The American Constitutional Tradition: Or the Uses and Abuses of History

The American Constitutional Tradition: Or the Uses and Abuses of History

I've had all I can stand. 
The smell is too much for me. 
This shop where they manufacture ideals seems to me to stink of lies.
- Friedrich Nietzsche

 On September 17th, 1787 the framers (now venerably named)  signed the draft form of what would become, nearly two years later, the U.S. Constitution. The Constitution then proposed contained no bill of rights. It held no guarantees of freedom of speech, religion, press, or assembly. It provided no protections from self-incrimination, no compensation for eminent domain, no expectation of a speedy trial, and no jury of peers. It obligated no due process of law, and ordained no right to bear arms. Not until December 5th, 1791 would our now heralded rights-oriented doctrine be joined with the cold logic of the Constitution's Montesquieuian schematics. 

The bill of rights was a hard won compromise, enacted only begrudgingly, achieved narrowly, and only through the harrowing process of intense political struggle.  Almost comically the part of our Constitution designed explicitly as a protection against the government then established by the Constitution has come to embody our most sacred principles, denominate our most fundamental freedoms, and proclaim the essential spirit of our liberal creed. 

Toward the Post American World?: The Link Between Public Debt and Global Competitiveness

Towards the Post American World?: 

The Link Between Public Debt and Global Competitiveness

Over the past 20 years globalization has been driving a new era of equality in the world economy. The so called 'developing' countries   such as China, Brazil, and India have experienced consistently high rates of economic growth. Meanwhile, the 'developed' world remains mired by slow growth, high-unemployment and the possibility of long-term stagnation.Yesterday the World Economic Forum,, a European public-policy think-tank,  released its annual Global Competitiveness Report. The report suggests that uneven rates of growth are likely to persist for years to come. 

Advanced industrialized economies in Europe, as well as the United States face a number of impediments to maintaining competitiveness. Perhaps the biggest issue facing advanced industrial democracies are soaring public debt levels which threaten macro-economic stability, crowd out private investment, and force difficult policy choices. In Debt, Deficits, and the Markets the Economist reports that similar debt levels have had divergent effects on national borrowing capacity.

According to the economist, Japan still faces relatively low borrowing costs despite its massive public debt. One driver of Japan's low financing costs is there strong domestic investment ratio. Other debt-ridden countries are not so fortunate, and the seemingly endless Euro-Zone Debt Crisis  continues to threaten the macro stability of the global economy.