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Lewis Hamilton denies blame for Charles Leclerc clash
Lewis Hamilton has appeared to deny any culpability for his first chicane tangle with teammate Charles Leclerc at the Italian Grand Prix. The two Ferrari drivers duelled at the start of what was a disappointing home race where Hamilton finished sixth, and Leclerc retired on lap one from a heavy crash.
Food makers rethink innovation
Food Business News survey details key drivers behind R&D strategies.
Car crashes into front of business on Azalea Garden Road in Norfolk
An SUV crashed into a business on Azalea Garden Road in Norfolk Sunday evening after the driver mistakenly accelerated while trying to park, according to police.
Verisk: One atmosphere, one framework – how science and AI connect views of global risk
A single-system approach to catastrophe modelling is required to capture the interconnected atmospheric drivers that shape risk across regions and perils, argues Verisk’s Jay Guin.
Pato O’Ward Makes History at Milwaukee
The Snap-On Makers and Finders 250 came to an end, the checkered flag waved. The orange and black No. 5 of Pato O’Ward drove across the finish line in first place. Fans in papaya orange jumped with joy as their favorite driver won the race. However, this wasn’t the first win from O’Ward that day. …
Caesars Entertainment (CZR) Stock Could Be Undervalued As Shares Fell 72%
Caesars Entertainment stock has delivered a steep 71.5% decline over the past five years, yet current checks point to a company that screens cheap on both intrinsic value estimates and market multiples. The share price has fallen 71.5% over the past five years, which leaves long term holders with heavy losses and raises the question of whether the current price reflects overly low expectations. The key upside driver is whether Caesars Entertainment can convert its gaming and digital...
Idaho passenger raped by Lyft driver sues the ride-sharing company
BOISE, Idaho — An Idaho woman who was raped by her Lyft driver is suing the popular ride-sharing company, seeking to hold it liable. The woman was strangled and raped
Alpine's Gasly beats Russell to stunning Monza pole
Alpine driver Pierre Gasly takes a stunning pole position at the Italian Grand Prix, ahead of Mercedes' George Russell.
Electric fire truck purchases are driven by employee health and climate concerns
Employee health and climate concerns are the key drivers of municipal purchases of electric fire trucks.
US Naval Academy midshipmen take 'driver's ed' on training boats
Midshipmen at the US Naval Academy put their classroom knowledge into practice on training vessels like YP 700. Take a look.
Shoppers buying online while drunk is big business—but who is responsible?
One Sunday morning, Juliet* woke up to a delivery driver with a large package that she had no recollection of ordering. She was quick to dismiss it as an e-commerce mistake before the card inside helped ...
F1 Live Event Set for Milan in 2027
The event, which will combine F1 drivers with live entertainment and music, will be held in Milan next February.
Ex-Fox Sports analyst Mark Sanchez plans guilty plea to charges stemming from fight outside hotel
Former Fox Sports analyst Mark Sanchez plans to plead guilty to charges ahead of a trial stemming from an October 2025 fight with a truck driver outside an Indianapolis hotel.
Ex-Fox Sports analyst Mark Sanchez plans guilty plea to charges stemming from fight outside hotel
Former Fox Sports analyst Mark Sanchez plans to plead guilty to charges ahead of a trial stemming from an October 2025 fight with a truck driver outside an Indianapolis hotel.
Ex-Fox Sports analyst Mark Sanchez plans guilty plea to charges stemming from fight outside hotel
Former Fox Sports analyst Mark Sanchez plans to plead guilty to charges ahead of a trial stemming from an October 2025 fight with a truck driver outside an Indianapolis hotel.
Ex-Fox Sports analyst Mark Sanchez plans guilty plea to charges stemming from fight outside hotel
Former Fox Sports analyst Mark Sanchez plans to plead guilty to charges ahead of a trial stemming from an October 2025 fight with a truck driver outside an Indianapolis hotel.
Ex-Fox Sports analyst Mark Sanchez plans guilty plea to charges stemming from fight outside hotel
INDIANAPOLIS (AP) — Former Fox Sports analyst Mark Sanchez plans to plead guilty to charges ahead of a trial stemming from an October 2025 fight with a truck driver outside an Indianapolis hotel, according to court records filed Thursday.
Scientists Expose Unexpected Driver of the May 2024 Superstorm
Even though the solar wind was unusually dense during the May 2024 superstorm, ions from the solar wind contributed very little to the ring current, marking the first time both were observed simultaneously during a storm of this magnitude.
