Author: Jim

**** NYTimes: Larry Summers Shares the Blame for Inflation

Larry Summers Shares the Blame for Inflation nyti.ms/3M80vEx


“In a 2020 interview with The American Interest, he acknowledged the need to develop industrial capacity in the U.S. “In general, economic thinking has privileged efficiency over resilience, and it has been insufficiently concerned with the big downsides of efficiency,” Mr. Summers said. “Going forward we will need more emphasis on ‘just in case’ even at some cost in terms of ‘just in time.’ ”

But it’s not enough for him to simply acknowledge the downsides of efficiency. There is a live debate over how to solve the problem going on right now, as the Biden administration takes the first steps toward prioritizing resilience by attempting to re-regulate shipping companies, encourage competition to weaken corporate pricing power, and support domestic manufacturing. Mr. Summers shouldn’t be an obstacle to this effort or even an interested bystander, watching it unfold; he should be an active enthusiast for cleaning up the mess he made.”

***** NYTimes: Why Is Putin at War Again? Because He Keeps Winning.

Why Is Putin at War Again? Because He Keeps Winning. nyti.ms/3HoYMH7

“ It was once popular to mock the Russian president for his 19th-century worldview, but his use of military power to bolster Russia’s influence has worked in the 21st century. The West’s assumption that the arc of history naturally bends in its direction is looking naïve. So, too, is the decision to let our military advantage slip. Soft power and economic influence are fine capabilities to have, but they cannot stop Russian armor as it rolls toward Kyiv.”