Jul 11

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'Have Wit, Will Travel'

Economics was dubbed "the dismal science" by 19th century English intellectual Thomas Carlyle. The reason: the Reverend Thomas Malthus' grim prediction, around 1800, that population would inevitably outstrip food supply, since the former grows geometrically (1,2,4,8...), the latter, arithmetically (1,2,3,4...).

Stephen Roach, of Morgan Stanley and now Yale and author of the book "The Next Asia," has long been among the most astute and independent of economic forecasters. He has also spent much of the past decade in the…