Good Good Golf leadership collapses following viral Callaway ad backlash
Good Good Golf CEO Matt Kendrick and president Joe Flannery have stepped down from the media company following intense public condemnation over a promotional advertisement for a new Callaway driver, according to multiple reports. The commercial depicted a man pushing a woman to the ground and warning her not to touch the golf club. Good Good co-founder Nahid Giga has been named interim CEO, according to details from an internal memo first reported by Business Insider.
Waymo expands driverless robotaxi service to 3 major US cities
Alphabet-owned Waymo has opened public robotaxi access in Denver, San Diego and Tampa, bringing its fully autonomous ride-hailing service to 14 cities.
Tiger Woods plea deal includes suspended driver’s license for five years
Tiger Woods accepted a plea deal in his DUI case. His driver’s license will be suspended for five years, and he will pay a $1,500 fine.
Tiger Woods takes plea deal for reckless driving in DUI case, loses driver's license for five years
Woods changed his plea to avoid jail time, though he will not escape penalty
How Medicaid Accountable Care Organizations Advance Maternal Health Care Quality: Drivers of Change and Challenges From the Perspective of ACO Leaders, Clinicians, and Care Coordinators
In the wake of a US maternal health crisis, Accountable Care Organizations (ACOs) may be a key opportunity to improve maternal health care.
Tiger Woods Strikes Plea Deal In DUI Case—Loses License For 5 Years, Avoids Jail
Billionaire golfer Tiger Woods will lose his driver’s license for five years after accepting a plea deal that reduced his driving under the influence charge to reckless driving.
NVIDIA Shuts Down RTX 5000 Power Limit Control OC in Latest Driver Update
We recently reported on the open-source overclocking tool, mVolt+, unlocking power limit control on NVIDIA GeForce RTX 5000-series GPUs, allowing certain GPUs, like the RTX 5090, to draw up to 125 W of additional power and enabling significantly higher core clock speeds as a result. With the...
Donald Driver named ambassador for statewide health initiative by Network Health
GREEN BAY — Network Health launched a statewide health initiative, From Teeth to Toes, at the Packers Hall of Fame on Thursday, Aug. 20, with Donald Driver as an ambassador, signing on to take the …
“Zombie” Cells Reveal a Surprising New Driver of Chronic Inflammation
Dysfunctional mitochondria may drive age-related inflammation by helping switch on inflammatory genes, and blocking SLC25A1 reduced that activity. As people age, senescent cells accumulate in the body. These so-called “zombie” cells have stopped dividing but remain metabolically active, releasing inflammatory molecules that can contribute to persistent inflammation associated with frailty, cardiovascular disease, cancer, neurodegeneration, and
Tom Cruise announces a follow-up film to 'Days of Thunder' to hit theaters in 2028
Tom Cruise will reprise his role as NASCAR driver Cole Trickle in a follow-up to “Days of Thunder.”.
Tom Cruise announces a follow-up film to 'Days of Thunder' to hit theaters in 2028
Tom Cruise will reprise his role as NASCAR driver Cole Trickle in a follow-up to “Days of Thunder.”.
Mission Health, Monarch, Gurwin Execs Weigh In on Hiring Drivers in the Nursing Home Sector
Survey changes, value-based care and other regulatory updates are shaping how operators hire and build clinical teams. As regulatory priorities shift and
Red Bull hands F1 test to protege as it assesses Racing Bulls driver line-up
Nikola Tsolov has completed his first F1 test, driving for Racing Bulls at Imola, while Liam Lawson was on Pirelli tyre test duty for Red Bull at Mugello
Hamilton handed stern warning over handling of Ferrari frustration
Former Formula 1 driver Ralf Schumacher believes Lewis Hamilton should have handled his radio frustration at Zandvoort differently, arguing that a driver of his age, experience and standing within the sport should have shown greater restraint. Alongside Lando Norris’ victory, one of the main talking points to emerge from the Dutch Grand Prix was Lewis Hamilton’s frustration with Ferrari.
Biggest drivers of chronic absenteeism are physical and mental health issues
Driver provides priceless service to mental health patients
Blue Olson is a driver for Sanford behavioral health, and it’s his job to bring patients to their appointments in Bemidji.
Apple Wallet Driver's License Feature Just Launched in 15th U.S. State
Starting today, Virginia residents can add a digital version of their driver's license to the Apple Wallet app on the iPhone and Apple Watch. The digital ID can be used to display proof of identity or age at TSA checkpoints in select airports, at select businesses, and in select apps, but the number of places where it is accepted is still quite limited.
