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economy
The Great Depression analogy
Over at The Atlantic, Megan McArdle had this to say about the analogy between the current recession and the Great Depression.
I don’t want to push the Great Depression analogy too far, but what’s surprising when you go back to primary sources from 1930 is the optimism. I don’t mean to imply that everyone thinks things [...]
Isn't not over until it's over
I’ve heard some whispers that we’ve hit the bottom or that things are getting better. This Economist article suggests that there are times when optimism isn’t a good thing. Robert Reich, too, thinks that we’re not at the bottom yet.
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Richard Posner and the current "Depression"
Richard Posner, the jurist I most love to read and whom I wish was wrong more than I’m afraid he isn’t, recently made the admission in this Bloomberg podcast that, yep, it’s a “depression”. A review of his recent book in the A Failure of Capitalism: The Crisis of ‘08 and the Descent into Depression, is [...]
Migrant workers (of the world) going home(less)
This, too, was bound to happen. The jobs are disappearing, from the low pay, low skill jobs, to the higher paid, more skilled work. For those who want fewer “undocumented persons” in the US, this is good news. But one unintended consequence?
No longer able to find work, Hispanic day laborers have forged a hidden network [...]
Bailouts: more of the same?
I’ve been watching Fareed Zakaria fairly faithfully. This is one segment I missed, though. Take a moment to watch the video with Niall Ferguson.
Eminent British historian Niall Ferguson appeared on Fareed Zakaria’s CNN show to discuss the financial crisis and the bank bailouts. Ferguson had tough criticism for the Obama administration’s handling of the crisis, [...]
Prepare for the unknown by studying how others in the past have coped with the unforeseeable and the unpredictable.
-- George S. Patton