There has been a fair amount written recently about various institutional cartels that are thriving in the U.S. despite antitrust laws designed to prevent their existence. My previous column compared Wall Street’s few remaining investment banks to a cartel, with explicit pricing power over its hundreds of thousands of customers, an advantage that will only grow greater as the economy improves and the number of thriving banks continues to diminish. Likewise, Joe Nocera, a columnist for the New Yo

Two items have recently burst onto the media scene: a movie called “The Iron Lady” about one of the greatest women in history ― former British Prime Minister Margaret Thatcher ― and a growing European recall of breast implants in danger of exploding. I wonder what the former would say about the latter. Did it ever cross Thatcher’s mind that women’s lives could be meaningfully enhanced by surgically strapping gel packs to their chests? How did women get from Thatcher to this?Any such unfortunate

Mitt Romney, who gets an 85.5 percent probability to win the Republican presidential nomination by the online betting service Intrade.com, is a formidable candidate ― on paper. He is handsome, articulate, has impeccable integrity and a charming, down-to-earth wife. He’s ideologically close to the American center and can boast of success in diverse endeavors. It’s in person where his problems begin. He’s decent and likeable enough, both critics and some supporters agree. They also agree he doesn’

The U.S. immigration system is a capricious and convoluted bureaucracy. Take, for example, the rules that children and spouses of U.S. citizens must navigate to legalize their status.Currently, immigrants who qualify for a visa, and ultimately a green card, must return to their homelands to receive it. The problem is that the moment they leave the United States, they trigger automatic sanctions that bar them from returning for up to 10 years. Some can secure waivers to re-enter, but only if they

KOLKATA ― The year 2011 will be remembered as the time when many ever-optimistic Americans began to give up hope. President John F. Kennedy once said that a rising tide lifts all boats. But now, in the receding tide, Americans are beginning to see not only that those with taller masts had been lifted far higher, but also that many of the smaller boats had been dashed to pieces in their wake.In that brief moment when the rising tide was indeed rising, millions of people believed that they might h

WASHINGTON ― As the United States and Iran move closer toward open confrontation, it’s important that both take quiet steps to avoid the miscalculations and misunderstandings that can lead to an inadvertent military conflict. It’s been done before: During the Cuban missile crisis in 1962, President Kennedy used a back channel to communicate American resolve to the Soviets, and also explore a formula for settlement. The key points of contact were his brother, Attorney General Robert Kennedy, and

Speaking from what he apparently considers a position of strength, Syrian President Bashar Assad this week condemned the “terrorists,” “traitors” and “outsiders” he said were leading the 10-month-old uprising against him and threatened to strike his enemies with an “iron fist.” Preventing such an offensive by the regime, which has complied only fitfully with a demand by the Arab League that it restrain itself, will be difficult. But the Arab League and the United Nations can and must do more to

At some point in every negotiation over fiscal policy, once the high-minded speeches and other pleasantries have been delivered, the disagreeable details poison the atmosphere. Everyone is in favor of tax and entitlement reform, after all, until they see the specifics. The reaction to the cost-cutting strategy that Defense Secretary Leon Panetta revealed last week suggests this is about to happen with regard to Pentagon spending. Let me be very clear: Substantial efficiencies can and should be w

Hugo Chavez, the peacock president of Venezuela, called President Obama a “clown” a few weeks ago, and “an embarrassment.” My suggestion, President Chavez: If you want to find an embarrassing clown, look in the mirror.Did Obama have a model of himself crafted into a wise man, standing next to Joseph in a downtown Caracas nativity scene, peering into the baby Jesus’s manger?Did Obama send a florid note to Russian Prime Minister Vladimir Putin congratulating him on his “great victory” in parliamen

It has been pointed out for years that Japan’s diplomatic standing is deteriorating, a condition likened to “ground subsidence.” With the prime minister being changed annually for six years in a row, international awareness of this country’s existence has further declined.Last year, we received heartwarming help from all over the world after the country suffered the disastrous Great East Japan Earthquake. This international bond made us recognize afresh the importance of diplomacy.This year, Jap

