The Economist UK - 14.03.2020

14 The EconomistMarch 14th 2020

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Letters

Feeling the Bern

“It will surprise nobody”, you

said, “that we disagree with a

self-described democratic

socialist over economics”

(“America’s nightmare”, Febru-

ary 29th). But, as a 40-year

subscriber to The Economist, I

was indeed surprised by your

leader on Bernie Sanders. I

have always valued your com-

mitment to free trade and to

socially liberal policies:

universal education, efficient

and affordable health care,

legalisation and control of

drugs, workplace equality,

broad immigration and

integration, and so on.

Many of these social

policies have been disrupted

around the world by

nationalist sentiments, driven

by economic insecurity over

rising financial inequality,

which in turn is a result of

corporate giveaways, trickle-

down (or voodoo) economics,

and outright corruption.

There are two ways of im-

proving the situation. One is to

ask corporations to share their

wealth more widely with their

employees and to do more for

society. This doesn’t work

because the benefits are spread

unevenly, and it puts the civic-

minded corporation at a com-

petitive disadvantage to its less

generous competitors.

The other approach is to

allow corporations to go ahead

and make their money, and for

the government to tax them

sufficiently to provide univer-

sal education and health care

and other services. This was

the norm under Franklin

Roosevelt, Harry Truman and

Dwight Eisenhower, underpins

the democratic socialism of

Scandinavia and other happy

places, and is what Mr Sanders

advocates. I fail to understand

your hostility to it.

robin helweg-larsen

Governor’s Harbour, Bahamas

Starting with his campaign in

2016 Mr Sanders brought some

much-needed civility to politi-

cal discourse. He inspired

many by talking about actual

issues rather than the trash talk

we have got used to over the

past five years. He veers away

from inane platitudes like

“Hope and Change” and “Make

America Great Again”. Does

your newspaper really think

that American capitalism is so

desperate and fragile that it

cannot handle a serious debate

on the problems that confront

the country today?

david warren

Berkeley, California

Mr Sanders is indeed

“convinced that he is morally

right”. Yet I recall that back in

November 2012, Mr Sanders

was one of only four senators

to vote against the Magnitsky

Act, which imposes sanctions

on certain human-rights

offenders in Russia. Notwith-

standing his positions against

fracking and private health

insurance, or his sympathy

with autocratic regimes, his

vote against the Magnitsky Act

alone is proof enough that he is

far from being morally right.

steven hong

North Vancouver, Canada

How to spend it

Besides the political and tech-

nological, there are plenty of

other ways for Jeff Bezos to

spend $10bn philanthropically

on solving climate change

(“The great Bezos giveaway”,

February 22nd). You have

reported, for instance, on the

Methanesatproject, which

will police and shut down

methane leaks from oil and gas

operations globally, emissions

which represent several per

cent of the total climate warm-

ing effect (“The methane hunt-

ers”, February 1st). Perhaps the

largest problem and thus

biggest opportunity of all is the

scale and cost of investment in

solar, wind and energy storage

projects, which must be con-

structed in emerging econo-

mies. Around $20trn must be

invested in poorer areas of the

world over the next ten years.

Poor countries have spotty

track records of respecting the

rights of foreign investors,

have weaker currencies and

other challenges. Innovation

in financing solar, wind and

energy-storage projects in the

form of “blended finance” is

desperately needed to make

these infrastructure invest-

ments more affordable for

those who have, paradoxically,

the highest cost of money

today. The scale of the problem

requires government interven-

tion, but philanthropy on the

$10bn scale can lead the way.

ion yadigaroglu

New York

Mexico’s government

In response to Bello’s column

on Mexico’s government,

(February 29th), this adminis-

tration is fighting crime on

many fronts. The newly

created National Guard has

curbed the rise in the number

of murders. Kidnappings in

December 2019 were down by

31% year over year; car thefts

have fallen by 12%.

On the economic front, the

progress made in ratifying the

new trade deal with Canada

and the United States will

promote investment. In 2019

foreign direct investment grew

by 4.2%. The Mexican govern-

ment has also invested heavily

in our southern states to boost

growth and address economic

inequalities. Meanwhile, it has

kept inflation low, even while

raising the minimum wage.

The administration has a

clear strategy. It is committed

to eliminating inequality and

violence by ending the war on

drugs, strengthening the rule

of law, ending impunity, and

promoting inclusive devel-

opment. The use of force is no

longer the first option. For the

first time since 2010, attacks by

criminal groups on federal

forces have resulted in more

arrests than deaths. At the

same time, more than 9.2m

people have benefited from

social programmes or uncon-

ditional cash transfers to vul-

nerable groups. The results are

clear: a fifth of our poorest

citizens have seen their in-

comes rise by 24%. The chal-

lenges that our country faces

are vast, but the statecraft

Mexico urgently needed is at

last being delivered.

roberto velasco álvarez

Director-general of public

affairs

Ministry of Foreign Affairs

Mexico City

The new masters

The history of Chinese

management education starts

earlier than 1994 (“mbas with

Chinese characteristics”, Feb-

ruary 15th). After diplomatic

relations were established,

Jimmy Carter’s science adviser

in 1980 urged China to start the

first management education

programme at Dalian, a sea-

port. The costs for a new build-

ing and American faculty were

shared equally by the two

countries. Lectures were held

in summer and autumn be-

cause of the poor heating. The

audience was composed of

nationally selected mid-level

managers, economics and

management professors (uni-

versities were closed during

the Cultural Revolution) and

Chinese government officials.

The attendees’ level of English

was quite low, so lectures were

prepared in advance and trans-

lation was sequential. Some

resulted in books which had as

many as five printings.

To learn that now China has

its own executive programmes

abroad in countries like Swit-

zerland, teaching economics

and management with capi-

talistic characteristics, reflects

the miraculous changes which

have occurred over 40 years.

bertrand horwitz

Asheville, North Carolina

Keeping your chin up

At last, proof that facial expres-

sions are not an accurate guide

to how someone feels (“Face

blind”, February 22nd). I tend

to have a downturned mouth,

more so with age, yet life is

wonderful. Even more so now,

since I have cut out your arti-

cle, and intend to wave it at

every builder or scaffolder who

has the temerity to yell out,

“Cheer up love, it might never

happen.”

lucy beresford

London