Currency Misalignment Monitor, March 2023
New monthly index tracks currency misalignment based on latest market rates Dollar is 11.2% overvalued Japanese yen 27.7% undervalued Chinese yuan 18.9% undervalued CMM is
It’s Productivism, Not Protectionism
Global Rebalancing Will Lead to Global Prosperity European leaders and the media are up in arms over recent U.S. policy decisions to support the reshoring
World Cup Soccer as a Model for a Deglobalized World
There is a growing consensus in the U.S. and many other advanced economies that we must move away from globalization, and towards more localized economies,
Raimondo Speech Marks Biden Administration Endorsement of Industrial Strategy
A little-noticed speech by Commerce Secretary Gina Raimondo last week was a rousing endorsement of industrial strategy by a senior Biden administration official as the
Free Trade Theory and Reality: An Economist’s Critique
The theory of free trade is so familiar and so often quoted, you might think there is ample evidence proving its accuracy. But there isn’t.
U.S. Income Inequality Widened Further in 2021
The top 5% and top 20% of U.S. households have enjoyed most of the gains in U.S. GDP since 1970. Bottom 20% have seen almost no gains in 50 years.
Production Tax Credits Unleash Tidal Wave of Investment in Manufacturing
$22 Billion of Investment to Create 15,000 Jobs The manufacturing incentives tucked into the Inflation Reduction Act have unleashed a tidal wave of investment in
Dollar Hits New Highs, Wreaking Havoc on US & World Economy
The foreign exchange value of the U.S. dollar is soaring on an almost daily basis, causing problems here at home and abroad. There is growing
China Trade Surplus and US Deficit Hit New Records, Driving Global Instability
ecKey Points China’s global trade surplus is heading for a new all-time high this year. Based on the first seven months of data, we estimate
How Venture Capitalists Would Manage the Chips Act
In my 15 years in Silicon Valley, I found venture capitalists to be the shrewdest and smartest individuals there. The best of them have had
