Every generation launches a new competitor to America and the people who don’t like capitalism and America’s individualist, free market economy trumpet that now the American way is being left in the dust. In the progressive era it was the Germans (how did that work out?), then it was the Russians (remember Sputnik?), then it was the Japanese (buying up Rockefeller center! the horror!), then it was the Chinese (look at those high speed rail lines!). My message to Americans is to double down on America. Double down on immigration, entrepreneurship, innovation, building for tomorrow, free markets, free speech and individualism and America will take all new competitors as it has taken all comers in the past. The world should be more like America not the other way around.
Hat tip: Mike Bird.
The post The Danger from Japan appeared first on Marginal REVOLUTION.
Marginal Returns to Public Universities
From Jack Mountjoy, forthcoming in the QJE: This paper studies the returns to enrolling in American public universities by comparing...
Rent Control Creates Ghost Apartments
Adam Lehodey writing at City Journal: In New York City, making a profit on real estate has become increasingly difficult....
Greg Mankiw’s Blog: Principles of Economics, 11e
About Me Name: Greg Mankiw Location: United States I am the Robert M. Beren Professor of Economics at Harvard University....
AI is everywhere but in the productivity statistics…
These people are saying it is there too. Though I am not quite sure what they (or anyone, for that...
