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A quick look at Bloomberg News's opinion section

December 11, 2012 For more, visit
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FROM THE EDITORS

Marriage:
"The question before the U.S. Supreme Court is not whether to allow same-sex marriage, but how. . . . Last week the court agreed to hear two cases involving the constitutionality of same-sex marriage. Theodore Olson, one of the lawyers for proponents of same-sex marriage, called it 'perhaps the most important remaining civil-rights issue of our time.' He is undoubtedly right about that."


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Italy:
What will Italy's Prime Minister Mario Monti do next? "Not surprisingly, many investors and Italian business leaders say they would like to see Monti run in the elections that his departure will force, probably in February. . . . We're fans of Monti, too, and are worried about the fate of the euro area's largest at-risk economy. Still, he should think long and hard before running."


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COMMENTARY

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Cass R. Sunstein

"There are real-world authors, and there are implied authors." For example, "New York Times columnist Paul Krugman is a Nobel winner and a national treasure, and he knows what he is talking about, but at his worst, his implied author is arrogant and self-absorbed."

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Ramesh Ponnuru

Three leading Republicans, Louisiana Governor Bobby Jindal, Senator Marco Rubio of Florida and Representative Paul Ryan of Wisconsin, "are all talking about middle-class economic concerns. All three men seem to have realized that failing to address these concerns was the party's biggest mistake, and rectifying that mistake is now its biggest challenge."

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William Pesek


The real winners of Japan's election may be the hedge-fund managers "counting on a doomsday scenario: a widening trade deficit, a plunge in the yen and a devastating surge in yields in Japan's $12 trillion bond market."

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Pankaj Mishra
One of this year's most remarkable events "was the agreement between the Philippine government and the insurgent group Moro Islamic Liberation Front. If successful, it may not only terminate decades of secessionist violence in Mindanao, the second largest island in the Philippines; it may also inspire hope in a wide swath of Asian countries damaged, politically as well as economically, by internecine conflicts."

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Steven Greenhut

In California, a new cap-and-trade system "adds yet another unpredictable variable to a budget process that is famous for gimmicks and overly optimistic projections. . . . The cap-and-trade debacle is another reminder that California officials continue to pursue two destructive policies simultaneously: punishing wealth creation and business owners through higher taxes and additional regulations, while spending revenue faster than it comes in."

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FROM THE BLOGS

The Ticker

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William Pesek on Michael Woodford's new book on Olympus
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Echoes

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Philip Scranton on federal efforts to save the railroad industry during the Great Depression
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The Ticker

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James Gibney on the art of reading the future
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