Writing Worth Reading
Writing Worth Reading
Facebook, Google and others have latched onto wheeze of having two classes of share, so they can sell ownership stakes while keeping voting rights for themselves. Why? Because they can. And it's part of a significant shift in power
Ariely's experiments show that people are more likely to cheat after witnessing others get away with dishonest behaviour. But is it possible to create circumstances in which they can witness cheating and yet remain virtuous?
US has been ruthless about breaking down barriers to free trade. Except in healthcare. It's one of the reasons why American healthcare costs have risen so fast. And it makes the logic of medical tourism harder and harder to resist
An eye-opening listicle. Try this for starters: "The number of Americans who don't have health insurance: 49.9 million." Not surprised? Well, how about this: "Americans age 60 and older owe $36bn in student loans"
Academic paper analyses Keynes's record as an investment manager. From 1924 to 1946 he beat the UK stock market by eight percentage points a year—worthy of a Buffett or a Templeton. And for Keynes, it was only a sideline
"Research suggests not only that the government could raise much more revenue by sharply raising the top tax rates paid by the richest Americans, but it could do so without slowing economic growth." Ready for an 80% top tax rate?
"I came up with an ultra-perfect top-secret method for beating the stock market. I saw it right there on the screen after 30 straight hours of computer programming. My heart was beating fast. I was sweating when I went to sleep"
American corporations declare bankruptcy without shame, wipe away debts, recapitalise, resume business. Whereas bankrupt individuals lose everything, including homes. Why? Because banks and corporations have political power
Sweden was the first to introduce bank notes in Europe in 1661. Now it may be first to eliminate them. "There are towns where it isn't possible anymore to enter a bank and use cash." About time too. Rest of the world, take note
Homeowner's horror story. "The bank believed we could technically continue to make our monthly payments, even afford to pay more. They didn’t consider our deflated home value or the fact that we had another dependent and had to eat"
Last year, an ex-jockey with superior negotiating skills and a mind for maths took three casinos in Atlantic City for $15m. And it wasn't by cheating, any other dubious activity or merely by striking it lucky. Here's how he did it
Whistleblowers expose dubious practices at JPMorgan Chase, over collection of funds from delinquent credit card borrowers. So severe that "the bank's computer systems frequently disagreed about how much debtors actually owed"
