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Even the Experts Can Get It Wrong

A daily digest of opinions and analysis from Bloomberg View.

Nothing Will End Trump's Conflicts

President-elect Donald Trump revels in his ability to add to -- and subtract from -- a company's bottom line. The biggest drug companies were the latest to get dinged by Trump's words during Wednesday's news conference, losing $24 billion in 20 minutes after he said the industry was "getting away with murder" on prices. But making stuff up is just part of the new normal, says Francis Wilkinson. And Trump has shown no signs of stopping.

Milton Friedman's Cherished Theory Is Laid to Rest

Economists once bought the idea that consumers don't respond to temporary changes in their income -- saving windfalls for rainy days or borrowing when times are harder, for example. That idea, however, is dead wrong, Noah Smith says. And even the greatest thinkers can be mistaken. So why haven't experts admitted it yet?

Trump's Team Looks Smarter on Russia

At his Senate confirmation hearing, Secretary of State nominee Rex Tillerson proposed the most coherent Russia policy the U.S. has seen this century. Leonid Bershidsky lays out the case that Tillerson managed to stay in sync with his new boss while signaling that improved relations with Vladimir Putin shouldn't come at any price.

Why Sports Should Be More Political

It's been an unusually political season for the NFL: Led by San Francisco's Colin Kaepernick, protests against the national anthem reverberated through stadiums and sparked fiery debates in America's living rooms. Research shows that pro athletes can change political attitudes, according to Boston College's Michael Serazio. And athletes should be taking notice.

Ritholtz’s Reads

 (Read Barry Ritholtz’s full news roundup.)

Bloomberg Gadfly

(Read more from BV’s sister site for fast business commentary.)

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