Berfrois

Marx wondered who would educate the educator…

Marx wondered who would educate the educator…

I am not now nor have I ever been a Marxist, yet Karl Marx was one of my most important teachers.

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Hedge Tip

Hedge Tip

John Bedford Lloyd playing the character Bill Clark (based on Henry Paulson), Wall Street: Money Never Sleeps, 20th Century Fox, 2010 From Bloomberg: Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July...

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Squeezed

Squeezed

by Justin E. H. Smith In 1994 I was admitted to a few Ph.D. programs, but only two of them were not from my back-up list. One of these was UCLA, where I was admitted with full-funding for the doctoral program in Slavic linguistics, and the other was Columbia,...

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Are the Chinese prone to money illusion?

Are the Chinese prone to money illusion?

China’s monetary policy and its inflation have got people talking – particularly about the effect on other countries. But what about its effect on China’s people? Are they fooled by money illusion?

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Motives Matter

Motives Matter

by Tim Besley and Maitreesh Ghatak As we approach three years since the fall of Lehman Brothers, the incentives that led the financial sector to take on too much risk still exist. This column argues that they will remain so long as governments continue to provide an implicit guarantee that...

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Did anti-regulation lobbying fuel the subprime crisis?

Did anti-regulation lobbying fuel the subprime crisis?

by Deniz Igan and Prachi Mishra Did anti-regulation lobbying fuel the subprime crisis? This column shows that there is a strong relationship between financial industry lobbying and favourable financial regulation legislation. It argues that the financial industry fought, and defeated, measures that might have curbed some of the reckless...

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Take My Wealth, Please (Or Not)

Take My Wealth, Please (Or Not)

Stop Coddling the Super-Rich | by Warren E. Buffett

The New York Times

Our leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting....

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Krugman on Keynes

Krugman on Keynes

by Paul Krugman Keynes’ General Theory is 75 years old. In this column, Paul Krugman argues that many of its insights and lessons are still relevant today, but many have been forgotten. A broad swath of macroeconomists and policymakers are applying old fallacies to today’s crisis. As the nostrums being...

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