The Great Debate

from Anatole Kaletsky:

Stock markets set to take off as Europe, Asia abandon austerity

By Anatole Kaletsky
November 28, 2014

A pedestrian walks past an electronic board showing Japan's Nikkei average outside a brokerage in Tokyo

The Great Divergence is a term coined by economic historians to explain the sudden acceleration of growth and technology in Europe from the 16th century onward, while other civilizations such as China, India, Japan and Persia remained in their pre-modern state. This phrase has recently acquired a very different meaning, however,  more relevant to global economic and financial conditions today.

Despite stimulus, middle class still struggles

By Mitch McConnell
February 17, 2014

Five years ago Monday, President Barack Obama signed the signature economic proposal of his presidency, saying that the passage of the $787 billion economic stimulus package heralded the “the beginning of the end” of the Great Recession.

Will George W. Bush become a surprise Obama asset?

By Nicholas Wapshott
June 21, 2012

Whatever happened to George W. Bush? While 88-year-old George H.W. Bush still goes skydiving and chats about Justin Bieber with his granddaughter Jemma, the faux Texan who brought us two wars, waterboarding, an economic meltdown and record public borrowing is strangely missing. Just as well, you might think. What could he possibly say?

America is losing as many illegal immigrants as it’s gaining

By Douglas S. Massey
April 12, 2012

You’d never know it from the Republican primary debates, but for the first time in more than four decades, illegal migration from Mexico has fallen to a net zero. All data indicate that the undocumented population of the United States is no longer growing. According to estimates from the U.S. Department of Homeland Security, that population peaked at around 12 million in 2008, fell to 11 million in 2009 and has remained constant since then. Independent estimates prepared by the Pew Hispanic Trust show the same thing, and Mexican census data reveal unusually large numbers of former U.S. migrants remaining home rather than heading northward.

from James Pethokoukis:

Oh, about that U.S. economic recovery …

August 17, 2009

What might stand in the way of a robust economic turnaround. Gary Becker outlines the following factors: