For a lot of questions, comparisons of per-capita GDP yield the correct answer to a first-order of approximation. For example, are Americans richer than the Chinese? A comparison of GDPs per capita, adjusted for PPP differences, yields an unambiguous answer in favor of the U.S. Yes, income may...

There has been much discussion in Turkey in recent days about the performance of the economy under the AKP government, occasioned in part by an exchange I had with Minister of Finance Mehmet Şimşek. The Turkish government likes to claim that the GDP expanded by more than three-fold between 2002 ...

Whenever I see Andrei Shleifer, he asks me how the revolution is going. He has in mind of course the kind of views I espouse in this blog, which he considers heretical. But Andrei is promoting his own counter-revolution, one that enshrines the last quarter century as the age of Milton Friedman. ...

For a lot of questions, comparisons of per-capita GDP yield the correct answer to a first-order of approximation. For example, are Americans richer than the Chinese? A comparison of GDPs per capita, adjusted for PPP differences, yields an unambiguous answer in favor of the U.S. Yes, income may...

For a lot of questions, comparisons of per-capita GDP yield the correct answer to a first-order of approximation. For example, are Americans richer than the Chinese? A comparison of GDPs per capita, adjusted for PPP differences, yields an unambiguous answer in favor of the U.S. Yes, income may...