Monthly Archives: September 2003

Is global growth a ‘public good’?

Arnold Kling responds”>”>responds to my claim: “I don’t see the pub­lic good argu­ment.  If the U.S. cuts its tar­iffs and sub­si­dies, then the biggest ben­e­fi­cia­ry is the U.S.  The prob­lem is not that we failed to incor­po­rate world wel­fare into our util­i­ty function–it’s that out gov­ern­ment caves into spe­cial inter­ests. ” This may be a […]

Not your average bunker-buster

Hur­ri­canes gath­er heat over the trop­i­cal ocean, using the ener­gy to dri­ve con­den­sa­tion, winds, a lot of noise, etc. ” A ful­ly devel­oped hur­ri­cane can release heat ener­gy at a rate of 5 to 20x1013 watts and con­verts less than 10% of the heat into the mechan­i­cal ener­gy of the wind.  The heat release is […]

IMF World Economic Outlook

IMF Eco­nom­ic Coun­sel­lor, Ken Rogoff, is highly”>”>highly quote­able. h3. On Europe’s growth out­look ” As for Europe, the most con­crete pos­i­tive recent news seems to be the good news else­where. Ger­many, Italy, and the Nether­lands have all been in reces­sion in the first half of the year, and French GNP declined in the sec­ond quar­ter, […]

Yes, Virginia, the WTO matters a great deal

meta-cre­a­tion_­­date: 16 Sep­tem­ber, 2003 Is the WTO good for any­thing? Some econ­o­mists (“John Quiggin”:, “Arnold Kling”: ) whom I would have expect­ed to answer “yes” are express­ing doubts.  The col­lapse of the talks in Can­cún will prompt a lot of ques­tions about the util­i­ty of the WTO and, of course, the cyn­ics will have all […]

Why it ended without finishing

Even the best accounts of the final hours of the Can­cún Min­is­te­r­i­al Meet­ing of WTO seem to avoid answer­ing a cou­ple of obvi­ous ques­tions: # Why did this dis­agree­ment mean the end of talks for now? There is no lack of dis­agree­ments at Can­cún: after all, that’s why we have negotiations—to bridge the dif­fer­ences Why […]

Battle at the buffet table

The nego­ti­a­tions entered a new phase ear­ly Sat­ur­day after­noon with the issue of a new ‘chair­mans’ text’ (more details below). We’re now at Step 4[⇒ relat­ed sto­ry] in the nego­ti­a­tions where most of the bar­gain­ing takes place. This revised Chairman’s text is under detailed dis­cus­sion in small­er groups of key coun­tries chaired by the Chair­man […]

It’s over … for now

The fail­ure point was the four so-called ‘Sin­ga­pore issues’: specif­i­cal­ly the objec­tions of a broad coali­tion of Asian, Car­ribbean and African coun­tries to pro­pos­als for fur­ther work on Trade Facil­i­ta­tion (improv­ing the reg­u­la­tions affect­ing the move­ment of goods through ports, and reg­u­la­tions sur­round­ing finan­cial trans­ac­tions and cus­toms clear­ances). The Sin­ga­pore Issues were put on the […]