Fire breaks out at Des Moines business; no injuries reported
Firefighters knocked down a large blaze at Bituminous Materials in Des Moines after drivers spotted heavy smoke and flames.
Oldsmar business fuels interest in Japanese cars
Japanese cars are winning over more drivers around the Tampa Bay area, and one Oldsmar business is helping fuel the fascination.
AMD RDNA 4m Firmware Published For Linux Ahead Of Launch
In addition to AMD's Friday afternoon big code drop of all the UALink enablement patches for the Linux kernel and the AMDGPU driver, there was another big drop from AMD to end out the week..
Dune and dusted - F1 drivers mourn "old school" Zandvoort loss
On the eve of the Dutch Grand Prix's Formula 1 swansong, drivers are waving goodbye to one of their favourite circuits on the calendar
Vancouver's paid parking pushes north, but businesses fear lost sales
Vancouver plans to expand seven-day paid parking north of Evergreen into Uptown, but not before July 2027. Businesses fear lost customers, drivers want more spaces, and the city will survey 1,000 people first.
“Defiantly Hopeful” - Inside The Movement To Transform Latino Representation In Business
AVANCE recently announced its future plans, including conferences and the acquisition of Hispanic Executive magazine, aiming to elevate Latino leadership. Founders Gary Acosta and Pedro Guerrero highlighted the paradox of Latinos being economic drivers and cultural influencers despite underrepresentation and vilification
Ormond-by-the-Sea restaurant says A1A construction is hurting business
A Volusia County restaurant says an ongoing road construction project has sharply reduced its parking and is hurting business, while state transportation officials say the changes are intended to improve safety for drivers and pedestrians.
USF grad's '9Yaps' app connects students to local business deals
A former food delivery driver turned entrepreneur is finding new ways to connect students with nearby local businesses through a custom-built mobile app called 9Yaps.
The Lucid Air Air Sapphire Beats Genuine Mid-Engine Supercars From 0-200-0 MPH
Big luxury sedans aren't supposed to be capable of such nutty performance but the fastest Lucid put on a show for Car and Driver.
Climate change is cooking Europe’s oceans, scientists find
Global warming is the main driver of this year’s marine heat waves, with knock-on effects for ecosystems and extreme weather.
Lewis Hamilton Reportedly Renews Ferrari Contract Ahead of Monza
The Formula 1 driver market just received a massive update regarding the grid’s most decorated champion. Lewis Hamilton has reportedly renewed his contract with Scuderia Ferrari, guaranteeing his presence in Maranello well beyond his initial two-year commitment. According to the…
San Francisco Business Times Recognizes Blue Shield’s Sustainability Impact
"Clean air, safe neighborhoods, and resilient communities are powerful drivers of health."
California business owners, drivers fume at new tire regulations: 'Everything is going to hell'
Apple Wallet driver's license: which states are next?
Seven more states are working on Apple Wallet driver's license support, including Kentucky and North Carolina. Here's where it's coming next.
Fairphone brings the repairable Fairphone Gen 6+ to the US
Fairphone sells components like the USB port and screen, all swappable with a single torx driver.
Computer Science Student wins NASA Space Grant
Moo Muhammad, a Computer Science student, is shooting for the stars, rising from a ride-share driver who once lived in his car to become the winner of a highly competitive scholarship. He’s the latest…
Ford Motor Co. donates vehicles to help veterans access health care
DAV (Disabled American Veterans) has announced a generous $200,000 donation from Ford Motor Co. to help support free transportation to medical appointments for America’s ill and injured veterans. A special check presentation took place Aug. 1 at the 2026 DAV and Auxiliary National Convention in Orlando, Florida. The gift will fund the purchase of five new vehicles for the DAV Transportation Network, which operates a nationwide fleet through which volunteers provide disabled veterans with free transportation to and from Department of Veterans Affairs medical appointments. Ford Motor Co.’s support of America’s veterans began in 1922 when Henry Ford provided 50 Model Ts to help disabled World War I veterans attend the second DAV National Convention, held in San Francisco. “Ford Motor Co.’s generosity allows us to continue ensuring veterans can get reliable transportation to their medical appointments,” said DAV National Commander Coleman Nee. “We are grateful for their continued support that allows us to provide hundreds of thousands of rides each year.” Since 1987, Ford Motor Co. has donated 279 vehicles to DAV’s fleet. Last year, the DAV Transportation Network provided more than 230,000 rides to help veterans get to their medical appointments. Volunteer drivers covered over 9.6 million miles and invested more than 614,000 volunteer hours.
