan

Chinese authoritarian capitalism, on display this week in Beijing, has me thinking about America’s democratic capitalism and how we practice it. Start with the U.S. economy’s most powerful government agency: The Fed, of course. Its decision this week to hold short-term interest rates steady was wrong, in my view; it should have lowered them because [...]