Wall Street Journal
Political polarization has become an obstacle to economic growth because it is increasing uncertainty, and delaying new private sector investment and hiring. That’s the view emerging from the business community and—increasingly—from the economics profession. Earlier this month, in a front-page New York Times story, a number of CEOs gave voice to their fears about the fiscal cliff and the broader policy impasse in Congress. According to Vincent Reinhart, chief U.S.
Beltway Mourns Loss of Artur Davis, ‘Concerned Democrat’
August 16, 2012
The party switch of Artur Davis, the former Democratic congressman, is little surprise, but it's a tough loss for Beltway reporters.
In China, a Show Trial Without the Show
August 09, 2012
BEIJING—Back when disgraced Chinese politician Bo Xilai still ruled Chongqing, he took a special interest in the optics of trials. Before his sudden fall from grace this spring, he was, after all, famous for his dramatic flair—and his most artful turn as politician-cum-showman was the aggressively publicized way in which he cracked down on organized crime, and potential threats to his personal authority.
The Inscrutable Andy Stern, In His Own Defense
August 06, 2012
At a time when unions hold an ever-diminishing role in American life, Andy Stern commanded a remarkably high profile. To his supporters, the longtime head of the Service Employees International Union was the savior of organized labor, who had found a way to expand the ranks of his union when almost every other one in the private sector was shrinking.
Paul Krugman, Ted Cruz, and the Rage of the Golfing Class
August 01, 2012
Paul Krugman has posted a blog item observing, with some amusement, that Ted Cruz, Texas’s Tea Party-favored GOP Senate nominee, is a man who believes that there is a global plot, led by George Soros, to eliminate golf courses. It’s true! (Not that Soros wants to eliminate golf courses, but that Cruz has said he does.) What Krugman may not know, and what I learned from hard experience, is that golf is the very hottest of hot buttons to America’s business class. Regulate my company; tax my seven-figure income if you must.
Rage Of The Golfing Class
August 01, 2012
Paul Krugman has posted a blog item observing, with some amusement, that Ted Cruz, Texas's Tea Party-favored GOP Senate nominee, is a man who believes that there is a global plot, led by George Soros, to eliminate golf courses. It's true! (Not that Soros wants to eliminate golf courses, but that Cruz has said he does.) What Krugman may not know, and what I learned from hard experience, is that golf is the very hottest of hot buttons to America's business class. Regulate my company; tax my seven-figure income if you must.
Those Guys? Never Seen ’Em Before.
July 30, 2012
As Republicans have ramped up on their attack on Barack Obama as a wannabe socialist who doesn’t believe that successful businessmen are responsible for their own fortunes, I’ve been struck by an odd and little-noticed countervailing push: the desire by some conservative writers to disassociate their side from triumphant capitalists. I spotted it a few weeks ago in Nick Lemann’s New Yorker review of several books on inequality, including my colleague Tim Noah’s The Great Divergence and Spoiled Rotten: How the Politics of Patronage Corrupted the Once Noble Democratic Party and Now Threatens t
Campaign Advice That Mitt Won't Take
July 19, 2012
Take a moment to read this: Romney must know better than anyone that the folks running our big banks ... are hardly paragons of risk assessment. After all, Bain Capital, where Romney made his fortune, existed in part because worthy businesses often could not borrow on attractive terms from traditional banks. He must know two other things about these banks: They are too big to fail, and too complicated to regulate.
Following a week of mixed messaging out of the Romney camp, the Wall Street Journal sounded the alarms with an editorial declaring that the Romney campaign’s failure to call the individual mandate a tax might be the turning point of the entire campaign. But the Wall Street Journal would be wise to take a deep breath: The penalty/tax dustup doesn't much matter, and it shouldn't obscure their more credible criticism—Romney’s failure to respond more aggressively to attacks on Bain Capital. Romney hardly squandered an opportunity on the mandate/tax question.
The WSJ Editorial Page Has, Er, A Point
July 03, 2012
My first reaction to the conservative fulminating against John Roberts was that the right doesn’t realize how good they have it. The chief justice finds a way to limit future government activism while preserving (actually resurrecting) the nonpartisan standing of the Supreme Court, and all for the low-cost of a affirming domestic program that, while no doubt detested, was democratically enacted, and conservatives can’t find something nice to say about him?