WASHINGTON — Welcome to what I’ve called “the politics of self-esteem.” By this, I mean that increasing numbers of people, on both the right and left and most with good intentions, have become politically engaged because it makes them feel better. It raises their self-esteem. This phenomenon predates Donald Trump’s candidacy, but it helps explain […]
Robert Samuelson
Posted inOp-Eds
Startup slump contributes to sluggish economy
WASHINGTON — There’s more discouraging news about American business — specifically about entrepreneurship. We confidently assume that we have the world’s most entrepreneurial nation, and the proof seems overwhelming. Google, Facebook and Twitter are but three (relatively) recent startups that have become corporate titans. Before them, there were others: Microsoft, Intel and FedEx. We seem […]
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Fed rate increase will have little impact
WASHINGTON — Barring an unforeseen calamity, the Federal Reserve will raise short-term interest rates this week. Among Fed watchers, this is known as “liftoff.” The analogy is misleading. Short-term rates have been stuck near zero since late 2008, but they aren’t about to rocket upward. The anticipated increase is a tiny 0.25 percentage points. That’s […]
Posted inOp-Eds
Cyberterrorism a very real threat
WASHINGTON — When it comes to cyberwar and cyberterrorism, we need to think the unthinkable, says veteran TV journalist Ted Koppel. And for Koppel, the unthinkable is this: Someone hacks into the nation’s electric power grid and causes large parts of it to crash for a prolonged period. Anyone who has endured a blackout from […]
Posted inOp-Eds
Taxing multinationals a problem for next president
WASHINGTON — Whoever wins the White House next year will have to deal with an issue of almost-impenetrable complexity and contentiousness: How to tax multinational companies? On the one hand, large global firms — which have never been shy about minimizing their taxes through deft accounting maneuvers — are becoming more aggressive. On the other, […]
Posted inOp-Eds
Millennials need to push for their future
WASHINGTON — An enduring puzzle of our politics is why there isn’t more generational conflict. By all rights, younger Americans should be resentful. Not only have they been tossed into the worst economy since the 1930s, but there’s an informal consensus that the government, whatever else it does, should protect every cent of Social Security […]
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U.S. faces a new battlefield
WASHINGTON — The horrific massacre in Paris reminds us of the Achilles’ heel of American foreign policy. Ever since World War II, our foreign policy has rested on an oft-silent presumption that shared prosperity is a powerful and benevolent force for social stability, peace and (often) democracy. All the emphasis on free trade and globalization […]
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Government holds the uppper hand
WASHINGTON — One of the most interesting and uncovered stories these days is the survival of Fannie Mae and Freddie Mac — the giant housing entities created by the government and known collectively as the GSEs (for Government-Sponsored Enterprises). On Sept. 6, 2008, nine days before the Lehman Brothers bankruptcy, Treasury Secretary Henry Paulson put […]
Posted inOp-Eds
Free speech belongs to everyone, regardless
WASHINGTON — If you care about free speech, you should pay attention to the campaign now being waged against ExxonMobil. More than 50 environmental and civil rights groups have written Attorney General Loretta Lynch urging her to open a “federal probe” of the giant energy firm. Bernie Sanders and Hillary Clinton have also joined the […]
Posted inOp-Eds
Both parties offer empty rhetoric on taxes
WASHINGTON — There is no tooth fairy. Republicans and Democrats take note. Taxes will surely continue to play a big role in the presidential campaign. The Republicans contend that cutting rates will do the trick; the pickup in economic growth will generate additional tax revenues. Democrats retort that raising taxes on the rich will provide […]