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Houellebecq’s Unfinished Critique of Liberal Modernity

For a brief moment, just before the end of Michel Houellebecq’s latest novel Sérotonine, a ray of hope seems to galvanize its protagonist. For a short while he seems to recover his lust for life. Having languished for years without a sense of purpose…

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Trade, Antitrust, and Restoring Domestic Competition

Will more restrictive trade policies harm the U.S. economy by shielding domestic businesses against competition? That’s what standard economic theory holds, insisting that pressure from foreign rivals is needed for U.S.-based businesses to continue to in­novate, to create the highest quality goods, and to sell them for the lowest possible prices. Although this theory has…

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National Developmentalism: From Forgotten Tradition to New Consensus

In response to the rise of “populism,” members of the Washington establishment have adopted a reassuring way to frame the ques­tion of America’s proper relationship to the world. As they see it, Americans are divided into two camps—open or closed, globalist or nationalist, interventionist or protectionist. In this framing, the closed, nationalist, and protectionist camp…

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Financing Advanced Manufacturing: Why VCs Aren’t the Answer

In 2013, a group of MIT researchers published a study examining the business trajectory of 150 start-up firms that grew out of technology developed at the university. These were production-related “hardware” firms that actually manufactured things. The firms were able to attract early stage venture capital (VC) funding. They were also able to find the…

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Automation Anxiety in an Age of Stagnation

A cursory glance at Google Trends reveals that interest in robot­ics and automation was far less intense throughout the last decade than interest in proposed solutions to the problems that these tech­nologies are supposedly creating, especially universal basic in­come (UBI). Automation—the process of applying technology and organ­ization to do more with less, with robotics being…

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The Illiberal Arts

For thousands of years, the liberal arts were not liberal, and that is why they are increasingly unwelcome in our time. An honest study of the past is unsettling in a liberal age, because a person who learns to venerate earlier cultural traditions, from Homer to the baroque, may come to venerate the values to…

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Losing Momentum: A Warning from the Fracturing British Left

In mid-November 2018, Alexandra Ocasio-Cortez issued a rallying cry that was not given sufficient attention. She called on left-wing activists to take over the Democratic Party. Her chief of staff Saikat Chakrabarti went one step further, openly calling on left-wingers to primary sitting Democrats. Together with YouTube personalities Cenk Uyger and Kyle Kulinski, Chakrabarti is…

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The New Silk Road and the Return of Geopolitics

The grand design came in 2013 from President Xi Jinping himself. The goal was to launch the project “One Belt One Road,” or OBOR, across and around Eurasia, and to ensure mutually beneficial cooperation among all participating countries. At the time, the announcement of OBOR received little if any attention from European observers, distracted as they were by the difficulties of emerging from the euro crisis and the foreign policy challenges of Iran and Russia…

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How the Financial Crisis Did Not Change the World

The tenth anniversary of the 2008 financial crisis came and went with surprisingly little reflection. Adam Tooze’s Crashed: How a Decade of Financial Crises Changed the World was perhaps the most celebrated attempt to analyze the crisis with the benefit of hindsight. Unfortunately, much of the book offers little more than a chronology of newspaper headlines, displaying superficial…

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It’s Economic Strategy, Stupid

America’s international economic policy is in crisis. For decades, policymakers believed that liberalizing international trade would be a rising tide that lifted all boats. While some might lose out from competition with foreign trade in the short run, the economy would grow in ways that would allow those people to adapt and adjust, ultimately finding…

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