Isn't it strange that such a wide gap exists between business people and economists? Possibly the economists get lost in theory. For a business person, the reality of China under valuing its currency is the most important fact to consider when thinking about doing business in Asia. And yet, for an economist like Cowen, its as if the issue doesn't really exist. I also find it odd that Cowen, in different posts on his blog, will sometimes claim that America has a robust economy because its economy is free-market, but then in other posts he complains about the heaviness of government intrusion into the market. This strikes me as inconsistent - either the government is heavy-handed, or the economy is free-market. If he really believes that America is both free market and yet it has an intrusive government, then it seems to me his theories need to allow for the possibility that the economy has a robustness due to some of the intrusions that the government makes. That would be the argument I would make, regarding some of the investments in R&D that the government has made over the decades - not free-market, but good for the economy.