Writing Worth Reading
Writing Worth Reading
Interview with economist Paul Krugman on future of eurozone: "Greece was probably a doomed prospect from the moment that we got the truth about their budget. Spain, which is really the epicenter, is still savable"
"Being wealthy and feeling rich are often inversely correlated. In a room full of rich men, only one doesn’t feel poor by comparison. This lesson is often overlooked in the ongoing debate over income inequality"
German economists call for the "Geuro". Greek government may soon be forced to issue IOUs to state workers. That would mean a parallel circulation of promissory notes and euros. So why not formally recognise a second Greek currency?
Against populist Keynesians, and unthinking economic stimulus. "They do the world a disservice by suggesting there are easy ways out. By misleading people and their leaders, they may well precipitate revolution rather than recovery"
Sandel considers where economic markets belong. "Suppose, on your wedding day, your best man delivers a heartwarming toast, a speech so moving it brings tears to your eyes. You later learn that he bought it online. Would you care?"
Public companies "filled the world with cars and televisions and computers. They brought transparency to business life and opportunities to small investors." But now many companies choose to stay private. Does it matter?
In "Why Nations Fail", Acemoglu and Robinson argue that institutions determine national prosperity. Not history and geography. Diamond reaches for a synthesis—that history and geography determine institutional formation
Is our financial behaviour decided by genes? A group of young economists believe so. They've gone beyond neuroeconomics, and established a new field – genoeconomics. Here's what they hope to achieve. And the issues they face
Why do so many seek to find a root cause for the financial crisis? "Just as we are wired to like a diet rich in fats and sugars, we have an appetite for simple, coherent narratives. Neither habit is good for our long-term health"
Evidence supporting Keynesian pro-stimulus approach is astonishingly thin, says Barro. Now France and Greece are likely to diverge from path of austerity, imperilling the euro. At least we'll get better data on what works
Shocking report from London. Priced out of housing market, some are forced to rent garden sheds. One family pay to live in a walk-in freezer. Landlords happy to cash in. What does this say about free markets, capitalism, society?
Great story from FDR election campaign. And, with a little help from Mark Twain, a lesson in how to persuade people to pay you for things when, by rights, it should be you paying them
Wikimedia Commons. The Golden Age by Lucas Cranach the Elder
Fabulous illustrations of the euro crisis; make of the analysis what you will
"Money is really a sort of a gentlemen's agreement to agree on where the money is at a given time"
