J. Bradford DeLong's Blog, page 252

Fairly Recently: Must- and Should-Reads, and Writings... (January 10, 2019)

Note to Self: No, Apple! No Potty Mouth, Please!: Today I am disturbed that Apple voice recognition keeps hearing ���slut��� when I say ���slack���...

Comment of the Day: BruceJ: "Honestly, when you look back at Brooks' history, where he 'just happens' to reference ideas out of the 'dark, dank silos of the far right' I see less laziness, than an ongoing subtle injection of those very ideas into so-called 'respectable' conservative commentary. If it IS all happenstance and laziness, Brooks is the luckiest damned blind squirrel in the universe...

Why Economic History?: Good theory is in the end nothing but distilled and crystallized economic history. It could, after all, be nothing else. And piling more and more computer power on to the analysis of nonhistorical data could only be an intellectual optimum if the world was created ex nihilo the instant of the first date of your panel. So this is why we are here. Welcome to economic history...

Comment of the Day: Private-sector entities cannot migrate labor and capital into the business of creating money, for money is liquid trust and can only be created by institutions that are trusted to be, well, good for the money. So the solution is not to move resources out of creating currently-produced goods and services but to move demand into buying currently-produced goods and services. And���as long as it is good for the money���the government's borrowing-and-spending or printing-and-dropping works just fine: JEC: Keynesian Economics vs. Regular Economics: "The funny thing here is that Barro imagines this to be a killer rhetorical question, when it is in fact a crucial and open research question...

What Will Cause the Next US Recession?: Live at Project Syndicate: Needless to say, the particular nature and form of the next financial shock will be unanticipated. Investors, speculators, and financial institutions are generally hedged against the foreseeable shocks.... The death blow to the global economy in 2008-2009 came not from global imbalances or from the collapse of the mid-2000s housing bubble, but from the concentration of ownership of mortgage-backed securities...

Comment of the Day: Cervantes: "I didn't know that British produce comes into season at the end of March, actually. You learn something every day...

Betting That Nobody Will Check the References as an Intellectual Style: Monday Smackdown: Never mind that Himmelfarb cuts off her quote from Keynes just before Keynes writes that he approves of this Puritan fallacy���that he is not, as Himmelfarb claims, ridiculing it, but rather praising it...

Paul Campos: Tucker Carlson Utters More Than Fourteen Words Evincing Skepticism About Finance Capitalism: Conservative Pundits Blanch In Pure Horror: "white ethno-nationalism, which is what both Carlson and Trump actually market to their respective, heavily overlapping audiences, is likely to become even more successful if it manages to morph into a kind of welfare=state herrenvolk democracy, in which 'real Americans' receive genuine protection from the depredations of capitalism, while a permanently disenfranchised underclass of guest workers and the like gets to live in the libertarian utopia envisioned by the Koch brothers...

Ben Alpers: A Far-Right Anti-Semitic Conspiracy Theory Becomes a Mainstream Irritable Gesture: "At the heart of this largely rote piece of Brooksian pablum is a claim that deserves a closer look. 'The younger militants', writes Brooks, 'tend to have been influenced by the cultural Marxism that is now the lingua franca in the elite academy'. This is interesting both for what Brooks appears to be trying to say and, more immediately, how he has decided to say it... #orangehairedbaboons #publicsphere

Alexander Zubatov: "I think YOU'RE misusing Blackford.... Remember, the whole point of my Tablet article was to respond to Sam Moyn's utterly misleading NYT article claiming cultural Marxism simply doesn't exist and is no more than anti-Semitic right-wing phantasmagoria...

Ben Alper: Fun With Primary Sources: The Free Congress Foundation's "History of Political Correctness": "The notion that the Frankfurt School was responsible for creating 'Political Correctness', 'Cultural Marxism', and a related plot against Western civilization itself emerged from the circle around Lyndon LaRouche from the 1970s (when LaRouche���s attacks on the Frankfurt Institute apparently began) through the early 1990s...

Dave Niewertr: Norway Terrorist Breivik Was An Ardent Subscriber To Theories Of 'Cultural Marxism': "The picture that's emerging is of an ordinary right-wing man stoked into anger by theories about "Cultural Marxism" that originated on the anti-Semitic far right but have in recent years been spreading into more mainstream venues, promoted by the likes of Andrew Breitbart, among others...

