Rather than reducing concentrated market power through “disruption” or “creative destruction,” technological innovation historically has only added to the problem, by awarding monopolies to just one or a few dominant firms. And market forces offer no remedy to the problem; only public policy can provide that.
shows that technological change leads not to disruption, but to deeper, more enduring forms of market power.
The passing of America’s preeminent foreign-policy thinker and practitioner marks the end of an era. Throughout his long and extraordinarily influential career, Henry Kissinger built a legacy that Americans would be wise to heed in this new era of great-power politics and global disarray.
reviews the life and career of America’s preeminent foreign-policy scholar-practitioner.
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奥斯汀,德克萨斯—2008年金融崩盘要求全球金融体系降低贸易失衡、遏制投机性资本流、防止系统性传染。当然,这正是最初的布雷顿森林体系的目标。但这一体系如今无法生存,也不值得追求。那么,可能的替代方案是怎样的?
1944年的布雷顿森林会议上,两个人和他们的观点发生了碰撞:美国总统罗斯福的代表哈里·德克斯特·怀特(Harry Dexter White)和代表衰落的大英帝国的约翰·梅纳德·凯恩斯。怀特提出的机制基于战后美国的贸易盈余,美国用这一盈余让欧洲和日本美元化,作为交换,欧洲和日本默认美国货币政策的完全自由裁量权。毫不奇怪,这一机制取得了胜利。新的战后体系奠定了资本主义全盛时代的基础——直到美国失去了盈余、怀特的安排崩溃。
在过去十年,有一个直观的问题被反复提及:凯恩斯被否定的计划会更适合2008年后的多极世界吗?
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