Why the left should argue for more immigration but not open borders | Carlo Invernizzi-Accetti

The US needs more immigrants to maintain current levels of economic growth and welfare provision but that doesnt mean unlimited migration The idea of proposed wall on the border with Mexico (whose construction actually regulation on immigration flows. Yet this is a weak position, for at least two reasons. First, states presuppose borders. Failing to control borders is not an immigration policy, but the lack of one. Its also a position likely to reinforce the already widespread perception that immigration …

To rescue democracy, we must revive the reforms of the Progressive Era

The playbook for taming industrial capitalism already exists. Its the essential starting point for reform today In Democracy in America, Alexis de Tocqueville offered a prescient warning for the friends of democracy. In a chapter called How Aristocracy Could Issue from Industry he observed that industrial capitalism would create economic inequality between owners and wage-workers and divide them culturally, morally, and socially. With the rise of industrial capital, Tocqueville feared there would be no genuine relationships between these two emergent …

White House insists Trump not having second thoughts on China trade war

Asked he is rethinking tariffs, president says: Sure. Why not? only for press secretary to say he meant he regrets not raising tariffs higher Donald Trump admitted on Sunday to having second thoughts about raising tariffs against China, sparking brief hopes of a possible truce in the trans-Pacific trade war. But his spokeswoman later insisted the only regret the president had was not imposing even greater tariffs. It appeared to be the latest incident in a White House pattern, in …

Trump’s threat to tax French wines labelled ‘completely moronic’

Retaliatory proposal follows Frances announced levy for US technology companies A threat by Donald Trump to tax French wines in retaliation to a proposed levy aimed at big US technology companies is completely moronic, Frances agriculture minister has said. French plans to place a 3% tax on the GAFAs Google, Amazon, Facebook and Apple drew an angry response from the US president, who warned last week that his administration would announce substantial reciprocal action. They shouldnt have done this, Trump …

How the state runs business in China

The long read: Much of modern Chinas epic growth was driven by private enterprise but under Xi Jinping, the Communist party has returned to being the ultimate authority in business as well as politics When China, the party is the ultimate authority. In the early optimistic glow of Xis ascension to the leadership, a number of western commentators talked up his appreciation of markets. After all, from 1985 to 2007, Xi had served in two provinces, Fujian and Zhejiang, which …

If the economy is so good, why are some truckers doing so poorly?

Is the economy to blame? Sure. But theres something else behind the trucking industrys woes: mismanagement Times are good right? Economic growth is strong. Unemployment is low. Business and consumer confidence remains high. Its pretty easy to say that most small business owners are doing pretty well this year. Except if youre in the trucking business. Thats according to a number of recent reports that cover the freight industry. They are not great. For example, a regular analysisSupply Chain Drive …

Christine Lagarde will have to confront Berlin if shes to save the euro | Yanis Varoufakis

The European Central Bank chief must call for an end to the eurozones suicidal fiscal rules, says Yanis Varoufakis, former finance minister of Greece Christine Lagarde was a key member of the infamous closure of Greeces banks. Now, four years later, Lagarde has been anointed to cut our public debt was right and proper. Lagardes priority was holding the troikas line and minimising any challenge to its collective authority. The question now is whether Lagardes skills are in tune with …

France hits back at US over tax on digital giants

US has said it will investigate planned levy on firms such as Amazon and Facebook France has hit back at a US investigation into a Facebook and Amazon are able to book profits in low-tax countries no matter where the revenue originates from. Paris has pledged to drop its tax as soon as an international agreement is reached at the Organisation for Economic Co-operation and Development to overhaul decades-old cross-border tax rules for the digital era. lyse officials have called …

Just like the 1930s, this trade war has the potential to turn nasty

Echoes of that decade are getting uncomfortably loud as Trump imposes tariffs and the eurozone devalues its currency A trade war followed by a currency war. Tariffs used as a protectionist weapon followed by attempts to secure a competitive advantage by exchange rate manipulation. That was the story of the 1930s and, the way things are shaping up, it could easily be the story of the 2020s as well. Consider the historical parallels. In 1930, the US Congress passed the …