Tuesday , February 28 2017
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Project Syndicate

Don’t Cry for Corporate America

NEW HAVEN – Corporate tax cuts are coming in the United States. While this push pre-dates last November’s presidential election, President Donald Trump’s Make-America-Great-Again mantra has sealed the deal. Beleaguered US businesses, goes the argument, are being squeezed by confiscatory taxes and onerous regulations – strangling corporate earnings and putting unrelenting pressure on capital spending, job creation, and productivity, while sapping America’s competitive...

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How Imports Boost Employment

MEXICO CITY – According to today’s populists, “good jobs” in US manufacturing have been “lost” to competition from imports and preferential trading arrangements. But this narrative does not fit the facts, because imports create jobs, too. For starters, many jobs are directly connected to trade. Think of the longshoremen who load and unload cargo, the pilots and crews who transport goods by air, the truckers who do so by land, and the wholesale and retail workers who...

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The Battle for Britain

On February 17, Tony Blair delivered a speech aimed at reopening the Brexit debate in Britain. In view of the potential significance of his intervention, we reproduce the text of his speech here. LONDON – The British people voted to leave the Europe Union, and the will of the people should prevail. But the people voted without knowledge of the true terms of Brexit. As these terms become clear, it is their right to change their mind. What was...

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Baltic Dread

TALLINN – News media nowadays are rife with speculation about whether – if not when – US President Donald Trump and Russian President Vladimir Putin will divide the world between them. We in Estonia and the other Baltic states now fear being consigned to Russia’s sphere of influence once more. Indeed, for many Baltic citizens, suppressed visions of torture, deportations, and flight – all experiences from our recent history – are once again bursting into our...

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Checks and Balances Before Roads and Bridges

WASHINGTON, DC – In the 2016 American presidential election, Hillary Clinton and Donald Trump agreed that the US economy is suffering from dilapidated infrastructure, and both called for greater investment in renovating and upgrading the country’s public capital stock. Now that the Trump administration is preparing its first budget outline, its initiatives in this area will be a central focus of attention. The United States is not alone. In fact, infrastructure gaps are...

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The Anatomy of Populist Economics

PARIS – For at least the past year, populism has been wreaking havoc on Western democracies. Populist forces – parties, leaders, and ideas – underpinned the “Leave” campaign’s victory in the United Kingdom’s Brexit referendum and Donald Trump’s election as President of the United States. Now, populism lurks ominously in the background of the Netherlands’ general election in March and the French presidential election in April and May.But, despite populism’s seeming...

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Tony Blair’s Democratic Insurrection

LONDON – Former British Prime Minister Tony Blair’s recent call for voters to think again about leaving the European Union, echoed in parliamentary debates ahead of the government’s official launch of the process in March, is an Emperor’s New Clothes moment. Although Blair is now an unpopular figure, his voice, like that of the child in Hans Christian Andersen’s story, is loud enough to carry above the cabal of flatterers assuring Prime Minister Theresa May that her...

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The Politics of Historicide

NEW YORK – In a world of disarray, the Middle East stands apart. The post-World War I order is unraveling in much of the region. The people of Syria, Iraq, Yemen, and Libya have paid an enormous price. But it is not just the present and future of the region that has been affected. An additional casualty of today’s violence is the past. The Islamic State (ISIS) has made a point of destroying things it deems insufficiently Islamic. The most...

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How Poor Countries Foot the Refugee Bill

PARIS – The Syrian refugee crisis has focused attention on the need to improve management of refugee flows during times of crisis. One issue is particularly worrying: poor countries may be paying a large indirect price for rich countries’ efforts. Data show that a substantial portion of the costs associated with the influx of refugees and asylum-seekers in some European countries is being reported as official development assistance (ODA) – the measure the OECD...

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PS On Air with Jeffrey Sachs

[Listen to the podcast here Jeffrey Sachs, Director of the Center for Sustainable Development, Columbia University discusses his new book, Building the New American Economy, with Christopher Granville, M.D. of TS Lombard, Handelsblatt’s Katharina Slodczyk, and Carlos de Vega of El País.

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