Tag: Trade

Relax: Turkey and Russia Will Not Go to War

Turkey has shot down a Russian jet that strayed into its airspace. The Turks claim they issued 10 warnings, while the Russians claim they never heard one of them. Over the last few days, many people have speculated on social media that this may lead to World War III. This needlessly stirs up fear–Russia and Turkey will not go to war over something like this. Instead both countries will say bellicose things to stir up support at home while trying to deescalate the situation with relatively muted, token responses. Those claiming otherwise are drastically overestimating Russia’s power and consequently its aggressiveness.

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The 3 Ways Governments Raise Money Part III: Printing

This is the conclusion of my three-part series on how governments finance themselves. The aim is to clear up the popular misconception that the state’s budget is similar to that of a corporation or a household, that government borrowing is always necessarily a bad thing. Previously we talked about taxation and borrowing–today is all about printing. Continue reading “The 3 Ways Governments Raise Money Part III: Printing” →

Who is Right about Free Trade? Barack Obama vs. Bernie Sanders and Elizabeth Warren

In recent weeks, the Trans-Pacific Partnership (TPP) is back in the news. TPP aims to lower barriers to trade among the United States and a variety of other nations including rich countries like Japan, Canada, and Australia and developing countries like Chile, Peru, Vietnam, and Malaysia. US Senator Elizabeth Warren (D-MA) has come out strongly against TPP, as has senator and presidential candidate Bernie Sanders (D-VT). President Barack Obama continues to support TPP–he recently succeeded in having the agreement fast-tracked by the senate and will likely replicate that success in the house. Once TPP is fast-tracked, congress cannot debate the treaty’s contents or make amendments to it. Is TPP good for the United States? Who is right?

Continue reading “Who is Right about Free Trade? Barack Obama vs. Bernie Sanders and Elizabeth Warren” →