My fellow economists and academics fail to understand the economics of trade in the real world. Traditional models of academia respect free trade without considering whether it is fair trade.
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My citizen activism is a direct outgrowth of a classical and fiscally conservative training in economics at Harvard. It is a perspective rooted in one of the most important concepts in economics - the need for government intervention in the presence of a market failure.
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For those of you who still believe in the Easter Bunny and that the letters that appear in your local newspaper come from concerned citizens who really care, Ive got troubling news. At least in politics, most of the letters that get published on the letters-to-the-editor page originate in the campaign headquarters of the candidates.
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Cheap labor is a small part of the problem at work here. If it were only cheap labor, America would be in trouble. Because its other things, too, we have a great chance to turn it around. Heres the problem: Our high corporate tax rate pushes our companies offshore. Our high regulatory burden pushes our companies offshore.
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If money is the root of all evil, then Chinas manipulation of its currency, the yuan, is the tap root of everything wrong with the U.S.-China trade relationship.
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Its that evil twin part of me that always comes out at the absolute wrong political moment, like a demon possessing my soul; it exhibits itself as an arrogance or disdain or obnoxiousness or meanness or anger or pettiness - all traits that are lethal in politics.
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