Top Four Posts from Business Trip

My business trip is ending.  I left NYC on February 1 and and returned today.  The Dollar Index rose every day that I was gone, and is struggling to extend the streak today.  It is, I am sure, a correlation and not a causal relationship.

I am able to keep the blog going, though the timing and number of posts vary.  Thank you for your patience. Here are links to what I think are my best posts during this business trip

1.  Future of Globalization looks at export-oriented and direct investment strategies and the fixed spheres of influence and the variable shares of the Open Door.  It  is a draft of my monthly column in Caixin.
2.  The new US President reportedly asked his first adviser that was forced to resign (over deceiving about conversations with a Russian official about Obama’s sanctions) Flynn whether it was a strong or weak dollar that was in the US interest.  I have thought about this for more than 30 years.  Here is my advice.
3.  As part of the tax reform that Trump is expected to unveil in an address to both houses of Congress at the end of the month, corporate taxes are likely to be cut.     Corporate tax cuts may help the stock market, but will unlikely strengthen growth or create jobs.  The reason that business are not investing more has little to do with the price of capital or the access to it.  There is simply more capital than profitable investment opportunities.  Corporations returning capital to shareholders seems to be to me to be a prima facie evidence.  I discuss these issue in Lies, Damn Lies, and Taxes
4.  This is a nice segue into my new book, Political Economy of Tomorrow.  I pick-up the late 19th century American discourse about surplus capital and explain in broad strokes the post-WWII economic and social history through that lens.  I fully appreciate that just the notion of surplus capital will make some eyes roll, but new provocative vista and a richer understanding that is chock full of connections and linkages.  I also look at how society is changing to deal with the surplus.  Three relationships are explored, women and men, employee and employers, and citizens and the state.  The book has just been published and I wrote a little summary of it here.  


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