Further Thoughts on Industrial Policy
Supporters of industrial policy often argue in the following way: Sometime in the past government raised Smith’s taxes, gave the proceeds to Jones, and Jones then used these proceeds to build a better mousetrap; it follows that government is responsible for better mousetraps in particular, and, more generally, for whatever contribution better mousetraps make to […]
Has Manufacturing Hollowed Out? – Econlib
Last week I attended an excellent talk on Taiwan and semiconductors given by my Hoover colleague Glenn Tiffert. It was at the Naval Postgraduate School. It was quite informative and the questions from the students in the audience reminded me of what I miss most now that I’m retired from NPS. At a couple of […]
Brazil’s congress approves looser spending rules in boost for Lula
Brazil’s congress has given President Luiz Inácio Lula da Silva the first significant legislative win of his administration, voting for rules to loosen limits on public expenditure. The so-called new fiscal framework replaces a stricter cap on spending and makes it mandatory for budgets to increase by more than the rate of inflation. It is […]
What China’s economic troubles mean for the world
Only eight months ago China’s economy was expected to roar back to life. Zero-covid had been abandoned; the country’s shoppers and tourists allowed to roam free. Yet the hoped-for rebound has fizzled out. gdp growth, which some economists had expected to hit an annualised rate of 10% in the second quarter of the year, instead […]
2:00PM Water Cooler 8/22/2023 | naked capitalism
By Lambert Strether of Corrente. Bird Song of the Day Large Wren-Babbler, Kuala Lompat; Krau Reserve, Pahang, Malaysia. “Breeding Status: territorial; General Climate: wet; Cover Density: thick). Other Behaviors: Advertise. Habitat: Rainforest, Evergreen Forest, River.” I like the name “Wren-Babbler.” It reminds me of a character in a P.G. Wodehouse novel; “Bertie Wren-Babbler”; “Madeleine Wren-Babbler”; […]