Ben Alpers: The Frankfurt School, Right-Wing Conspiracy Theories, and American Conservatism: "There are obviously a lot of threads that one might pull in this story, regarding, among other things, the relationship between mainstream conservatism and the violent radical right, the strong base of antisemitism that (often silently) underwrites a lot right-wing rhetoric, the deep anti-intellectual and anti-academic tendencies in these modes of thought, and the peculiar role that Lyndon LaRouche and his minions have played in encouraging conspiracy theories of all sorts (they are also an important source for left-wing conspiracy theories about Leo Strauss and the Straussians)...

Samuel Moyn: The Alt-Right���s Favorite Meme Is 100 Years Old: "���Cultural Marxism��� might sound postmodern but it���s got a long, toxic history...

Russell Blackford: Cultural Marxism and our current culture wars: Part 1: "In everyday contexts, those of us who do not accept the narrative of a grand, semi-conspiratorial movement aimed at producing moral degeneracy should probably avoid using the term 'cultural Marxism'. Unfortunate cultural tendencies, including those that manifest a left-wing style of authoritarianism, can usually be labelled in less confusing, more effective, more precise ways. By all means, let���s develop useful terminology to express whatever concerns we have about tendencies on the Left, but 'cultural Marxism' carries too much baggage...

Jana Winter and Elias Groll: Here���s the Memo That Blew Up the NSC: "Fired White House staffer [Rich Higgins] argued 'deep state' attacked Trump administration because the president represents a threat to cultural Marxist memes, globalists, and bankers...

Jeet Heer: Let's Talk about Anti-Semitic Ideology: "Bowers... belonged to the far right faction that sees Trump as... claim[ing] to stand for white America but actually works for 'the Jews'.... The idea that George Soros (symbol for many on right of Jewish conspiracy) is behind Caravan isn't confined to Nazis.... Congressman Matt Gaetz... popular Trumpist cartoonist Ben Garrison... House GOP Leader Kevin McCarthy.... The Soros stuff is just one of many manifestations of the the grand anti-Semitic trope.... The Soros of right-wing mythology (globalist intent on destroy cohesive nations) fit the long history of blaming internal discord on outside agitators as well as the Dolchsto��legende. The nationalist needs a cosmopolitan nemesis...

Zack Beauchamp: A Trump Voter Hurt by the Shutdown���s Incredibly Revealing Quote: "Think about that line for a second. Roll it over in your head. In essence, Minton is declaring that one aim of the Trump administration is to hurt people���the right people. Making America great again, in her mind, involves inflicting pain. This is not an accident. Trump���s political victory and continuing appeal depend on a brand of politics that marginalizes and targets groups disliked by his supporters. Trump supporters don���t so much love the Republican party as they hate Democrats...

Jeet Heer: Let's Talk about Anti-Semitic Ideology: "The idea that George Soros (symbol for many on right of Jewish conspiracy) is behind Caravan isn't confined to Nazis. Here's Congressman Matt Gaetz. Here is popular Trumpist cartoonist Ben Garrison���again, someone with an audience outside the Nazi right but circulating idea that Soros is working to destroy America. House GOP Leader Kevin McCarthy...

Tamara Strauss: Blum Center News Digest, Jan. 7: "A selection of articles and reports pulled from the last two/three weeks...

Raj Kumar: Facing Harsh Realities, the Global Development Community Confronts Another Fraught Year: "The outlines of an established global politics on aid are beginning to come into focus, and it���s a fraught landscape. Aid is now openly and directly discussed as a tool to stem migration, achieve foreign policy objectives, and derive domestic economic bene���ts, particularly for major donors including the U.S., China, Germany, and the U.K...

Paul Krugman: The Economics of Soaking the Rich: "Diminishing marginal utility is the common-sense notion that an extra dollar is worth a lot less in satisfaction to people with very high incomes than to those with low incomes. Give a family with an annual income of $20,000 an extra $1,000 and it will make a big difference to their lives. Give a guy who makes $1 million an extra thousand and he���ll barely notice it. What this implies for economic policy is that we shouldn���t care what a policy does to the incomes of the very rich. A policy that makes the rich a bit poorer will affect only a handful of people, and will barely affect their life satisfaction, since they will still be able to buy whatever they want... #equitablegrowth #fiscalpolicy

