The nationalists at the Constitutional Convention had so far carried the substance of their program: the creation of a supreme national government and a Congress empowered to veto state laws whenever Congress thought the states "incompetent."
Now that Cuban president Raul Castro has resigned the presidency of Cuba, will the US government lift its six-decade economic embargo against Cuba? Don't bet on it.
The impossibility theorem, developed by Nobel-winning economist Robert Mundell, paints a false tradeoff between the free movement of capital, fixed exchange rates, and effective monetary policy. Under a gold standard, all three are a possibility.
The central bank has basically destroyed the business of risk, and commercial real estate remains a looming disaster. As a result, banks aren't lending to regular people. The economy increasingly relies on little more than newly printed money.
Contrary to what Krugman might argue, the growth of organized labor in the US workforce was much more the work of government prodding and outright coercion than it was a natural progression of the American workplace.
The salient fact, and one which most writers fail to stress, is that, insofar as the working people then had a "choice of alternative benefits," they chose the conditions which the reformers condemned.
It seems that governments want to convince us that they have saved the world when the reality is that the misguided lockdowns were the cause of the economic debacle and lifting them is the main cause of the recovery.
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