The history of economics is largely a struggle between two opposing schools of thought, “liberalism” and “mercantilism.” Economic liberalism, with its emphasis on private entrepreneurship and free markets, is today’s dominant doctrine. But its intellectual victory has blinded us to the great appeal – and frequent success – of mercantilist practices. In fact, mercantilism remains […]
THE denouement of the fiscal-cliff drama, unsurprisingly, ended up with a vote that split Republicans in the House. John Boehner, Paul Ryan and 83 other GOP representatives joined 172 Democrats in voting to pass the compromise bill crafted in the Senate that will raise taxes on income over $400,000 for individuals and $450,000 for couples. Just […]
Barack Obama just can’t get enough out of Joe Biden these days. And anybody who’s been following Biden’s steady ascent in stature over the last several years — from gaffe-happy presidential contender to one of the most powerful vice presidents in U.S. history — couldn’t be less surprised. Perhaps the only surprise at all is […]
AMERICA, it appears, will go over the fiscal cliff after all, if only for a few days. But if all goes as planned, the worst of the cliff, a withering combination of tax increases and spending cuts, will be avoided. A deal nearing completion in the Senate would make permanent the tax cuts first enacted […]
Ever since President Barack Obama announced on 21 December that John Kerry would succeed Hillary Clinton as the new US Secretary of State, much has been written in the Indian sub-continental press that the 69-year-old five-time Senator from Massachusetts has a tilt towards Pakistan and won’t be India’s friend. One reason given to “prove” this […]
“A modest man,” Winston Churchill supposedly quipped about Clement Attlee, his successor as prime minister, “but then he has so much to be modest about.” We should say the same about economists, particularly their ability to forecast anything in a useful and timely manner. Those predicting an imminent American economic decline have usually been no exception. This […]
Earlier this month the National Intelligence Council released its Global Trends 2030: Alternative Worlds report — a document that comes out once per presidential administration — mapping out likely geopolitical trends over the next two decades or so. As usual, it’s a must-read, offering comprehensive analysis of the disparate factors that will drive global politics through 2030. […]
The diplomatic wisdom of incoming US Secretary of State John Kerry is expected to improve China-US relations, as the Obama administration seeks to rebalance its Asian strategy during the president’s second term. President Barack Obama on Saturday nominated Senator Kerry, the son of a diplomat, as his next secretary of state to replace Hillary Clinton, and […]
One of the least controversial judgments about Barack Obama’s first term is that he has been a good foreign policy President. Certainly that’s what the American public believes. It has given him high marks on overseas affairs for much of his presidency, especially after the successful operation to kill Osama bin Laden. In the final […]
Hillary Clinton will be missed by India as she makes room for Senator John Kerry to replace her as secretary of state for President Barack Obama’s second term. There are many reasons Clinton will be missed, not the least because she maturely accepted that India and the US will not see eye-to-eye on all issues, […]
looking beyond borders 