Left to Right: Allan Meltzer* (Truman Prize, Economic  Policy), Ed Prescott* (Nobel Laureate, Economics), Visitor, Len Rapping, Bob Lucas* (Nobel Laureate, Economics)

*My thesis committee, Allan Meltzer Chair. 

Graduate School of Industrial Administration, Carnegie Mellon University



“Tensions Rise on Korean Peninsula…” The Wall Street Journal," p. A1

            At the gross level, war between us, North Korea and the U.S., would be a great disaster for the both of us. 

On the brighter side, this suggests the possibility of evolving into a relationship not only not as bad as nuclear war, but much better than our current circumstances. 

Probably an early issue to consider is why such a good outcome for both has not evolved already.  In any case, an instrument for pursuing this likely should involve substantial North Korean and U.S. participation in some form.  Who would have better insight into the processes that got us here in the first place?

As for myself, upgrading knowledge of current and recent events, and of history that enriches the understanding of context, may be the logical next step. 

8/5/17 Preliminary and Tentative 

(a) North Korea

Now I most certainly am no expert on North Korea, which may well explain my confusion.  It has been said that the U.S. should convince China to play a lead role in containing North Korea’s ambitions.  But why should China want to do that?  I should think that from China’s perspective North Korea is already well positioned.  Perhaps instead might China view North Korea as a potential threat?  Seems unlikely.

(b) American Greatness

At the same time, one hears the view that the U.S. should become great again.  What makes people think that the U.S. isn’t great now?  After all, for one example, a big concern has been our dependence on foreign oil, which dependence has simply fallen away for us.  Perhaps more importantly, some of our competitors seem to be  regressing back into authoritarianism, which in the longer term should reduce their effectiveness relative to our own.