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Understanding the Republican Party’s rightward march

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WHEN Gerald Ford accepted the Republican Party’s nomination for president at the 1976 convention, he stood, literally, between the party’s past and future. He shook hands with the future, standing on his right: Ronald Reagan, the challenger he narrowly defeated. To his left, the past—Nelson Rockefeller, the vice-president whom Ford dropped from the ticket—dutifully cheered. Ford would go on to lose to Jimmy Carter that autumn; four years later, Reagan would win the nomination and the first of his two landslide general-election victories. Rockefeller, meanwhile, would leave public life and die at his desk in 1979.

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Pete Hegseth once scared America’s allies. Now he reassures them

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TO SOME he embodies the “revenge of the field-grade officers”, the angry mid-ranking veterans who returned from Iraq and Afghanistan with loathing for the politicians and generals who sent them to fight losing wars. Pete Hegseth, a former army major and now America’s defence secretary, celebrates soldiers “with dust on their boots”. But though he may be a MAGA radical at home, there are signs that he is turning into a surprisingly conventional American globalist abroad.

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Economics

Police are cracking down on cyclists in New York City

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PITY THE cyclists of New York City. As well as having to slalom double-parked cars and piles of rubbish, they only get a few weeks a year without oppressive humidity or frigid cold. And this spring, even their meteorological bliss has been disturbed. The New York Police Department (NYPD) has started issuing criminal summonses for bike riders committing a slew of seemingly low-level fouls. Now, if caught running red lights, stopping in the pedestrian crossing or wearing headphones, wayward cyclists must appear before a judge, even if they are not contesting the fine. If they do not, they risk arrest.

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Economics

California’s carbon market reaches an inflection point

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IT WAS THE equivalent of a warning siren. The results of California’s latest auction of carbon allowances, released on May 29th, showed that prices had hit the floor. Each quarter companies shell out for credits that cover their greenhouse-gas emissions. Demand is weak, and lower revenues from the auction are bad news for lawmakers who are already trying to plug a $12bn budget deficit. The poor showing is also a signal that firms are not confident that California’s cap-and-trade programme, the fourth-largest carbon market in the world, will continue to exist.

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