Losing Interest

By Kevin Maney – Newsweek Banking as we know it is starting to look more outdated than a dot-matrix printer. In China, consumers are rushing to give their savings to Internet companies instead of banks. In the Philippines, an emerging… Continue Reading

A Book That Needed To Be Written

By James Kwak – The Baseline Scenario I have previously written about (here, for example) what I call economism, or excessive belief in the little bit that you remember from Economics 101. The problem is twofold. First, Economics 101 usually… Continue Reading

How Finance Gutted Manufacturing

Suzanne Berger – Boston Review* In May 2013 shareholders voted to break up the Timken Company?a $5 billion Ohio manufacturer of tapered bearings, power transmissions, gears, and specialty steel?into two separate businesses. Their goal was to raise stock prices. The… Continue Reading

Plea Time for Snowden

Daniel Medwed and Michael Meltsner – The Nation A plea bargain, that is?it?s time to make a deal. Let?s start with the obvious: Edward Snowden doesn?t want to spend the rest of his life in Moscow?or Ecuador, Brazil or the… Continue Reading

Wealth Over Work

Paul Krugman – The New York Times It seems safe to say that ?Capital in the Twenty-First Century,? the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year ? and maybe… Continue Reading