Gridlock Itself Is Not The Problem (by Anatole Kaletsky Founding Partner, GaveKal Capital) - The votes are in and the result is yet more gridlock in...
Gridlock Itself Is Not The Problem (by Anatole Kaletsky Founding Partner, GaveKal Capital) - The votes are in and the result is yet more gridlock in Washington. For the US there is nothing unusual in this situation. Presidents have been opposed by both houses of Congress in 32 out of the 70 years since WWII, and opposed by one house in another 14 years. However, political paralysis is becoming the norm in many democracies, especially in Europe. An important question is therefore how different countries and regions can cope with political gridlock. The answer depends on whether big reforms are needed to achieve acceptable economic and social outcomes, or whether public policy is already well positioned, in which case political gridlock is fine. Differing conditions today in the US, Europe and Japan exemplify this contrast. For the US, gridlock is not a problem. In fact, another two years of Washington paralysis may be just what the doctor ordered...more: (VIEW LINK)
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