The recent global financial crisis has birthed a slew of books proclaiming the superiority of state capitalism — or, alternatively, authoritarian capitalism — over free markets. China, we are led to believe, will not merely own this century, but will also likely win the bulk of the world over to its “unique” and “unprecedented” model of development. Stunningly, even though no serious thinker still believes in the efficacy of command economies, we are now encouraged to quake before state-directed economies, as if a bunch of power-fixated politicos sitting around a table will somehow manage to outsmart, out-predict, and outperform the […]

President Barack Obama’s multipronged approach to minimizing nuclear risks — embodied in the simultaneous roll out of the Nuclear Posture Review, the START follow-on treaty with Russia, and the Nuclear Security Summit — is nothing if not ambitious. Taken together, these steps mark a potential turning-point for U.S. nuclear strategy by reducing the role of nuclear weapons and by prioritizing efforts to lock down weapons-usable material, clamping down on nuclear terrorism, and strengthening international rules against proliferation. As the Nuclear Posture Review puts it, “Changes in the nuclear threat environment have altered the hierarchy of our nuclear concerns and strategic […]

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