Systems Letter
Three times a week — Monday, Wednesday, and Friday — I send out a short note. Each one takes a current economic or political event and uses it as a doorway into the systems shaping it.
August 16, 2025: Position Before Force
Leverage is often described as a matter of strength, but it is just as much a matter of position. A tool’s force depends on what it rests against — a structure that holds while pressure is applied. In political economy, those fixed points are consistency, time, and alignment.
August 15, 2025: The Stagecraft of Security
The arrival of federal forces in Washington began not with the sound of sirens or the weight of an unfolding emergency, but with the president’s portrayal of the city as a lawless expanse, gripped by “roving mobs” and “bloodthirsty criminals.”