Beyond Access: Rethinking the Digital Health Divide
A new framework highlights five drivers of meaningful digital health inclusion and equity.
North Africa's 'Youth Bulge' Will Remain a Significant Factor in the Region's Politics
Large numbers of young people in North Africa are not inherently destabilizing, but weak job creation and deteriorating public services will deepen social polarization, and make young people an increasingly important driver of economic pressure, protest, violence and migration. In 2025, approximatel
Community feeling impact of SF's Broadway Tunnel closures as major seismic upgrade project underway
Drivers, residents and business owners are preparing for a potentially challenging Monday commute as a major construction project at San Francisco's Broadway Tunnel gets underway.
Linux 7.2 Released With Faster I/O, New AMD & Intel Driver Improvements
Linus Torvalds just released Linux 7.2 as stable! After a very busy kernel cycle due to the increased patch and reporting churn due to AI/LLM ages, Linux 7.2 managed to make it out today on-schedule for this feature-packed kernel
Linux Kernel 7.2 Officially Released, This Is What’s New
Linux kernel 7.2 is now available to download with new features, improvements, and enhanced hardware support through new and updated drivers.
Waymo is taking a bite out of rideshare. Driver impact is hard to see.
Waymo's share of gross bookings in SF, LA, and Phoenix are in the high teens, data showed. Experts say the impact on drivers is still murky.
5 Harbor Freight Tools You Can Only Buy In-Store
This socket tool set, compound miter saw, drill/driver, oscillating multi-tool, and jet fan blower are only available in Harbor Freight stores.
Demolition derby drivers bring passion to Rockingham County Fair
Devin Armstrong had been the victor of many demolition derbies.
Marvel unveils X-Men cast: Adam Driver, Inde Navarrette, and more set for May 2028 film
Inde Navarrette, Christopher Abbott, and Adam Driver headline Marvel's rebooted mutant team, arriving in theaters May 5, 2028.
Adam Driver will play Mister Sinister and Inde Navarette will go Rogue in Marvel’s ‘X-Men’ reboot
Adam Driver will join the Marvel Cinematic Universe as Mister Sinister in Disney and Marvel's “X-Men” reboot.
Ex-Dolphins Star Tua Tagovailoa Gets Clear Falcons QB Outlook
Former Miami Dolphins QB Tua Tagovailoa is looking for a fresh start with the Atlanta Falcons to prove that he can still be a starter in the NFL. Moreover, Tagovailoa is in the driver’s seat to run away with the Falcons’ starting job.Michael Penix Jr. is still working his way back from the left knee […] The post Ex-Dolphins Star Tua Tagovailoa Gets Clear Falcons QB Outlook appeared first on HEAVY.
'X-Men' lures Adam Driver as archvillain, 'Obsession' star Inde Navarrette
ANAHEIM, Calif. — The X-Men are finally assembling in the Marvel Cinematic Universe, with a surprising archvillain.
'X-Men' movie recruits Adam Driver as Marvel's archvillain Mr. Sinister
ANAHEIM, Calif. — The X-Men are finally assembling in the Marvel Cinematic Universe.
Marvel's 'X-Men' movie recruits Adam Driver as archvillain Mr. Sinister
ANAHEIM, Calif. — The X-Men are finally assembling in the Marvel Cinematic Universe.
Coe warns on interference in sport: Keep politicians on the bus but out of the driver's seat
World Athletics president Sebastian Coe has discussed topics including track and field’s ban on Russian athletes, private equity in sports and FIFA’s credibility crisis following a controversial overturned red card at the World Cup
RUF’s Ehra Is The Analog 911 Porsche Won’t Sell You
Named after the track where the Yellowbird made history, RUF's Ehra is a deliberately compact, driver-focused weapon
Former NFL Lineman Jared Odrick Finding 'New Purpose' In Racing
NFL lineman-turned-driver Jared Odrick has found new meaning in life after trading in his cleats for cars.
CRISPR roadblocks: Scientists identify genes blocking gene therapy success
Like a delivery driver navigating crowded city streets, a gene-therapy-toting lipid nanoparticle faces a gauntlet of potential detours on its journey toward a cell's nucleus. First, there's entering the ...
11 Tips from Business Leaders on How to Let Workers Lead the Way
Businesses on this year’s Best Workplaces list put employees in the driver's seat. Here’s how that strategy pays off.
