The article argues that recent executive overreach and politicization have severely undermined established norms of U.S. civil-military relations. To restore professional standards, the incoming Congress must actively exercise its oversight powers, moving beyond mere criticism to demanding transparency in defense policy and personnel decisions. Key reforms include enforcing meritocratic promotion processes, requiring documented justification for senior officer removals, and preventing the partisan use of the military. These actions are crucial for bolstering public trust and ensuring the military remains a nonpartisan instrument of civilian control.
Big Macs Say the Dollar is Way Overvalued. i Pad Minis Say It's Not so.
English Summary
The analysis compares two currency valuation indices—the Big Mac Index and a proprietary Mini Mac Index—finding conflicting results regarding the US Dollar's value. The discrepancy stems from the goods used: Big Macs are restricted products, while iPad minis can move globally and cheaply, making them a more accurate measure of market efficiency. While traditional metrics suggest significant dollar overvaluation, the Mini Mac suggests it is slightly undervalued. Policymakers should be wary of relying solely on simple 'law of one price' models, as these may fail to account for deeper structural economic factors such as capital controls or pent-up consumer demand.
中文摘要
本分析比較了兩個貨幣定價指數——麥當勞指數（Big Mac Index）與專有的迷你麥當勞指數（Mini Mac Index），並發現兩者對於美元的價值評估存在矛盾。這種差異源於所使用的商品不同：麥當勞屬於限制性產品，而iPad mini則具備全球流通性和低成本特性，因此被認為更能準確衡量市場效率。雖然傳統指標暗示美元明顯高估，但迷你麥當勞指數卻指出其略微低估。政策制定者應謹慎避免僅依賴簡單的「一價定律」（law of one price）模型，因為這些模型可能無法充分考量資本管制或積壓消費需求等更深層次的結構性經濟因素。
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