EconAir

President Trump Might Washington, like Rome, fall victim to imperial overstretch? Could military force abroad eventually have to be withdrawn because of bankruptcy at home? Might the whole idea of America eventually be challenged and destroyed by some charismatic new faith: some fundamentalist variant on Christianity? Or will nature disrupt America’s new world order? Robert Harris, "Does Rome's fate await the US?," The Mail on Sunday , October 12, 2003 (1) INTRODUCTION:  FOREIGN POLICY AND DOMESTIC POLITICS This post will discuss American foreign policy, with an emphasis on economic aspects. It will focus on the structure of America's trade treaties and policies, and the interaction of America's foreign economic policies and domestic politics. The companion post,  "Pax Americana": The World That America Made , the will discuss America's projection of global power and influence through military power, security arra...

Breaking Away - Now What? INTRODUCTION No one, especially the British leaders who advocated Great Britain leaving the European Union, have any idea what is going to happen.  But the short-run economic problems from the breakup are easier to deal with than the underlying social and political problems.  It is these underlying problems that could tear the EU apart.    PRELIMINARY THOUGHTS Some preliminary thoughts on Britain breaking away from the European Union: Direct economic effects will be minimal, both for Britain and the EU.      London will remain the financial capital of Europe.  The alternative isn't Frankfurt; it's  New York.      Much of Britain's trade with EU is part of complicated supply chains within or between  multinational firms.  This will also continue.  Both sides need each either.      This will accelerate the current trade negotiations between t...