Miami DDA awards 15 new business incentive grants
The Miami Downtown Development Authority (Miami DDA) has approved a new round of business incentive grants, supporting the launch or expansion of 15 businesses across the Arts & Entertainment District, Brickell, and the Central Business District. The program has proven a driver of economic activity, helping 40 businesses open their doors in the urban core
Microsoft Patches 398 Flaws Including a Windows Driver Zero-Day Under Active Attack
Microsoft patches 398 flaws, including exploited CVE-2026-68820 that lets local attackers reach SYSTEM, plus four unauthenticated 9.8 RCEs.
Homeland Security intensifies pursuit of noncitizens on voter rolls
Immigrants who said they inadvertently registered to vote while obtaining or renewing driver’s licenses are increasingly facing deportation under the Trump administration.
New "Madden 27" turns you into a news junkie
Madden's refresh reflects sports media's reality: despite heavy layoffs and reorganizations, news remains a vital driver of entertainment and information for fans, teams and athletes alike.
New "Madden 27" turns you into a news junkie
Madden's refresh reflects sports media's reality: despite heavy layoffs and reorganizations, news remains a vital driver of entertainment and information for fans, teams and athletes alike.
Haywood Road repaving begins as west Asheville businesses and drivers brace for disruption
Starting today, a 2-mile stretch of Haywood Road in west Asheville will close for repaving work.
Kyle Shanahan Provides Encouraging Update Regarding Coaching Duties
It's been an eventful offseason for the San Francisco 49ers and head coach Kyle Shanahan. The team has had to deal with the ongoing Brandon Aiyuk drama, plenty of injuries at training camp, and Shanahan's offseason car wreck. The head coach was driving his Tesla on July 14 when he crashed into another driver.
Speeding driver plows through South St. Louis County sidewalk, foot from crashing into a business
St. Louis County Police said the incident happened around 2:40 a.m. Aug. 7. The driver admitted to speeding and losing control to officers on the scene, according to a statement from police.
Caught on cam: Car crashes into Stuart business, injuring driver
A car crashed into Pirate Firearms on Southeast Indian Street in Stuart Thursday afternoon, seriously injuring the driver and prompting a response from emergency services.
AHF Launches Health and Housing Newsletter
There is growing recognition that housing is more than a roof over someone’s head—it’s a critical driver of health and well-being. | The newsletter comes as the two sectors are working together for better resident, business, and community outcomes.
The Next Generation: Jak Crawford
Throughout 2026, Motorsport is introducing you to the most promising youngsters on the single-seater scene. Meet Jak Crawford, Formula 2’s 2025 runner-up and Aston Martin’s reserve driver
Why truckers always seem to be on the phone while they drive
Social media is linked to feelings of isolation, but less so for truckers. They benefit from long phone calls and connections on apps like FaceTime and WhatsApp.
Why truckers always seem to be on the phone while they drive on the highway
What's the best way for truckers to maintain friendships while they're isolated in their cabs? For many of them the answer is a very long phone call.
Samsung QS90H soundbar review: An all-in-one promise fulfilled
The QS90H actually delivers on the all-in-one soundbar promise thanks to new woofers and a unique driver layout.
Drunk driver crashes into business
According to WFFD Assistant Fire Marshal Eddie Mawson, the driver was drunk.
Movies to help understand the politics of immigration
Explore powerful films that illuminate the challenges of immigration, examining policy impacts and sociopolitical drivers for migration.
Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. 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The Beauty Of Settled Science
Commenters convinced me I made a subtle mis-step in my framing of Psychology Research Is Mostly Fine. My framing emphasized that social priming studies had failed to replicate, but that many other subfields of psychology hadn’t. This naturally led commenters to point to failed replications in other subfields. Although none of these were as bad as social priming, few or none were entirely problem-free. Instead of emphasizing the difference between social priming and other subfields, I should have emphasized the difference between settled science and novel research. Here are some of my favorite psychology findings: The brain is sculpted by reinforcement learning, and a key driver of this learning is a prediction-error-based algorithm located in the nucleus accumbens and implemented through dopamine. Psychedelic drugs exert their effects through 5-HT2A receptors, pointing to a role for these receptors in some sort of construct like the balance between priors and new evidence. Certain cognitive functions are localized to certain brain areas (for example, impulse control to the frontal lobes; linguistic structure to Broca’s area, linguistic meaning to Wernicke’s area. But injure one of these areas, or render a certain function useless (eg a blind person having no more use for their visual cortex), and these mappings can gradually shift - suggesting that neurons are general-purpose compute whose specialization is a contingent fact about convenience and efficiency rather than a necessity. Most personality traits and general capabilities are about 50% genetic and 50% random, with little role for family environment or childhood history, with a few notable exceptions like partisan preference. Recent research complicates this story, but the further you go from this basic picture, the gnarlier the chains of indirect causation you require. Neurons fire together in “brain waves”, whose exact frequency corresponds with the character of consciousness; These divide neurons into natural subpopulations and linked graphs. The gamma rhythm corresponds surprisingly well to items in conscious awareness. GABA receptors seem to be involved in something like relaxation. By hitting different GABA receptors in different ways, you can modulate the exact type of relaxation you produce. Hitting GABA-A directly is too powerful and can cause dangerous levels of sedation, but allosteric modulation of GABA is an incredibly fruitful strategy that underlies drugs from benzos to barbituates to alcohol. If you know your GABA-A subunits, you can target specific subtypes of relaxation; for example, Ambien hits GABA-A1 and induces sleep. Memory divides somewhat fuzzily into bins of immediate-sensory, short-term, and long-term, with separate retrieval and storage functions, and separate systems for declarative vs. procedural learning. These can be harmed selectively, usually by hippocampal injury, so that some patients can remember their life stories but not form new long-term memories, or learn new skills like bike-riding but not new facts. The exact substrate of memory is unclear but seems to involve new synaptic connections between neurons in at least some way. The ability of modern psychology and psychiatry to treat mental illness is real but limited. SSRIs work for half or slightly fewer than half of patients; antipsychotics work with extreme side effects; benzodiazpines work but produce addiction and tolerance in many (not all) people. Most supplements are stuck in Poor Quality Study Replication Crisis Hell, but melatonin and l-theanine stand out as especially promising. Psychotherapy works with moderate effect size, but (with a few exceptions) seems to be more about the relationship with the provider than the details of the therapy itself. Mental hospitalization can sometimes defuse immediate crises but work less well than mental hospitals would like, with some studies showing overall negative effects. Schizophrenia is mostly genetic, but risk also increases with prenatal infection (especially rubella) and obstetric complications; there is suggestive evidence for roles of social stress and drug use (with psychedelics and marijuana making things worse, and nicotine if anything making things better). Bipolar and schizophrenia are so closely linked on a pathophysiological level that it seems like they might be the same disease; on the clinical level, they do seem to follow two separate courses/prognoses but can sometimes surprise clinicians by eg someone who seemed condemned to permanent schizophrenia unexpectedly recovering. The brain’s native reinforcement learning algorithms cash out in the phenomena of classical and operant conditioning; different reinforcement schedules reinforce at different levels, which can be exploited by bad actors to make especially compelling products (eg slot machines). None of these are immune to doubt. A few are speculative; one or two are genuinely unorthodox. But they’re all a step above one p = 0.049 paper that might not replicate. If they get overturned, they’ll be overturned by the same sort of genuine scientific shift that replaced Ptolemy with Copernicus or Lamarck with Darwin, not some sort of sordid discovery about someone entering random numbers into a spreadsheet. In 2008, Eliezer Yudkowsky wrote about The Beauty Of Settled Science: If you only care about scientific issues that are controversial, you will end up with a head stuffed full of garbage. The media thinks that only the cutting edge of science is worth reporting on. How often do you see headlines like “General Relativity still governing planetary orbits” or “Phlogiston theory remains false”? So, by the time anything is solid science, it is no longer a breaking headline. “Newsworthy” science is often based on the thinnest of evidence and wrong half the time—if it were not on the uttermost fringes of the scientific