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	<title>Jeffrey Frankel&#039;s Blog</title>
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		<title>Oligarchy is a Symptom, Not the Cause</title>
		<link>https://www.jeffrey-frankel.com/2026/09/28/oligarchy-is-a-symptom-not-the-cause/</link>
		
		<dc:creator><![CDATA[jfrankel]]></dc:creator>
		<pubDate>Mon, 28 Sep 2026 13:04:07 +0000</pubDate>
				<category><![CDATA[2016 presidential campaign]]></category>
		<category><![CDATA[conservatives and liberals]]></category>
		<category><![CDATA[inequality]]></category>
		<category><![CDATA[campaign finance]]></category>
		<category><![CDATA[confirmation bias]]></category>
		<category><![CDATA[elections]]></category>
		<guid isPermaLink="false">https://www.jeffrey-frankel.com/?p=2353</guid>

					<description><![CDATA[TweetSeptember 28, 2026 &#8212; The American political system is broken.  We should ask how it got that way and should hope that the answer could contain a clue as to how it might get back on track. Of course, many factors are at play.   The long list includes things that cry out for reform, like [&#8230;]]]></description>
		
		
		
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		<title>Undervalued Asian currencies</title>
		<link>https://www.jeffrey-frankel.com/2026/08/17/undervalued-asian-currencies/</link>
		
		<dc:creator><![CDATA[jfrankel]]></dc:creator>
		<pubDate>Mon, 17 Aug 2026 18:26:27 +0000</pubDate>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[dollar]]></category>
		<category><![CDATA[exchange rates]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[exchange rate]]></category>
		<category><![CDATA[foreign exchange]]></category>
		<category><![CDATA[intervention]]></category>
		<category><![CDATA[Japan]]></category>
		<category><![CDATA[yen]]></category>
		<category><![CDATA[yuan]]></category>
		<guid isPermaLink="false">https://www.jeffrey-frankel.com/?p=2348</guid>

					<description><![CDATA[TweetAugust 17 – Observers of international monetary economics have shifted attention back to the exchange rates of Asian currencies.  The concern is that China’s yuan, Japan’s yen and Korea’s won are undervalued.  All three countries run trade and current account surpluses, at a time when the US is running corresponding deficits.  But given the fundamentals [&#8230;]]]></description>
		
		
		
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		<title>Recalling a Cold War adventure in Portugal</title>
		<link>https://www.jeffrey-frankel.com/2026/07/16/recalling-a-cold-war-adventure-in-portugal/</link>
		
		<dc:creator><![CDATA[jfrankel]]></dc:creator>
		<pubDate>Thu, 16 Jul 2026 11:57:22 +0000</pubDate>
				<category><![CDATA[Europe]]></category>
		<category><![CDATA[Foreign affairs]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[MIT]]></category>
		<category><![CDATA[Portugal]]></category>
		<guid isPermaLink="false">https://www.jeffrey-frankel.com/?p=2335</guid>

					<description><![CDATA[TweetJuly 24, 2026 &#8212;  Fifty years ago this month, I was one of a team of five MIT graduate students who were in Lisbon working for the Central Bank of Portugal.  Paul Krugman, another member of that  team  has reminisced, on the occasion of the semicentennial of the 1976 mission. I will contribute my own [&#8230;]]]></description>
		
		
		
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