Steve Richards: Theresa May���s Survival Has Become Dependent on Denying Political Reality: "After the long cabinet meeting on the Brexit deal, the prime minister declared outside Number 10 that ministers had backed her plans. The next day the Brexit secretary, Dominic Raab, resigned. Mrs May appointed a successor as if the words she had uttered the night before had never been spoken.... She has, in the intervening weeks, insisted that there is space for a significant negotiation with the EU before the approaching Commons��� vote on her deal, expected within the next fortnight. The EU has made clear there is no room for such revision. The disconnect between the prime minister���s public words and what is happening around her is stark. Other prime ministers sought words to make sense of chaotic situations. Alternatively, they tried to change the situation. But Mrs May does neither. She presses on. But her indifference to words and persuasion, these essential arts of leadership, is a fatal flaw...

Patrick Kline, Neviana Petkova, Heidi Williams, and Owen Zidar: Who Profits from Patents? Rent-Sharing at Innovative Firms: "An initial allowance of an ex-ante valuable patent generates substantial increases in firm productivity and worker compensation. By contrast, initial allowances of lower ex-ante value patents yield no detectable effects on firm outcomes.... On average, workers capture roughly 30 cents of every dollar of patent-induced surplus in higher earnings... concentrated among men and workers in the top half of the earnings distribution, and are paired with corresponding improvements in worker retention among these groups. We interpret these earnings responses as reflecting the capture of economic rents by senior workers, who are most costly for innovative firms to replace...

David Weil (2014): The Fissured Workplace: "Large corporations have shed their role as direct employers of the people responsible for their products, in favor of outsourcing work to small companies that compete fiercely with one another...

Jag Bhalla: Judea Pearl's 'The Book of Why' Shakes Up Correlation vs. Causality

Uncle Judea, Melanin, Genetics, and Educational Attainment...: Am I profoundly stupid, or is Uncle Judea's framework of causal confounders���colliders���mediators a huge advance, perhaps not in helping those of you who think carefully do non-stupid statistics, but in helping those of us who do not think carefully do non-stupid statistics, and in providing a royal road to teaching people how to do not-stupid statistics...

This point is absolutely cognitive science-statistics-philosophy of probability gold!: Judea Pearl, Madelyn Glymour, and Nicholas P. Jewell (2016): Causal Inference in Statistics: A Primer (New York: John Wiley & Sons: 978119186847): "Inquisitive students may wonder why it is that dependencies associated with conditioning on a collider are so surprising to most people���as in, for example, the Monty Hall example. The reason is that humans tend to associate dependence with causation...

Lisa R. Goldberg: Review of The Book of Why: The New Science of Cause and Effect: "The graphical approach to causal inference that Pearl favors has been influential, but it is not the only approach.... The Neyman (or Neyman���Rubin) potential outcomes model... James Heckman, whose concept of 'fixing' resembles, superficially at least, the do operator that Pearl uses. Those who enjoy scholarly disputes may look to Andrew Gelman���s blog... or to the tributes written by Pearl and Heckman to the reclusive Nobel Laureate, Trygve Haavelmo, who pioneered causal inference in economics in 1940...

Ride | Austin: Frequently Asked Question: "The previous rideshare companies spent millions of dollars then chose to abandon the 'factory' (drivers & riders) they built. We believed with the backing of the community-RideAustin could quickly harness this infrastructure-build the right solution and fill the void and provide a great, safe service.... The tech community contributed technology to power the app that costs millions to develop-but it also took over $7 million in cash donations and significant in-kind services donations to make RideAustin what it is today...

Counterfactuals! There is currently a mishegas at Andrew Gelman's place about Pearl and Mackenzie's Book of Why, which has a reference to this and has led me to the conclusion that I really need to find time to work my way through this entire book: Cosma Shalizi: Advanced Data Analysis from an Elementary Point of View: "The distributions we observe in the world are the outcome of complicated stochastic processes. The mechanisms which set the value of one variable inter-lock with those which set other variables. When we make a probabilistic prediction by conditioning���whether we predict���� E[Y|X=x] or Pr (Y|X=x) or something more complicated���we are just filtering the output of those mechanisms, picking out the cases where they happen to have set X to the value x, and looking at what goes along with that. When we make a causal prediction, we want to know what would happen if the usual mechanisms controlling X were suspended and it was set to x. How would this change propagate to the other variables? What distribution would result for Y? This is often, perhaps even usually, what people really want to know from a data analysis, and they settle for statistical prediction either because they think it is causal prediction, or for lack of a better alternative... #reasoning

Yes, lots of conservative males feel unmanned because women can now get jobs and contraceptives and so are not (a) desperate to find a man to support them while (b) terrified of getting pregnant. The best answer would be teaching young males that while their grandfathers and male their fathers could be real dicks without it ruining their lives, that is no longer tru: Josh Barro: "I think a big problem with the 'economic and social change undermined marriage and family for the working class' frame is that a main way it did this is by making women less dependent on men...

