by Raghuram Rajan via Project Syndicate When people are more able to shape their own futures, they are less likely to be convinced that others are to blame for their plight. To the extent that it weakens support for virulent nationalism, devolution of global governance to national and local communities may make the world a little more prosperous – and a lot safer.
with Raghuram Rajan via CNBCA common theme underlying political changes in the United States, Europe, Britain and in many Asian countries is the rise of populism. President Donald Trump, Brexit, Marine Le Pen in France, and the emphatic rise of Hindu nationalism in India all represent anger of displaced majorities.
with John B. Taylor via Speculators AnonymousI came across something today of which I believe is the most important thing for gauging monetary policy. And the mainstream financial media isn’t even talking about it (or worse – isn’t even aware). Because of this indicator – I actually believe the Fed may begin cutting rates sooner than many expect. So what am I talking about?
Oren Cass, National Affairs
The phrase "economic dynamism" has become so ubiquitous, its connotations so obviously desirable, that we accept uncritically the dressing up of policy debates in its terms. The standard narrative goes something like this: Disruption, a close cousin of dynamism, occurs when a new market entrant's superior offering or lower price allows it to displace an incumbent. Resources shift to this more productive use, and both workers and consumers reap the benefit. An economy featuring high levels of disruption is "dynamic," and with dynamism comes the innovation and economic growth that leads to rising material living standards for all. Read more here....
with Raghuram Rajan via Business Today Hoover Institution fellow Raghuram Rajan discusses the need to improve the capacity of the government, increase the economic growth potential, the need for next generation reforms, and the practicality of the minimum universal income.