Must-Read: Where the smart young whippersnapper Ashok Rao shies at the jump here is in failing to specify where he thinks the market failure is, and how to correct it. Is the demand by foreigners for safe dollar-denominated assets an improper one? And why today is it only the U.S. government–rather than, say, Apple or … Continue reading Must-Read: Ashok Rao: How Do Net International Positions Matter