Jane Coaston: Tucker Carlson Has Sparked The Most Interesting Debate In Conservative Politics: "Carlson... greed that his monologue was reminiscent of Warren, referencing her 2003 book The Two-Income Trap: Why Middle-Class Parents Are Growing Broke.... Carlson wanted to be clear: He���s just asking questions.... In this telling, white working-class Americans who once relied on a manufacturing economy that doesn���t look the way it did in 1955 are the unwilling pawns of elites. It���s not their fault that, in Carlson���s view, marriage is inaccessible to them.... Someone, or something, did this to them.... Carlson is advancing a form of victim-politics populism that takes a series of tectonic cultural changes���civil rights, women���s rights, a technological revolution as significant as the industrial revolution, the mass-scale loss of religious faith, the sexual revolution, etc.���and turns the negative or challenging aspects of those changes into an angry tale of what they are doing to you. And that was my biggest question about Carlson���s monologue, and the flurry of responses to it, and support for it: When other groups (say, black Americans) have pointed to systemic inequities within the economic system that have resulted in poverty and family dysfunction, the response from many on the right has been, shall we say, less than enthusiastic. Yet white working-class poverty receives, from Carlson and others, far more sympathy...

Yes, lots of conservative males feel unmanned because wom...

Yes, lots of conservative males feel unmanned because women can now get jobs and contraceptives and so are not (a) desperate to find a man to support them while (b) terrified of getting pregnant. The best answer would be teaching young males that while their grandfathers and male their fathers could be real dicks without it ruining their lives, that is no longer true. But that is really not an answer Tucker Carlson's audience wants to hear: Josh Barro: "I think a big problem with the 'economic and social change undermined marriage and family for the working class' frame is that a main way it did this is by making women less dependent on men...

Jane Coaston: Tucker Carlson Has Sparked The Most Interesting Debate In Conservative Politics: "Carlson... greed that his monologue was reminiscent of Warren, referencing her 2003 book The Two-Income Trap: Why Middle-Class Parents Are Growing Broke....

...Carlson wanted to be clear: He���s just asking questions.... In this telling, white working-class Americans who once relied on a manufacturing economy that doesn���t look the way it did in 1955 are the unwilling pawns of elites. It���s not their fault that, in Carlson���s view, marriage is inaccessible to them.... Someone, or something, did this to them.... Carlson is advancing a form of victim-politics populism that takes a series of tectonic cultural changes���civil rights, women���s rights, a technological revolution as significant as the industrial revolution, the mass-scale loss of religious faith, the sexual revolution, etc.���and turns the negative or challenging aspects of those changes into an angry tale of what they are doing to you. And that was my biggest question about Carlson���s monologue, and the flurry of responses to it, and support for it: When other groups (say, black Americans) have pointed to systemic inequities within the economic system that have resulted in poverty and family dysfunction, the response from many on the right has been, shall we say, less than enthusiastic. Yet white working-class poverty receives, from Carlson and others, far more sympathy....

Carlson said that growing up in Washington, DC, and spending time in rural Maine, he didn���t realize until recently that the same poverty and decay he observed in the Washington of the 1980s was also taking place in rural (and majority-white) Maine. ���I was thinking, ���Wait a second... maybe when the jobs go away the culture changes,������ he told me, ���And the reason I didn���t think of it before was because I was so blinded by this libertarian economic propaganda that I couldn���t get past my own assumptions about economics.���... Carlson told me that beyond changing our tax code, he has no major policies in mind. ���I���m not even making the case for an economic system in particular,��� he told me. ���All I���m saying is don���t act like the way things are is somehow ordained by God or a function or raw nature���...

#noted

Counterfactuals! There is currently a mishegas at Andrew ...

