“Culture makes all the difference,” Romney said at a fundraiser in Israel, comparing the country’s economic vitality to Palestinian poverty. Certainly there is a pedigree for this idea. Romney cited David Landes, an economics historian. He could have cited Max Weber, the great German scholar who first made this claim 100 years ago in his book “The Protestant Ethic and the Spirit of Capitalism,” which argued that Protestant values were the most important fuel for economic progress.
After 9 months on hold, the Fed could cut rates in September. Why the long
pause may extend stocks’ rally.
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The long pause between rate cuts could be particularly bullish for
equities, potentially extending and broadening the stock market’s rally,
analysts said.
13 minutes ago
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