Cowards of Scale

Categories: Economics

“An American hand reaching out to an unclenching authoritarian fist: This is the dominant foreign policy metaphor of President Obama’s first month in office.  It is a simile of hope, as the president intends—but also one of vulnerability, as Obama may discover sooner than he expects.”  - Jim Hoagland, “Obama vs. Clenched Fists” (Washington Post, February 22, 2009) Vulnerability?  Dear citizens, please bear a discussion about risk and the management of risk.  And please accept that this is not an expression of ill ... Read More

Second-Rate Car Companies

Categories: Economics

"[W]hile proposed federal aid to the Big 3 would take the form of a loan, the vast majority of subsidies to foreign auto plants were taxpayer gifts such as property and sales tax exemptions, income tax credits, infrastructure aid, land discounts, and training grants."  - Greg LeRoy, Good Jobs First executive Director (“Richard Shelby,” Wikipedia, December 19, 2008)   Dear citizens, I must start with an admission.  I own and drive a Japanese car.  In fact, it is a car made wholly in Japan, ... Read More