Donald Trump's talk on trade suggests a deviation from the principle that both parties to a transaction can benefit from it.
In the model, the mismatch between assets (loans) and liabilities (deposits) is simply a liquidity issue, which deposit insurance can help address.
Every day, we express ourselves in 500 million tweets and 64 billion WhatsApp messages. We perform more than 250 million searches on eBay. On Facebook, 864 million of us log in to post status updates, comment on news stories, and share videos.
Adam Smith was a radical and revolutionary in his time—just as those of us who today preach laissez faire are in our time.