An economy is simply an accumulation of transactions involving goods and services, mostly carried out by business enterprises. Their behavior is what matters, and this can be adequately perceived only on the ground, where the behavior occurs – where an economy is built, where it breaks, and where it must be fixed.
MONTREAL – Much commentary about the American economy nowadays leaves the impression that economists should fix its problems. But Washington is teeming with smart economists, and the problems remain.
An economy is like a cloud: only when inside does one realize how diffuse it is – and that what matters are the particles of vapor that it comprises.
Likewise, an economy is an accumulation of transactions involving goods and services, mostly carried out by business enterprises. Their behaviors are what matters, and they cannot be adequately perceived from the distant perspective of economic models and statistics, but only on the ground – where an economy is built, where it breaks, and where it must be fixed.
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US Speaker of the House Nancy Pelosi’s visit to Taiwan may have widened the divide between the United States and China even further. But the Sino-American rivalry has been building for years, if not decades, alongside each power's evolving role in the international system.
reviews five recent books on the recent history, and worrisome future, of the Sino-American relationship.
A toxic mix of mutual distrust and rising nationalism – with Taiwan the immediate flash point – has brought Sino-American relations to their lowest point in decades. While neither China nor the United States appears to want a military conflict, we asked PS commentators whether the two powers might nonetheless stumble into one.
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MONTREAL – Much commentary about the American economy nowadays leaves the impression that economists should fix its problems. But Washington is teeming with smart economists, and the problems remain.
An economy is like a cloud: only when inside does one realize how diffuse it is – and that what matters are the particles of vapor that it comprises.
Likewise, an economy is an accumulation of transactions involving goods and services, mostly carried out by business enterprises. Their behaviors are what matters, and they cannot be adequately perceived from the distant perspective of economic models and statistics, but only on the ground – where an economy is built, where it breaks, and where it must be fixed.
To continue reading, register now.
As a registered user, you can enjoy more PS content every month – for free.
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