Failed Coup in Turkey Shouldn't Shake Markets
History Shows the Effects of Attempted Coups
Bloomberg View's newest columnist, Tyler Cowen, has good news for investors who were anxiously watching the news from Turkey. The economic effects of coups follow some predictable scripts. When an autocrat is deposed, history shows, the economy usually improves. When a democratically elected leader is forced out, economic growth generally slows. A situation like in Turkey is different though: Failed coups in democracies have had no observable economic effect.
GOP Leaders Are Wrestling With the Big Questions
The next four days as the Republican National Convention unfolds in Cleveland, we'll watch the intricate dance as the party's factions line up, more or less, behind one candidate. In parallel conversations, writes Albert R. Hunt, party leaders will be trying to reconcile their priorities with those of the voters who have backed Donald Trump.
Evangelical Support for Trump Was Preordained
The religious right wasn't looking for a model of virtue. Francis Wilkinson points out that conservative Christians found what they wanted in this candidate: a street fighter. By backing Trump, writes Ramesh Ponnuru, the social conservatives have reasserted their power in the Republican Party.
It's All About Recruiting
You thought you understood the definition of a pyramid scheme. You thought you understood how Herbalife's business model works. And then -- boom! -- the Federal Trade Commission decides that Herbalife is not a pyramid scheme. Makes Matt Levine wonder what's up.
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