[Responding to the question: What is the most important economic problem to be faced by the United States in the next twenty years?]
Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.
Self-deception ultimately explains Japan's plight. The Japanese have never accepted that change is in their interest - and not merely a response to U.S. criticism.
Economics has never been a science - and it is even less now than a few years ago.
Funeral by funeral, theory advances
Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support.
The problem is no longer that with every pair of hands that comes into the world there comes a hungry stomach. Rather it is that, attached to those hands are sharp elbows.
Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.
Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.
What good does it do a black youth to know that an employer must pay him an hour if the fact that he must be paid that amount is what keeps him from getting a job?