Rachel Kranton

For Rachel Kranton's latest contributions to The Japan Times, see below:

Commentary Nov 7, 2011

Wrong timing by the Euro-skeptics

For Britain's Euro-skeptics, the current eurozone crisis has an air of inevitability and opportunity. The crisis validates their view of the single currency as a straitjacket forcing disparate economies into an unworkable union. "We told you so", crow Britain's anti-European politicians, goaded on by their ...

Editorials Oct 19, 2011

Preparing for future disasters

Following discussions in the wake of the March 11 quake and tsunami, an experts' panel of the Central Disaster Management Council submitted its final report to post-disaster reconstruction minister Tatsuo Hirano in late September. The report called on the central and local governments to ...

Editorials Oct 18, 2011

Economic trouble in China

The decision of China's sovereign wealth fund to buy shares of four of the country's biggest banks is a warning signal. The move to prop up the plummeting value of those institutions is intended to boost confidence; instead, it has highlighted the many unknowns ...

Commentary / World Sep 15, 2011

Will the real Dick Cheney please stand up?

He's been called Darth Vader, feared or derided as a trigger-happy, torture-loving puppet master who called the shots over the eight years of the George W. Bush presidency. And now, with the publication of his memoir, "In My Time," Dick Cheney has once again ...

Commentary Aug 29, 2011

Budget repair and liberal defiance

The residues of liberalism's Wisconsin Woodstock — 1960s radicalism redux: operatic lamentations, theatrical demonstrations and electoral futilities — are words of plaintive defiance painted on sidewalks around the state capitol. "Solidarity forever" was perhaps painted by a graduate student forever at the University of Wisconsin. "Repubs ...

Editorials Aug 25, 2011

Back to the rice futures trade

In Japan, futures trading for rice started in 1730 at Dojima, Osaka, with the Tokugawa shogunate's approval. Such trading ended in 1939 as the government's wartime control of the economy was strengthened. On Aug. 8, futures trading for rice resumed in Tokyo and Osaka ...

Editorials Dec 26, 2010

New START to arms control

The New Strategic Arms Reduction Treaty (START) has won ratification in the U.S. Senate, passing by a 71-26 vote. Ratification is a victory for President Barack Obama, those who seek a world with fewer nuclear threats as well as proponents of a constructive U.S.-Russia ...

Editorials Jul 8, 2010

Scrutinizing party goals

The Upper House election is Sunday. The election represents a chance for voters to give their verdict on the performance of the Democratic Party of Japan-led administration, which began in mid-September 2009 after a historic Lower House election ended decades of Liberal Democratic Party ...

Commentary / World May 20, 2010

Broaden your vision with identity economics

BERKELEY, Calif./DURHAM, N.C. — A great strength of economics is its ability to examine how decisions are made from the point of view of decision makers. For example, economics can explain in this way why consumers buy what they do. It also offers a ...

Commentary Nov 1, 2009

Avalanche of evidence on vanishing ice caps

LONDON — The news is bad, and it's coming in fast. Turn tens of thousands of scientists loose on a problem for two decades, and the results will seem pathetic for the first few years, because it takes time to gather the data — ...