This changes everything.

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Trading Barbs About Free Trade

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Debating Free Trade and the Populist Backlash

For years, economists saw trade as a big win for everyone. Then, China entered the picture. Tyler Cowen and Noah Smith meet to discuss what we really know about globalization, and how policy makers should act. 

Race, Not Class, Dictates Republicans’ Future 

No matter how much some pundits want to believe it, there’s no broad blue-collar movement buoying Donald Trump — just angry white conservatives. Francis Wilkinson says that’s why you shouldn’t expect Republicans to become the working-class party anytime soon. 

War-Weary Billionaire Backs Trump for the Wrong Reasons

Silicon Valley libertarian Peter Thiel says he supports Trump because he wants to end America’s endless wars. Eli Lake says his actions tell another story. 

AT&T Ignores Its Own Painful Past

Critics from across the political spectrum are raising concerns about AT&T’s proposed mega-merger with Time Warner — and Stephen Mihm sees history repeating. Before acquiring Time Warner, he warns, the phone behemoth should consider its failed attempt to control radio in the 1920s.

Healing Christianity’s 500-Year Rift Is Worth a Try

Pope Francis made headlines on Monday by praising Reformation leader Martin Luther — who’s technically still under a ban of excommunication issued by Pope Leo X — but it wasn’t enough to repair the centuries-old schism between Lutherans and Catholics. Still, Noah Feldman sees reason for hope in the long term.

Ritholtz’s Reads

  • Why CEOs are getting fired more (The New Yorker)
  • Sober thoughts on Apple’s new Touch Bar for MacBook Pro (Fast Company)
  • Taxing the rich: New IRS statistics show a concentration of U.S. income among a few households (Real Time Economics)

(Read Barry Ritholtz’s full daily news roundup.)

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