Monthly Archives: November 2003

Friedman and Keynes

A fas­ci­nat­ing essay on “Eco­nom­ic Principals”: bq. Mil­ton Friedman’s neme­sis was the clin­i­cian Keynes, the trick­ster who wrote The Gen­er­al The­o­ry. It is to Keynes that the author of Cap­i­tal­ism and Free­dom even­tu­al­ly will be com­pared.

Press urges Bush to drop the steel tariffs

The reac­tion from the East Coast press, at least, seems to be fair­ly uni­form. Samuel­son in the “Wash­ing­ton Post”: is rep­re­sen­ta­tive bq. tar­iffs have prob­a­bly cost more jobs among steel users than they’ve saved among pro­duc­ers. Gary Huf­bauer and Ben Goodrich of the Insti­tute for Inter­na­tion­al Eco­nom­ics, a think tank, esti­mate that tar­iffs pre­served 3,500 […]

Quiggin predicts the ‘end for WTO

meta-cre­a­tion_­­date: 12 Novem­ber, 2003 JQ has appar­ent­ly “con­vinced himself”: that the WTO’s rejec­tion of the US steel safe­guard action could spell “the end of the line” for the Orga­ni­za­tion. bq. As I’ve pre­vi­ous­ly men­tioned, the WTOmade lots of ene­mies by over­reach­ing itself in the 1990s, on the assump­tion that big-coun­try gov­ern­ments would always back it […]

No thaw for China, Taiwan in WTO membership

A curi­ous fact about WTO: you don’t need to be a coun­try to join. The basic require­ment is sov­er­eign­ty over a cus­toms ter­ri­to­ry. That is, you have to be able to set the tar­iffs and local tax­es of a defined geo­graph­i­cal area. So ‘cus­toms ter­ri­to­ries’ such as HongKong [once UK, now Chi­na] are wel­come as […]

Why the USA ‘lost’ the steel case

meta-cre­a­tion_­­date: 11 Novem­ber, 2003 Here’s the nub of the mat­ter. If you’d like to wade through the full deci­sion, you’ll “find it(download pdf file from WTO, 1043kb)”: on the WTO site (doc­u­ment num­ber WT/DS248/AB/R of 10 Novem­ber, 2003) The WTO Appel­late Body upheld the prin­ci­pal find­ing of the dis­pute pan­el: that the Unit­ed States author­i­ties […]

Cheques all cashed

Mur­ray Sayle’s gos­sipy, bitchy “review(link to the UK Spec­ta­tor magazine)”:–11–08&id=1851 of a new book that picks over the car­cass of the nationalist/comunist/unification wars in Chi­na in which Soong Mei-ling—“dead(link to Guardian obit)”:,3604,1070635,00.html only last month—played a small, if mem­o­rable, part. Sayle sums up the Gen­er­al­isi­mo with a sour rec­ol­lec­tion bq. Gen­er­al Joseph “Vine­gar Joe” Stil­well, […]

Ethics of witholding information

It turns out to be sur­pris­ing­ly com­mon. Accord­ing to the Octo­ber Harper’s index bq. Per­cent­age of U.S. doc­tors who say they have not told patients about a treat­ment because their insur­ance didn’t cov­er it : 31 In major pub­lic hos­pi­tals, the pro­vi­sion of expen­sive med­ical treat­ment to pub­lic patients drains fixed bud­gets. In some cas­es, […]