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Why Bad Economics Thrives

Why Bad Economics Thrives

Regarding 'Notable & Quotable: Thomas Sowell on Tariffs' (April 4): Thanks to the Journal for reprinting the thoughts of a national treasure. Here is another gem from his book 'Basic Economics' (2000): 'Another reason for public support for protectionism is that many economists do not bother to answer either the special interests or those who oppose free trade for ideological reasons. The arguments of both have essentially been refuted centuries ago and are now regarded within the economics profession as beneath contempt.'
Thomas Murphy
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New York may have America's top pizza, but LA is at its heels, Italian judges say
New York may have America's top pizza, but LA is at its heels, Italian judges say

CNN

time33 minutes ago

  • CNN

New York may have America's top pizza, but LA is at its heels, Italian judges say

The best pizza in the United States comes from a wood-fired oven on New York's Lower East Side, an Italian pizza-ranking guide has announced. For the second year running, the Naples-based 50 Top Pizza judged Una Pizza Napoletana the winner in its annual assessment of American bakers. The ranking focuses strictly on Neapolitan-style pizza — the thin, round, fastidiously prepared variety from the city that considers itself the cradle of pizza — but to aficionados, it's the only type that matters. In a one-two punch, the Big Apple also claimed the top individual pizza slice, with the honors going to L'industrie Pizzeria, run by Massimo Laveglia and Nick Baglivo. Last year, Una Pizza Napoletana was also rated No. 1 in the whole world. The global rankings are due to be released later this year. Una Pizza Napoletana is owned by Anthony Mangieri. Born and raised in New Jersey, Mangieri opened his first pizzeria on the Jersey Shore in 1996. Food and Wine magazine has called Mangieri 'one of the country's most skilled practitioners of the Neapolitan style' of pizza, and New York magazine called him a 'one-man Opus Dei' for authentic pizza. The organization behind the ranking, 50 Top Pizza, cited the rich flavor of his pizzas and the his straightforward approach to making them, with only a few dishes on offer and a single location. Mangieri said that perfecting his technique has been his goal since he first started making pizzas at age 15. While his focus remains the same, he said the world of pizza has changed dramatically in the nearly 30 years since he established his first restaurant. 'When we opened, no one was making the style of pizza that we make,' he told CNN Travel. Now, he says, you can find good pizza all over the world, and American diners have come to appreciate fine Neapolitan pizza. He attributes his success to a strong work ethic that limits distractions. 'It is not a concept restaurant — it is not one of 20 things that I'm doing,' Mangieri said of the restaurant on Orchard Street in New York. 'It's a life's work.' Restaurants in Los Angeles and San Francisco snagged the next two spots on the list of top pizzerias in the US, which also included nine other New York pizzerias. Pizzeria Sei, the No. 2 pizzeria in the US, is run by William Joo, whom the organization deemed 'very talented.' And American pizza 'legend' Tony Gemignani came in third with his Tony's Pizza Napoletana in San Francisco. Other cities known for their pizza also made appearances on the list, including New Haven where the restaurant Zeneli was singled out. California fared particularly well, with honors also going to pizzerias in San Diego, San Luis Obispo and Berkeley. But the gospel of Neapolitan pizza has traveled widely, and the ranking also included restaurants in Louisville, Kentucky, and Charlotte, North Carolina. The ranking was announced at the West Edge in New York's Chelsea Market on Tuesday. Have a hankering for more pizza news? The organization will announce the best pizzerias in Italy on July 15 and the world's best pizzerias in September. The top 10 pizzerias in the US according to 50 Top Pizza: 1 Una Pizza Napoletana - (New York) 2 Pizzeria Sei – (Los Angeles) 3 Tony's Pizza Napoletana – (San Francisco) 4 Jay's – (Kenmore, New York) 5 Ribalta – (New York) 6 Robert's – (Chicago) 7 Don Antonio – (New York) 8 Ken's Artisan Pizza – (Portland, Oregon) 9 Truly Pizza – (Dana Point, California) 10 La Leggenda – (Miami)

OpenAI Casts Doubt on Robinhood's New Tokenized Equity Products
OpenAI Casts Doubt on Robinhood's New Tokenized Equity Products

Bloomberg

time33 minutes ago

  • Bloomberg

OpenAI Casts Doubt on Robinhood's New Tokenized Equity Products

Robinhood Markets Inc. shares fell after OpenAI advised caution to customers taking advantage of the brokerage's offer for access to equity 'tokens' for the closely held company led by Sam Altman. The artificial-intelligence firm said the tokens offered by Robinhood aren't company equity, and that OpenAI neither collaborated on nor endorsed the offering, triggering questions about the tokenization of private-company shares more broadly.

