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Stiglitz
Joseph E. Stiglitz, Nobel Prize winning economist, is famous for his analysis of information asymmetry, a phenomenon which causes markets to be inefficient because the players have incomplete and...
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Japanese banking issues & winter fashion
Joan sent me this: “Following the problems in the financial sector in the US, uncertainty has now hit Japan. In the last 7 days the Origami Bank has folded, the Sumo Bank has gone belly up and the...
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Financial crisis: reading
One of the many things on my to-do list is getting a better understanding of economics and how the financial system works. It can’t be totally incomprehensible, can it? Here’s a reading list of blogs:...
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Corporate welfare bums
Naomi Klein (”The Shock Doctrine“) wrote an article in Rolling Stone saying the bailout on Wall Street was “borderline criminal”. In a recent interview on Democracy Now she says the G20 conference in...
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Arlo Guthrie: I’m changing my name to Chrysler
Some things just don’t change. Except the figures, of course. In this old song, just exchange “million” for “billion” or “trillion”. And, ok, ok, it’s all about jobs. Still, not a good move, this...
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Hunger
Helmut took out the trash a few days ago and said that a little old lady with a flashlight came round to the trash can and started poking through the trash he had just dumped. Man, this is Munich, one...
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Gold Cadillac
Detroit is going down. The whole rescue package is just so hopeless. I remember when American cars were still attractive. Cadillacs were the family car, my dad’s one life-long fetish, bought used for...
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