frontier, it would not be breaking news. Scientific controversies are problems so difficult that even people who’ve spent years mastering the field can still fool themselves. That’s what makes for the heated arguments that attract all the media attention. Worse, if you aren’t in the field and part of the game, controversies aren’t even fun. Don’t be embarrassed to read elementary science textbooks, either. If you want to pretend to be sophisticated, go find a play to sneer at. If you just want to have fun, remember that simplicity is at the core of scientific beauty [...] A steady diet of science news is bad for you: You are what you eat, and if you eat only science reporting on fluid situations, without a solid textbook now and then, your brain will turn to liquid. Psychology isn’t centrally the new paper in Annals Of Recently-Breaking News saying that an n=5 study showing that large portion sizes increase support for terrorism. Psychology is centrally ideas like brain waves, GABA receptors, reinforcement learning, twin studies, and connectionism. People who think differently are worrying too much about BREAKING NEWS!!!, and should stop. The key distinction isn’t “recent research in social psychology” vs. “recent research in cognitive/bio/behavioral psychology”, as my essay last week unfortunately implied. It’s recent research in general vs. the deposit of settled science, battle-tested hypotheses, and carefully-earmarked speculation. And part of the reason social priming in particular was such a disaster was that it defied that heuristic, building itself up over hundreds of studies until it approached or even entered the pantheon of settled science - before collapsing (5-HTTLPR was also sort of like this). This isn’t a claim that settled science is always right - Freud was “settled science” for a long time - just that there’s an intuitive distinction between the level of credence you should have in the existence of power posing vs. the existence of Broca’s Area. (I compounded this error by calling the last post “Psychology Research Is Mostly Fine”, which suggested I was talking about the new research rather than the settled science. I actually meant to distinguish between research-psychology-the-field vs. clinical-psychology-aka-therapy, but this framing unintentionally pushed against the point I wanted to make) Some commenters on the previous article understood this point, but challenged its weight. It’s very cool, they said, to know how many neurons are in which brain lobe, but the main way that Psychology affected their lives was through bad clickbait studies used to buttress dumb policies; some p = 0.049 study says that exposure to microaggressions makes minorities’ brains shrivel into raisins, and now their company has to implement punitive DEI or be sued for hazardous work conditions. I won’t dispute this as an accurate description of how the sausage gets made, but it’s worth examining the trains of thought that connect this observation to a campaign against psychology in general: The dumb woke psychology was wrong and bad, and I don’t have good heuristics for distinguishing dumb woke psychology from other psychology, so I’m going to assume it’s all wrong and bad. The dumb woke psychology was wrong and bad; it seems useful to punish/discredit psychology as a whole to assist my campaign against it, so for propaganda purposes I will try to discredit psychology as a whole. To people in the first camp, my response is: come on, your heuristics aren’t that bad. “Microaggressions makes minorities’ brains shrivel up like raisins” is in the woke category; “the hippocampal theta rhythm seems to be associated with both memory and pathfinding, suggesting an unexpected yet surprisingly compelling relationship between the two” is in the not-woke category, don’t play dumb here. To people in the second camp, my response is: deliberately exaggerated propaganda campaigns are bad and this is a confession, not an excuse. Inability to view science through anything but a political lens was what got us into this problem; doubling down on it is a temporary solution but a recipe for permanent disaster. If you pronounce entire fields of science to be acceptable collateral damage in your campaign against bad political actors, you will alienate not just scientists but patients, clinicians, and general lovers of truth. Instead, you can say the thing you mean - that woke partisans shouldn’t try to occupy and exploit the otherwise-noble science of psychology for their own political gain - and wage the same campaign with a halo rather than a comic-book-villain goatee. From the font of oracular wisdom that is Weird Sun Twitter: [ Vessel Of Spirit@VesselOfSpirit i love you all conditionally but i love the good part of you unconditionally. even if it becomes a very small part 2:11 AM · Jan 22, 2015 1 Reply · 5 Reposts · 29 Likes ](https://x.com/VesselOfSpirit/status/558084551772471298) This is how I feel about psychology1, too, but with a touch more optimism. The good part of psychology is enormous, a hoard of endless treasures. You just have to look past the headlines! 1 To play devil’s advocate - should one always be so magnamious? Astrology? Phrenology? These seem different in that their entire orientation was flawed from the start; they didn’t simply fail to find the correct constellation-personality connections, the whole project of searching for connections between constellations and personality was doomed from the start. More difficult might be asking the same question about education research, which is notoriously bad. I don’t know enough about education research to know if there’s some settled science of correct and enlightening results lurking in the background beyond the day-to-day froth of poorly-conducted and politically-motivated studies. I think if it’s 90% bad, 10% good, it’s correct to call it bad as a compact way of communicating a useful truth; I think psychology is better than that, but admit it’s a tough judgment call.