Counterfactuals! There is currently a mishegas at Andrew Gelman's place about Pearl and Mackenzie's Book of Why, which has a reference to this and has led me to the conclusion that I really need to find time to work my way through this entire book: Cosma Shalizi: Advanced Data Analysis from an Elementary Point of View: "The distributions we observe in the world are the outcome of complicated stochastic processes. The mechanisms which set the value of one variable inter-lock with those which set other variables. When we make a probabilistic prediction by conditioning���whether we predict���� E[Y|X=x] or Pr (Y|X=x) or something more complicated���we are just filtering the output of those mechanisms, picking out the cases where they happen to have set X to the value x, and looking at what goes along with that. When we make a causal prediction, we want to know what would happen if the usual mechanisms controlling X were suspended and it was set to x. How would this change propagate to the other variables? What distribution would result for Y? This is often, perhaps even usually, what people really want to know from a data analysis, and they settle for statistical prediction either because they think it is causal prediction, or for lack of a better alternative...

#noted #reasoning

Note to Self: No, Apple! No Potty Mouth, Please!: A numbe...

Note to Self: No, Apple! No Potty Mouth, Please!: A number of the biases in voice recognition systems come from the initial training dataset. Senior google employees have claimed to me���how serious they were I do not know���that Gmail autocomplete's extraordinary! love! for! exclamation! points! comes from its use of google engineers as its initial training dataset.

Today I am disturbed that Apple voice recognition keeps hearing ���slut��� when I say ���slack���. What training dataset produces that? From my perspective, Apple voice recognition needs to acquire much less of a potty mouth���or at least to have a potty-mouth-off switch���for it to be useful to me. Someday it is going to do something, and I am not going to catch it...

#notetoself #riseoftherobots

Patrick Kline, Neviana Petkova, Heidi Williams, and Owen ...

Patrick Kline, Neviana Petkova, Heidi Williams, and Owen Zidar: Who Profits from Patents? Rent-Sharing at Innovative Firms: "An initial allowance of an ex-ante valuable patent generates substantial increases in firm productivity and worker compensation. By contrast, initial allowances of lower ex-ante value patents yield no detectable effects on firm outcomes.... On average, workers capture roughly 30 cents of every dollar of patent-induced surplus in higher earnings... concentrated among men and workers in the top half of the earnings distribution, and are paired with corresponding improvements in worker retention among these groups. We interpret these earnings responses as reflecting the capture of economic rents by senior workers, who are most costly for innovative firms to replace...

#noted

Comment of the Day: BruceJ: "Honestly, when you look back...

Comment of the Day: BruceJ: "Honestly, when you look back at Brooks' history, where he 'just happens' to reference ideas out of the 'dark, dank silos of the far right' I see less laziness, than an ongoing subtle injection of those very ideas into so-called 'respectable' conservative commentary. If it IS all happenstance and laziness, Brooks is the luckiest damned blind squirrel in the universe...

#commentoftheday

Paul Krugman: The Economics of Soaking the Rich: "Diminis...

Paul Krugman: The Economics of Soaking the Rich: "Diminishing marginal utility is the common-sense notion that an extra dollar is worth a lot less in satisfaction to people with very high incomes than to those with low incomes. Give a family with an annual income of $20,000 an extra $1,000 and it will make a big difference to their lives. Give a guy who makes $1 million an extra thousand and he���ll barely notice it. What this implies for economic policy is that we shouldn���t care what a policy does to the incomes of the very rich. A policy that makes the rich a bit poorer will affect only a handful of people, and will barely affect their life satisfaction, since they will still be able to buy whatever they want...

...So why not tax them at 100 percent? The answer is that this would eliminate any incentive to do whatever it is they do to earn that much money, which would hurt the economy. In other words, tax policy toward the rich should have nothing to do with the interests of the rich, per se, but should only be concerned with how incentive effects change the behavior of the rich, and how this affects the rest of the population.... In a perfectly competitive economy, with no monopoly power or other distortions���which is the kind of economy conservatives want us to believe we have���everyone gets paid his or her marginal product.... If a rich man works an extra hour, adding $1000 to the economy, but gets paid $1000 for his efforts, the combined income of everyone else doesn���t change, does it? Ah, but it does���because he pays taxes on that extra $1000. So the social benefit from getting high-income individuals to work a bit harder is the tax revenue generated by that extra effort���and conversely the cost of their working less is the reduction in the taxes they pay.... When taxing the rich, all we should care about is how much revenue we raise. The optimal tax rate on people with very high incomes is the rate that raises the maximum possible revenue.... Diamond and Saez put the optimal rate at 73 percent, Romer at over 80 percent���which is consistent with what AOC said...

