What happens to old car showrooms after auto dealerships shut down? They turn into catwalks, galleries, schools, theaters, churches and yoga studios.
Last year, economists Ken Rogoff and Carmen Reinhardt published what will become (and may be already if that were possible) a classic. The book is entitled, This Time is Different: Eight Centuries of Financial Folly. It traces the history (both recent and ancient) of a plethora of failed attempts by countries to borrow their way to prosperity.
In his January 29th newsletter, John Mauldin selects some of the juicier pieces for citation. They make for sobering reading. Enjoy (or maybe not.)
The Kauffman Foundation has just published its first survey of leading economics bloggers regarding the near future. Go to the site below and see whether your views line up with others.
Ben Bernanke’s reappointment as Chair of the Federal Reserve Bank remains in the hands of the U.S. Senate. Many are calling for a negative vote. I (and Ed Glaeser in the linked piece below) beg to differ and would like to point out that central bankers are not and should not be in charge of solving all the ills of the economy nor can they create all such ills.
You beat me to it. The video is both fun and illuminating.
Uwe Reinhardt, in today’s New York Times Economix Blog argues that Americans do not have a good sense of balance in terms of understanding the role of government. In short, they want incredible security, especially with regard to health care, but want someone else to pay for it.
Big Think’s “What Went Wrong?” is a series of interviews with a number of key members of government, business, academia, and media on the subject of the financial crises.
Alum and former Admission Office colleague Seth Harris recently moved to consulting firm Hardwick-Day. Below and posted on the Econ board you will find an advertisement for a data analyst position at Hardwick-Day.
The KCFSI suggests financial stress resumed falling in December but remained somewhat higher than at the start of the crisis.
Efficient Market Theory is Dead! Long Live Efficient Market Theory!
Many pundits believe that the efficient market hypothesis as a way to describe financial market behavior has suffered a fatal blow from the recent financial crisis. These advocates have attempted to nail the coffin on the EMH. Jeremy Siegel, author of Stocks for the Long Run, begs to differ. Read his October 27th piece in the Wall Street Journal which I have posted on my website.
Sometimes it important not trying to read too much into what one hears. Krugman draws an intriguing or at least amusing relationship between the Fed chair’s statements and statements made by Peter Sellers character in Being There. Enjoy.
This week’s Economist magazine features a special report on the world economy. The authors address the current state of the world economy as well as conjecture about a “new normal” for the path forward. This indepth and well referenced report serves as great background for discussion about the state of the world’s economy, how we reached this state, and what are the prospects for the future. Follow the link below to indulge.