Rather than reducing concentrated market power through “disruption” or “creative destruction,” technological innovation historically has only added to the problem, by awarding monopolies to just one or a few dominant firms. And market forces offer no remedy to the problem; only public policy can provide that.
shows that technological change leads not to disruption, but to deeper, more enduring forms of market power.
The passing of America’s preeminent foreign-policy thinker and practitioner marks the end of an era. Throughout his long and extraordinarily influential career, Henry Kissinger built a legacy that Americans would be wise to heed in this new era of great-power politics and global disarray.
reviews the life and career of America’s preeminent foreign-policy scholar-practitioner.
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发自纽约—美国前总统特朗普在任期内曾多次提高中国进口商品的关税,从他2017年1月上任时的平均3%左右提高到了2019年底的20%以上,目前美国对中国商品征收的平均关税基本与美国在1930年代初根据《斯穆特-霍利法案》对世界其他国家征收的关税水平持平——在许多经济学家眼中正是该保护主义法案导致了严酷的大萧条。如今乔·拜登总统正在扭转特朗普的多项政策(包括对欧洲商品征收的进口关税),同时也必须决定是否要移除其前任的对华关税。
拜登此举并不是为了维护中国工人或企业的利益,尤其是他需要保护自身免遭对中国这个美国全球主要竞争对手过于软弱的指责。但他有三个更有力理由去抛弃这些关税:它们伤害了美国的工人和企业;未能减少美国整体贸易逆差;也有证据表明其进一步削弱了对全球经济规则的尊重。
在美国经济学家实施的所有实证研究中没有一项表明特朗普贸易战对美国家庭或企业有利。纽约联邦储备银行的玛丽·阿米提(Mary Amiti)、普林斯顿大学的史蒂芬·雷丁(Stephen Redding)和哥伦比亚大学的大卫·维恩斯坦(David Weinstein)研究了特朗普在2018年期间对中国商品的六次加税——这导致被征收10%以上关税的美国进口商品比例从3.5%增加到了10.6%。与特朗普及其高级贸易官员宣称的相反,更高的关税几乎全部转化成了美国消费者所支付的更高价格。
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