Review of Range by Richard Schulman David Epstein’s recently published book, Range: Why Generalists Triumph in a Specialized World (New York: Riverhead Books, 2019), provides an important corrective to Malcolm Gladwell’s 2008 book, Outliers: The Story of Success. Outliers argued that the road to great success begins with early commitment to a specialization and 10,000 […]
Relief, mixed reviews on Mexico tariff suspension
Trade correspondent L.C. reports: President Trump heeded his advisers’ advice to accept an agreement with Mexico rather than follow through on his widely criticized threat to increase tariffs on that country by 5% each month. The agreement merely reaffirms previous commitments to help stem the flow of Central American migrants through Mexico to the US. […]
The movie that should have won the foreign language Oscar
This year’s Oscar for the best foreign film went to Roma rather than a much more ambitious and thought-provoking German film, Never Look Away. Roma presumably won because it pulled all the right political strings in its sympathy for the suffering poor South of the Border. (Take that, Donald Trump!) Roma celebrates a warm-hearted Mexican […]
Modern monetary theory (MMT) and its Japan paradigm
John Greenwood and Steve H. Hanke have written (Wall Street Journal, June 5, 2019) what may be the definitive refutation of Modern Monetary Theory . MMT, the two authors explain, holds that “fiscal deficits don’t matter as long as countries borrow in their own currencies and inflation stays in check.” MMT is currently being promoted […]
Mexican tariff threat hurts diplomacy, lets Dems off hook
Trade correspondent L.C. reports: In one of his biggest trade surprises, President Trump announced on May 30th that he was invoking the International Emergency Economic Powers Act of 1977 to impose tariffs on all goods imported from Mexico. The tariffs will increase in monthly 5% steps until Mexico takes unspecified further actions to stem the […]
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