Current US admin. tries to force EU open its markets for US tech based its military might. A kind of "opium war" this time for mental "opium", like social media and uncontrolled AI.

The gravest risk for Europe is that past convergence with the US was based on exports to US (and China). Post covid lower growth rate explained by fiscal restrain. EU needs its own growth regime.

Erik did not mention the important fact that Germans work much less houts. On the basis of hours worked German GDD is similar to that of US.

Holochain for example would work as well.

For a short exposition see Harvard Professor Stephen A. Marglin www.latimes.com/archives/la-...

Even without capital mobility, Ricardo's theory supposed full employment/capacty output and quantitiy theory of money. And one single symbiotic household/company as agents in each country.

Agree. Nonetheless, I am afraid that a large section of that said class still shares his media macro views.....

Janan is not economist. He relies on the framework what Wren-Lewis call media macro.

Economist Brad Setser's testimony on drug industry: www.finance.senate.gov/imo/media/do...

The large export surplus by Ireland to the US in drugs is just the result US drugmakers offshoring to Ireland.

Traffic is not identical with private car traffic. The aim was to diminish individual car traffic and helping the sustainable traffic of the waste majority.

Sorry, not just for Andrew: it is increasingly strange seeing smiling photos of people posting content like this one. The habit of taking smiling photos is a remnant of a distant optimistic era from decades ago. It tells a lot about our age.