International economic relations seem in disarray right now, and there is no consensus on how they might be improved. In such a situation, history often beats economic theory as a source of insights. Philosopher George Santayana’s 1905 assertion that “those…
Kashkari’s sage candor on banks refreshing
Neel Kashkari, the new president of the Minneapolis Federal Reserve, is a breath of fresh economic air with his proposal voiced last week to break up big banks. In doing so, he furthers an intellectual tradition at the Minneapolis Fed.…
Toscanini, the Zika virus and bio-pirates
In economics as well as karma, everything is somehow connected. The ability to perceive often subtle interconnections is a gift that can help us understand the world we live in. But sometimes it can seem a bit manic. That happened…
A fascinating, pessimistic history of U.S. economic growth
Robert Gordon’s new book on productivity in the U.S. economy, “The Rise and Fall of American Growth,” is masterful, but reminds me of the character in Evelyn Waugh’s comic novel “Scoop,” who sings, “change and decay in all around I…