We are in this mess for a good reason

Twenty years ago, watching big American companies move production to China, I clearly remember thinking “We will bitterly regret this. Short-term it will look innocuous, yes, reducing prices for consumers. Long term it will mean that China will be a super-power, challenging the United Stares. Living standards will become static, jobs fewer and worse paid, …

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A changed America

“The paradigm shift of the 1980s really was equivalent in scale and scope to those of the 1960s and the 1930s. Key intellectual foundations of our legal system were changed. Our long-standing consensus about acceptable and unacceptable conduct by big business was changed. Ideas about selfishness and fairness were changed. The financial industry simultaneously became …

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