That Pervez Musharraf’s rally in Karachi on Sunday wasn’t much of a success goes without saying. Television showed the reality, and flags and buntings failed to hide the lack of popular enthusiasm. Coming after Imran Khan’s much larger rally last month, the small crowd must have been embarrassing for the former president-general. But this was his first Karachi rally, so let us wait for more such episodes of “enlightened moderation.” Addressing the people from Dubai via telephone, the former pres

The ongoing visit to China by the president of the Republic of Korea, Lee Myung-bak, has come at an important time. In a few months, the two countries will mark the 20th anniversary of the establishment of diplomatic relations and they have designated this year one of friendly exchanges. Flourishing trade and people-to-people exchanges have been the most impressive areas of Sino-ROK cooperation. The Sino-ROK trade volume now exceeds the ROK’s trade volume with the United States and Japan combine

One major policy goal of the Ministry of Employment and Labor for this year is to reform shift work practices at domestic companies. The reform drive is intended to shorten Korea’s notoriously long working hours, which is essential to improving workers’ quality of life, creating jobs and enhancing productivity.The ministry’s reform initiative is belated but welcome as it can benefit workers, their companies and the national economy. Yet the benefits don’t materialize automatically. As shift work

The Ministry of Legislation has drawn fire from women’s organizations by interpreting child care leave in a way that could justify discrimination against female workers for taking leave to take care of their infants.The controversy was sparked by the Ministry of Culture, Sports and Tourism, which sought the Legislation Ministry’s authoritative view on the eligibility of a second-grade female librarian, who took child care leave during her six years in the office, for promotion to a first-grade p

Malaysian opposition leader Anwar Ibrahim arrived at the Jalan Duta High Court Monday morning convinced he was going to be found guilty of committing sodomy.Two hours later, he left the court cleared of the charge of sodomizing his former aide Saiful Bukhari Azlan.The judgment left both sides of the political divide stunned as the two opposing sides had been equally convinced that Anwar would be pronounced guilty.The Pakatan Rakyat side could hardly believe their ears after years of slamming the

Of all the realizations Barack Obama has made in three years in the White House, this may be the most crucial: The U.S. is a Pacific nation. Odd as it sounds, the U.S. spent the past decade forgetting a fact that’s obvious from consulting a map or tracking container ships. When George W. Bush’s administration bothered with Asia, it was all terrorism all the time. Quite odd, considering how reliant the largest economy became on Asia’s money during his tenure. The region became America’s banker. O

My political prediction for 2012: Barack Obama and Hillary Clinton versus Mitt Romney and Marco Rubio.Joe Biden has been a good and energetic vice president, but Obama will need to stir the passions of the Democratic base and Biden won’t suffice. (Biden will swap places with Clinton, becoming secretary of state ― a position he’s apparently coveted for years.)A highly disciplined and unified Republican opposition has taken a toll. While the president delivered health care, it’s not as bold as man

The main opposition Democratic Unified Party is undertaking an important experiment that could reshape the election culture in Korea. It has opened its leadership election process to ordinary citizens and allowed them to vote through their mobile phones. The party’s unprecedented move is being closely watched by rival parties as well as political analysts as it could also affect the outcomes of the coming parliamentary and presidential elections.According to the DUP, more than 643,000 citizens h

Lotte Mart has joined a small but growing number of companies that help people continue to work beyond its mandatory retirement age, which is set at 55. The discount store chain announced Monday it would hire 1,000 senior employees aged between 56 and 60 under indefinite-term contracts this year. According to the company, the senior workers will be treated the same as regular employees. They will be entitled to the four social insurance benefits ― national pension, health insurance, employment i

President Barack Obama has established that he’s done with Congress for the rest of his term. Feeling chumped after Republicans wouldn’t reach agreement with him on a broad deficit-reduction agreement, Obama has decided it’s time to campaign against GOP leadership of the House and Senate.Thus the dubious move to ignore the law and appoint a head of the new Consumer Financial Protection Bureau without the consent of the Senate.We can’t really blame Obama. Republicans have been playing gotcha with