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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尽管不久前曾宣布共同努力提升银行系统的短期流动性,欧洲央行仍然与工业化世界其他国家的央行步调严重不一致。美国、加拿大和英国央行最近已经调降了利率。但欧洲央行却坚决反对降息,事实上,在管理委员会12月召开会议后,欧洲央行行长让-克劳德·特里谢提出有些委员想要提高利率。
他们在和谁开玩笑?人人都知道欧洲央行现在不能加息,未来一段时间内也不能这么做。在最近一次严重金融危机期间,欧洲央行的态度却是难以令人信服的虚张声势,因为它面临着通胀预期的问题。
过去的政策失误导致了欧洲央行现在的困境。
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