MANY praise Cuba for having such a high level of social development for a country whose economy is in such sad shape. But back in 1957 Cuba was a developed, not an underdeveloped country--it ought today to look like Italy, Spain, Portugal, or Puerto Rico, and it doesn’t. Thanks to the dictatorsh...
(less)
USUALLY I am a great fan of Barbara Ehrenreich. But I did not like her book "Nickel and Dimed." I did not like it because of its politics--or, rather, because of its anti-politics, because of its political passivity...
(less)
IF they had any shame, they would have long since fled from their high seats in the temple of our civilization and taken up lives of anonymous service to others...
(less)
HERE at Berkeley, I’m often asked why I have such an allergic reaction to Noam Chomsky. Here's one of many reasons, but I think it alone is sufficient...
(less)
AT the end of Jane Austen’s early-nineteenth century novel, "Pride and Prejudice," the hero Fitzwilliam Darcy proposes to the heroine Elizabeth Bennet, and Elizabeth's mother goes berserk...
(less)
The ongoing industrial revolutions in China and India are the most remarkable and wonderful things seen in recent economic history. The future looks relatively bright.
(less)
ECONOMISTS should never forecast changes in long-term interest rates, the next move in the stock market, or whether there is about to be a recession. We have very good theories to explain why all three are more-or-less completely unforecastable.
(less)
Did the Federal Reserve fall down on the job and fail to do what it could to stem the Great Depression? Yes. Would things have been better if had there been no Federal Reserve at all? Definitely not.
(less)