WASHINGTON — Can we run the economy “hot”? To those who think that President Trump’s economic policy is simply an extended program to make the rich richer, there is another, more subtle possibility. The focus on the rich, while understandable, simplifies and misrepresents Trump’s larger ambition. This is to create an economy that is operating […]
Robert Samuelson
Posted inOp-Eds, sj-web
Suppressing greenhouse gases is a mission impossible
WASHINGTON — Anyone who tells you that dealing with climate change is simply a matter of sweeping away the obstructionism of oil companies is living in a dream world. The real obstacle is us — our vast dependence on fossil fuels and the difficulty of extricating ourselves without crippling the world economy. It’s true that […]
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Posted inOp-Eds, sj-web
There is a hidden threat to the U.S. economy
WASHINGTON — Here’s today’s quiz: What poses the greatest threat to America’s economy? (a) federal budget deficits; (b) China; (c) trade deficits; (d) ineffective schools; (e) the internet; (f) none of the above. The correct answer is (e), the internet — the technological wonder of the age. True, all the other threats are real. Runaway […]
Posted inOp-Eds, sj-web
Will inflation come back to haunt U.S.?
WASHINGTON — Anyone looking for good economic news will be disappointed by the latest inflation report, which showed the Consumer Price Index (CPI) advancing by 0.5 percent in January. By itself, this isn’t especially alarming — prices jump around month to month — but it has troubling implications for the future. To some economists, it […]
Posted inOp-Eds, sj-web
Will the Olympics go bust?
WASHINGTON — Whatever the virtues of the Olympics, economics is not one of them. As we enjoy this year’s winter games in South Korea, we ought to ponder the possibility that the Olympics will one day price themselves out of existence. It will cost so much to host the Olympics extravaganza that no one will […]
Posted inOp-Eds, sj-web
Expanded spending produces enormous deficits
WASHINGTON — Well, we just kicked the can down the road again — to quote former President Barack Obama, who developed into an expert can-kicker during his eight years in the White House. The bipartisan budget agreement reached last week by Congressional leaders is nothing if not a huge evasion of responsibility. Neither party will […]
Posted inOp-Eds, sj-web
Changes ahead for trucking industry
WASHINGTON — The future of trucking may tell us a lot about the future of work. It’s no secret that many Americans fear losing their jobs to automation. In a Pew Research Center poll last October, nearly three-quarters of respondents worried that “computers and robots could do most of the work currently done by humans.” […]
Posted inOp-Eds, sj-web
Commonsense immigration for the 21st century
WASHINGTON — We are a nation of immigrants who are uneasy about immigration. There is a long history of resentment against immigrants, dating to the Irish immigrants in the 1840s and the Chinese a few decades later. This contrasts with our demonstrated ability to absorb newcomers. It’s time to overcome this two-headed legacy with an […]
Posted inOp-Eds, sj-web
U.S. loses, China wins, with withdrawal from TPP
WASHINGTON — In the wake of President Trump’s State of the Union speech, it is worth remembering what still ranks as one of the worst decisions of his presidency: the withdrawal of the United States from the Trans-Pacific Partnership, or TPP. It happened just about a year ago. You’ll recall that the TPP was an […]
Posted inOp-Eds, sj-web
Stock market remains vulnerable
WASHINGTON — The stock market is going gangbusters — but whether this reflects the economy’s underlying strength or runaway speculation is a question that stumps many experts. Hence, the need for this column: a primer on the red-hot stock market. Will it sustain the economy or ultimately kill it? The boom is undeniable. In 12 […]