#noted #equitablegrowth #fiscalpolicy

Jeet Heer: Let's Talk about Anti-Semitic Ideology: "The i...

Jeet Heer: Let's Talk about Anti-Semitic Ideology: "The idea that George Soros (symbol for many on right of Jewish conspiracy) is behind Caravan isn't confined to Nazis. Here's Congressman Matt Gaetz. Here is popular Trumpist cartoonist Ben Garrison���again, someone with an audience outside the Nazi right but circulating idea that Soros is working to destroy America. House GOP Leader Kevin McCarthy:

@attackerman and @chick_in_kiev have both written about how all these Soros theories replicate classic anti-Semitic tropes:

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The Soros stuff is just one of many manifestations of the the grand anti-Semitic trope (cosmopolitan Jews are destroying traditional nations) that pervades the alt-right and shades into the respectable right. Other examples: Frankfurt School, "Globalism". Anti-semitism has ancient & medieval roots but the variety we're talking about (idea that cosmopolitan Jews are destroying traditional nations) is really a hallmark of the nationalist right since the 19th century. The nationalist right posits and idealizes a cohesive volk community and therefore for structural reasons needs to have an internal scapegoat upon whom internal divisions can be blamed. So in West it's naturally drawn to already existing anti-Semitic narratives.

Right-wing nationalism needs anti-Semitism (or some very similar ideology) for structural reasons: all nations have internal divisions & therefore there has to be someone upon whom these can be blamed. Further, because capitalism is prone is recurring crisis, right-wing nationalists need someone to blame economic problems on. As nationalists, they are loath to blame wealthy who belong to ethnic majority (are part of "the people"). Hence, repeatedly, blame wealthy Jews. As August Bebel famously said, "anti-semitism is the socialism of fools"���i.e. a way of blaming structural problems of capitalism on unpopular minority. That's a big part of story, but there's more: anti-Semitism needed to explain mass uprisings.

Since the French Revolution, we've repeatedly witnesses popular uprisings of subaltern classes: workers, colonized, women, racial minorities, LGBT etc. This poses a conceptual problem for right-wing nationalists, who posit organic cohesion as norm. For the right-wing nationalist, popular uprisings (unless of nationalist intent) are unnatural. But how to explain the discontent of workers, colonized, women, etc? Acknowledging legitimate grievances would mean having to accept social change. Unable (because of commitment to social status quo) to acknowledge grievances of subaltern classes, the right-wing nationalist needs a scapegoat who can be blamed for discord. For historical reasons, easiest handy one is myth of conniving conspiratorial Jew.

The Soros of right-wing mythology (globalist intent on destroy cohesive nations) fit the long history of blaming internal discord on outside agitators as well as the Dolchsto��legende. The nationalist needs a cosmopolitan nemesis...

#noted #publicsphere #orangehairedbaboons

PGL: Keynesian Economics vs. Normal Economics: "I wonder ...

PGL: Keynesian Economics vs. Normal Economics: "I wonder what the negative supply-side event was back in 1982 when we had a massive decline in real GDP? Was it those lower tax rates from the 1981 tax cut? Or the Republican led reductions in transfer payments? Oh wait���wrong sign. Or maybe the dollar appreciation except for the fact that in Barro's world we ignore the aggregate demand effects and focus on the increase in wages relative to the prices of imported goods. Oh dear-wrong sign again!...

#commentoftheday

Tamara Strauss: Blum Center News Digest, Jan. 7: "A sele...

Tamara Strauss: Blum Center News Digest, Jan. 7: "A selection of articles and reports pulled from the last two/three weeks...

Raj Kumar: Facing Harsh Realities, the Global Development Community Confronts Another Fraught Year: "The outlines of an established global politics on aid are beginning to come into focus, and it���s a fraught landscape. Aid is now openly and directly discussed as a tool to stem migration, achieve foreign policy objectives, and derive domestic economic bene���ts, particularly for major donors including the U.S., China, Germany, and the U.K...

#noted #blumcenter