Aug 8, 2007
In Today's FT
Today's Financial Times carries Willem Buiter's call for the legalization of all illegal drugs. He then proceeds to argue that the U.S. and its allies in Afghanistan should buy up the entire poppy harvest in order to undermine further the financial strength of the Taliban and al-Qaeda."If a sufficient premium over the prevailing market price were offered, the Taliban/al-Qaeda middle-man could be cut out altogether, and thus would lose his tax base. Winning the hearts and minds of poppy growers and coca growers is a lot easier when you are not seen as intent on destroying their livelihood." Buiter is professor of European political economy at the London School of Economics' European Institute. Read and contribute to the online discussion here.
Today's issue also carries Benjamin Powell's letter explaining that, contrary to what Matt Miller had asserted in Monday's issue, many economists like Powell support completely open immigration and free markets in labour. Until this summer Ben was a colleague of mine at San Jose State. This fall he begins work at Suffolk University, Boston. Immigration has long been one of his research interests.
Today's issue also carries Benjamin Powell's letter explaining that, contrary to what Matt Miller had asserted in Monday's issue, many economists like Powell support completely open immigration and free markets in labour. Until this summer Ben was a colleague of mine at San Jose State. This fall he begins work at Suffolk University, Boston. Immigration has long been one of his research interests.