Debt Digest | Federal Debt is a Health Care Problem
Welcome David Ditch to the Debt Dispatch! We are pleased to announce a new regular contributor: David Ditch will be joining the Cato Institute as a Policy Analyst for Budget and Entitlement Policy later this week. David has more than a decade of experience in fiscal policy issues, with a particular focus on federal spending. He previously worked at the Senate Budget Committee, the Heritage Foundation, and the Economic Policy Innovation Center. David’s areas of expertise include appropriations, transportation, agriculture, federalism, grantmaking, and policy options for deficit reduction. Originally from the Rochester, N.Y. area, David has a BA in Economics and Political Science from the University of Rochester and a MA in Political Management from George Washington University. David currently lives in Arlington, VA. You may have enjoyed his earlier guest posts: CBO: New Highway Bill Has More Spending, Taxes, and Deficits Trump Administration’s Proposed Changes to Federal Grants Highlight Problems of Big Government Here are this week’s reading links and fiscal facts: The federal debt is largely a health care problem. In a new report, the Congressional Budget Office and Joint Committee on Taxation find that “In 2026, federal subsidies for health insurance, net of related payments to the government, are projected to equal $2.4 trillion, or 7.4 percent of gross domestic product (GDP). In CBO and JCT’s projections, those subsidies grow by 65 percent, reaching $3.9 trillion, or 8.4 percent of GDP, in 2036. Subsidies for Medicare contribute most to that overall growth, increasing by $900 billion. Over the entire 2026–2036 period, federal subsidies for health insurance total $33.6 trillion.” Cato’s Michael Cannon emphasizes, “The long-term federal debt problem is a health care problem. […] Only two categories of federal outlays will grow faster than gross domestic product (GDP): health care subsidies and interest payments on the debt. The former is, therefore, the primary driver of the latter.” The bond market fears deficits, not the loss of tariff revenue. Responding to a New York Times essay claiming tariff revenue has grown too important for a future administration to unwind, Cato’s Kyle Handley argues: “Bond investors are not attached to customs duties as a line item revenue source. They care about the government’s overall fiscal position.” He continues, “tariff revenue is a side hustle. And the Trump administration has already promised to dole out the funds through schemes like tariff dividend rebates, farm subsidies, and pay-fors on tax cuts or other spending.” Furthermore, “tariff revenue is simply not large enough to transform the government’s fiscal trajectory.” Take net interest for example: it “reached $970 billion in fiscal year 2025, absorbing 18.5 percent of federal receipts. Customs duties accounted for only 3.7 percent of receipts—and that was before refunds (see Figure 2).” Handley concludes, “The real bond-market concern is a large and growing interest bill, persistent budget deficits, and a political system unwilling to bring spending and revenue into alignment.” Medicare’s spending growth is driven by more volume and utilization. A Congressional Research Service report finds that Medicare spending “grew at an average annual rate of 7.3%” from 1985 through 2025, and the trustees project health care expenditures will keep rising “faster than gross domestic product (GDP) in most future years.” Citing CBO, the report attributes Medicare’s projected 2026–2036 spending growth to “23% from higher enrollment, 31% from inflation, and 47% from the growth of inflation-adjusted spending per beneficiary. In other words**, the largest single driver of Medicare spending growth during the next decade is expected to be higher volume and intensity of health care services.”** Boccia and Thakur explain: “as the economy grows, Medicare spending tends to grow at least as fast—and often faster—because the program automatically pays the bill for more and more healthcare consumption by seniors, even as prices rise.” The Fed has little control over market interest rates. Cato’s Jai Kedia documents that the Fed has held its rate target steady since December, yet “nearly every rate Americans actually borrow at has climbed over the same stretch.” Kedia continues, “The Fed did nothing, and the cost of credit went up anyway. […] Markets spent these months repricing macroeconomic events such as sticky core inflation, a volatile energy market driven by the conflict in the Middle East, and global trade disrupted by tariffs, among others. None of that required a policy change to show up in borrowing costs because markets, not the FOMC, set prices.” He concludes, “Accurately priced borrowing rates will come from credible disinflation and disciplined budgets and from a Fed content to follow the economy rather than pretend it leads it.” Nearly half of US farm income comes from taxpayers. Former Reagan OMB director David Stockman notes that “in the most recently completed full year (FY 2025) farmer incomes in the US totaled $97.8 billion, but fully 42.7% or $41.8 billion of that amount came from taxpayers, not the marketplace. Nor is this some kind of one-year aberration. If we look at the most recent decade as a whole, total farm income posted at nearly $708 billion, but, as indicated, fully $322 billion or 45% of this came compliments of US taxpayers.” Cato’s Chris Edwards explains why so little of that income is market-earned: “Farmers are businesspeople, but the government shields them from just about every type of weather and market risk. Furthermore, just about every part of the agricultural industry is subsidized, including insurance, loans, marketing, research, export sales, and land improvements.” The Debt Dispatch is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
Where did the ice cream trucks go? Drivers talk challenges of the mobile business
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