Donald Trump and the Lost (or Never Possessed) Art of the Deal

Because the incumbent president of the United States regularly inundates us with boasts about how he is supposedly a clever and masterful negotiator--notwithstanding the overwhelming amount of evidence suggesting that as with other claimed skills, the incumbent president of the United States suffers massively from a severe and pronounced case of the Dunning-Kruger effect when it comes …

Donald Trump Is a Threat to the National Security of the United States and the Security of the World

And yes, I mean every word in the title of this blog post. Here is why. To start, let it be noted that Donald Trump, by himself, can do more to disrupt international security and stability than can most latent geopolitical threats out there: A Donald Trump presidency poses a top-10 risk event that could …

Hillary Clinton’s Campaign Insults the Very Nation She Wishes to Lead

The putative next president of the United States has been trying recently to seem more approachable, more warm, more friendly, more of a kind-of-person-you-and-I-would-want-to-have-a-beer-with kind of politician. Presumably, achieving all of this would cause the rest of us to want to give her the keys to 1600 Pennsylvania Avenue. But when one looks beyond the …

What Happens when the Minimum Wage Is Raised?

Well, among other things, you get employers looking for ways to replace human workers with automated ones. To be sure, the process of worker automation is inevitable regardless of whether there has been an increase in the minimum wage. But if you are a human being interested in keeping a job, minimum wage increases--especially sharp …

In which Venezuela Achieves a Dubious Milestone

Q: What do toilet paper and Venezuelan currency have in common? A: Absolutely nothing, as toilet paper is more valuable than is Venezuelan currency. No, seriously. And of course, toilet paper is hard to find in Venezuela. Thank goodness that the Venezuelan government is taking the responsible approach to this economic mess. Just kidding! It actually …

Paul Krugman Is Fundamentally Dishonest (A Continuing Series)

Any just and intellectually defensible analysis of the New York Times's decision to hire Paul Krugman as a columnist has to conclude that in making the hire, the Times severely harmed its own credibility. Krugman simply cannot be trusted to present facts and make honest arguments. Behold the latest example of Krugman's thoroughgoing mendacity. Comes …

The Latest Pie-in-the-Sky Idea in Los Angeles

So, Los Angeles has decided to increase its minimum wage to $15 per hour. I'm sure that there are a host of people rejoicing over this alleged act of economic justice, but remember that actions have consequences: BERGMAN: Caroline Styne owns more than half a dozen high-end LA eateries. She says of every dollar that …

Quote of the Day

Mr Krugman thus implied that the British government—deliberately or mistakenly—had engineered measly growth at the beginning of its term, thus making it easier for the economy to roar back as the election approached. That would seem to ascribe to the coalition an unrealistic level of strategic wizardry and general deviousness, beyond even that possessed by …

In Praise of a Carbon Tax

I have invited myself to do some writing over at Aeon Ideas. My first piece addresses the question of what I would be willing to sacrifice in order to combat climate change. An excerpt: I am perfectly willing to sacrifice something to combat climate change. I am willing to sacrifice tax money. I invite policymakers to …

The Trade Policy Clown Show of 2015

Great nations are not normally in the habit of allowing childish temper tantrums to dictate economic policy. Great nations are even less inclined to sacrifice an excellent economic deal because of a temper tantrum. And yet, when we examine the frantic and immature back-and-forth regarding the Trans-Pacific Partnership Act, we see that the United States--a …