President Obama received a lot of outraged criticism from the right during the 2012 campaign for his remark, “You didn’t build that.” What he meant, though he uncharacteristically said it in a fairly clumsy way, was that for every proudly self-made entrepreneur there is a huge web of supporting institutions and infrastructure built by the government.
Outgoing WTO Director-General Pascal Lamy has recently criticized EU-US and transpacific trade talks, which have the potential to create the world’s two largest free trade areas and measurably increase prosperity and growth for hundreds of millions, if not billions, of people. He has a point. Several, actually.
In principle, the decision by House Republicans to strip the food stamp program out of the current farm bill is not a bad thing. In practice, it may not be so bad either.
For all its faults, the pharmaceutical industry remains one area in which the United States is still a competitive world leader. But without drastic changes in the way the FDA regulates the industry, this advantage may not last.
I met Taymor Kamrany in 2003, just over a year after the U.S.-led invasion of Afghanistan had ousted the Taliban. We were both in Kabul, working on a USAID program to improve the environment for business and help government institutions rebuild their capacity to support a market economy. It was not an easy task.
I can recall when taking a flight in Africa would almost always give you a funny or hair-raising story to tell, even though paved runways were already standard issue in airports throughout the continent, but traveling around Africa is now pretty boring, which is a good thing.
About 10 days ago I sat at breakfast in Lomé, the capital of Togo, a sliver of a country in West Africa, watching French TV news of the capture, and what turned out to be false reports of the liberation, of seven French tourists in northern Cameroon by the Nigerian radical Islamist group Boko Haram. It was hard not to feel concerned about the future of this part of the world.
Jeffrey Sachs, writing in yesterday’s Financial Times, has neatly identified the culprit in the U.S. fiscal sequester, which went into effect at noon today. It is not the Tea Party, nor even the House Republican leadership, but Obama himself, counterintuitive as that may appear.