Larry Summers on the Rise of China and India
The United States is entering uncharted waters as a superpower, as it slowly climbs out of a crippling recession and faces an electoral showdown this fall between cautious globalism and a desire to retrench its economy against external competition from emerging third-world dynamos.
President Obama in his State of the Union address earlier this year highlighted mildly protectionist measures to shore up US manufacturing against cut-throat competition in Asia, through tax credits and a task force that would investigate potentially unfair trade practices.
Meanwhile Mitt Romney, former governor of Massachussettes and frontrunner in the Republican presidential primary, has strategetically stoked fears among party voters about falling behind China as part of a permanent American decline. In a February op-ed in The Wall Street Journal, Romney proclaimed:
Unless China changes its ways, on day one of my presidency I will designate it a currency manipulator and take appropriate counteraction. A trade war with China is the last thing I want, but I cannot tolerate our current trade surrender.
Harsh words for America's most important trading partner, highlighting our schizophrenic stance toward an mushrooming economic giant that we rely on to produce cheap goods for US consumers while at the same time fearing that its rising prosperity will ultimately knock us off the pedestal of the only remaining superpower.
Former senator Rick Santorum, current underdog in the Republican presidential primary, is perhaps responsible for ratcheting up anti-China rhetoric by declaring the following during an October, 2011 debate: I want to go to war with China and make America the most attractive place in the world to do business."
Young people could even end up less anxiety-ridden, thanks to newfound confidence
- The coronavirus pandemic may have a silver lining: It shows how insanely resourceful kids really are.
- Let Grow, a non-profit promoting independence as a critical part of childhood, ran an "Independence Challenge" essay contest for kids. Here are a few of the amazing essays that came in.
- Download Let Grow's free Independence Kit with ideas for kids.
Philosophers like to present their works as if everything before it was wrong. Sometimes, they even say they have ended the need for more philosophy. So, what happens when somebody realizes they were mistaken?
Sometimes philosophers are wrong and admitting that you could be wrong is a big part of being a real philosopher. While most philosophers make minor adjustments to their arguments to correct for mistakes, others make large shifts in their thinking. Here, we have four philosophers who went back on what they said earlier in often radical ways.
We must rethink the "chemical imbalance" theory of mental health.
- A new review found that withdrawal symptoms from antidepressants and antipsychotics can last for over a year.
- Side effects from SSRIs, SNRIs, and antipsychotics last longer than benzodiazepines like Valium or Prozac.
- The global antidepressant market is expected to reach $28.6 billion this year.
Or is doubt a self-fulfilling prophecy?