Swiss Economicblogs.org
US voters have abandoned political correctness. Have they also abandoned decency? They have clearly voted for “change.” Eight years ago, they did the same. They have voted against competence according to common standards. Maybe because they perceived competence to be correlated with “no change.” Maybe because they viewed competence as a weakness. Picking non-competent leaders can pay off in specific bargaining situations. In general, it is unlikely to pay off in the longer term. Race was...
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