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Infrastructure (Economics)

Crossing Guards

The Ambassador Bridge arcs over the Detroit River, connecting Detroit to Windsor, Ontario, the southernmost city in Canada. Driving in from the Canadian side, where I grew up, is like…

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Bumpy Ride

One sunny winter afternoon in western Michigan, I took a ride with Leon Slater, a slight sixty-four-year-old man with a neatly trimmed white beard and intense eyes behind his spectacles.…

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A Bit of Good News

It’s dangerous to express optimism about the economy these days. Europe’s financial markets remain fragile. China, which supports much of the world’s economy through imports, is too dependent on highly…

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The Next Bubble

A financial bubble1  is a market aberration manufactured by government, finance, and industry, a shared speculative hallucination and then a crash, followed by depression. Bubbles were once very rare—one every hundred…

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November 1859