Ukraine kills Russian navy's No. 2 commander in strike, but officials worry about Trump's military aid cuts
Ukraine kills Russian navy's No. 2 commander in strike, but officials worry about Trump's military aid cuts

CBS News

time33 minutes ago

  • CBS News

Ukraine kills Russian navy's No. 2 commander in strike, but officials worry about Trump's military aid cuts

Behind U.S. decision to hold back some weapons shipments to Ukraine Why U.S. held back some weapons for Ukraine Why U.S. held back some weapons for Ukraine The deputy commander of Russia's navy, Major General Mikhail Gudkov, was killed by a Ukrainian missile strike in the far-western Russian city of Kursk, a state-linked Russian news outlet said on Thursday. Gudkov, who previously commanded a Russian marine unit involved in the ongoing invasion of Ukraine, died of injuries sustained in the strike on a military administration building, according to the AiF website. Russia's Ministry of Defense provided no details, but confirmed that Gudkov died "during combat operations in one of the border areas of the Kursk region." An image shared by Russia's Ministry of Defense shows Major General Mikhail Gudkov, the deputy commander of the Russian navy, whom the ministry said was killed during combat with Ukraine on July 2, 2025, in the western Russian city of Kursk. Telegram/Russian Ministry of Defense Ukrainians saw it as a boost to morale at the end of a difficult week. The Trump administration said Tuesday that it had paused some weapons deliveries to Ukraine, prompting alarm in Kyiv, uncertainty among America's NATO allies, and some crowing from Moscow. The White House did not confirm which weapons were being pulled from delivery, or the scale of the reduction in U.S. military support for Ukraine. The announcement came about a week after President Trump met with his Ukrainian counterpart, President Volodymyr Zelenskyy, during a NATO summit in the Netherlands. Speaking after their meeting, Mr. Trump said he was considering sending additional Patriot missile batteries to Ukraine to help strengthen the country's air defenses against Russia's bombardment. "They do want to have the anti-missile missiles … the Patriots," Mr. Trump told reporters after his meeting with Zelenskyy, "and we're going to see if we can make some available." He added that the Patriots were, "hard to get." Ukraine's Foreign Ministry said it invited U.S. Deputy Chief of Mission in Kyiv John Ginkel to the ministry on Wednesday to stress that "any delay or procrastination in supporting Ukraine's defense capabilities would only encourage" Russia to continue its war, rather than to seek the peace that Mr. Trump has said many times he wants to help usher. President Trump said in a Thursday morning post on his Truth Social media platform that he would speak later in the day with Russian President Vladimir Putin on the phone. "Ukraine has not received any official notifications about the suspension or revision of the delivery schedules of the agreed defense assistance, so we proceed from the actual data and check the details of each element in the delivery," Ukraine's Defense Ministry said in a statement Wednesday. Zelenskyy said in a video statement that Ukraine was seeking to clarify details of any change in defense support from the U.S. CBS News' Margaret Brennan reported Thursday that Mr. Trump and Zelenskyy were to hold a phone call on Friday to discuss the war after the announcement of the reduction in U.S. weapons deliveries. Ukraine's Foreign Minister Andrii Sybiha emphasized the urgency of sustained military backing in a social media post, saying "the only way to force Russia to end the war is to increase pressure on Moscow and strengthen Ukraine." Moscow's reaction was also swift, and decidedly more optimistic. Chief Kremlin spokesman Dmitry Peskov called the news from the White House, "a logical and overdue step," suggesting that Western fatigue with the war in Ukraine would only grow. "The less weapons are supplied to Ukraine, the closer the end of the Special Military Operation is," Peskov said, according to TASS, using the Kremlin's term for the war that Russia started with its full-scale invasion on Feb. 24, 2022. Severely damaged residential buildings are seen in Kyiv, Ukraine, after a direct strike by a Russian missile, June 17, 2025. ORI AVIRAM/Middle East Images/AFP/Getty NATO Secretary General Mark Rutte acknowledged during the summit last week that the Trump administration needed to prioritize U.S. weapons inventories, but he stressed that Ukraine depends heavily on American hardware — especially ammunition and air defense systems — and he urged Washington to remain flexible, and called on Europe's NATO members to increase contributions for Ukraine. "It's a clear message to step up our own support," European Commission President Ursula von der Leyen told reporters this week, "ramping up our European defense capacities, not only at the level of the European Union, but at the continental level." Kyiv and several other major Ukrainian cities have faced an escalating barrage of missile and drone attacks over the last month, sometimes overwhelming the country's air defense systems and causing significant civilian casualties and infrastructure damage. Over the weekend, Russia launched what Ukrainian officials called the biggest aerial attack of the war, hitting energy facilities, residential areas and military infrastructure in a coordinated strike involving dozens of missiles and Iranian-made attack drones. Ukrainians say the surge in airstrikes has underscored their need for strengthened air defenses.

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