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The Global Market

The Wisdom of the Marketplace

I understand as well as anyone the impulsive, almost instinctive desire to want to use government – in the form or tariffs, import restrictions, subsidies, legislation, etc. – to try to limit the impact of cheap (and often subsidized) foreign competition and the incursion of (often below market-value) offshore products. But time and time again, [...]

Do Unions Finally Smell the Coffee?

A friend of mine, a union leader here in Chicago, once mentioned to me that he loved to drive around and count the number of cranes along the city’s skyline because it gave him a sense of how many jobs had to be filled for his rank and file members. But even as he was [...]

On Germany, Manufacturing and World Cup Success

So Germany won the World Cup. Bravo for them. And if you think there is a hint of sarcasm or jealousy in my tone…well, you may be right. Hey, I wanted the U.S. to win the World Cup. I admit it. Wanted it badly, as a matter of fact. But you know what?  The Americans [...]