Obama’s Left Turn

I wrote a column in Financial Express about Obama’s left turn. Also see:

The associated editorial in Financial Express. White House nightmare persists by Ed Luce in the Financial Times. Neil Irwin in The Washington Post on the difficulties that Bernanke is facing on getting a second term. Also, see this sharp drop in . . . → Read More: Obama’s Left Turn

Against Government Money

Back in the olden days, people simply bartered products.  One might trade a couple of loaves of bread for a fish.  In order to ease this process so people didn’t have to bring their produce to market, over time people turned to gold, later paper money backed by gold and ultimately paper money backed . . . → Read More: Against Government Money

Lawrence Lessig on Obama’s First Year

Well, I listened to Larry talking about how Obama failed to change anything. And I heard about Larry’s plan to change this: Citizen Funded Elections. It’s astounding how someone so smart can miss the mark by so much. The problem is not that special interests are buying congressmen. The problem is that congressmen . . . → Read More: Lawrence Lessig on Obama’s First Year

Google Earns Nearly $2B in Q4

Google says that the advertising market is beginning to return to normal. And normal for them means close to a $2B quarterly profit.

Their latest earning release also highlighted a 17% year on year growth in revenues — now up to $6.67B per quarter — from $5.7B per quarter during the same period in . . . → Read More: Google Earns Nearly $2B in Q4

Paging Martin Wolf – A Detailed Look at Savings in Japan

In short, if the world economy is to get through this crisis in reasonable shape, credit worthy surplus countries must expand domestic demand relative to potential output. How they achieve this outcome is up to them. But only in this way can the deficit countries realistically hope to avoid spending themselves . . . → Read More: Paging Martin Wolf – A Detailed Look at Savings in Japan

China’s Growth Continues to Accelerate – Eyes On Japan Rank

You may remember us pointing to China’s rebounding manufacturing sector last quarter. Well, the country’s overall economic growth continues to accelerate and drive a global economic rebound.

On Thursday China announced that its gross domestic product in the fourth quarter 2009 grew by 10.7% year-over-year — thats up from a revised growth rate of . . . → Read More: China’s Growth Continues to Accelerate – Eyes On Japan Rank

The Veneer Of Order

Over the past few days I have received insane Facebook status updates from a close friend.  The stream that followed has left me with profound respect and caused me to reflect on some lessons that can be learned.

14 January 2009 9:54 a.m. I am packing for Haiti… so many things bring to help. . . . → Read More: The Veneer Of Order

How Efficient is the Traditional Indian Family-Run Business?

A perennial debate rages in India, about the merits of the traditional family-run business versus the knowledge of the fancy-pants consultant or MBA. A remarkable paper by a group of economists sheds new light on this question. I wrote a column in Financial Express today titled Are Indian family businesses well run? where I . . . → Read More: How Efficient is the Traditional Indian Family-Run Business?

State by State, Year by Year, Employment by Sector by Blue-Red Political Alignment

This preliminary study started with a blog post I did several months ago entitled “New Jersey, the Sorry State”, a deep dive into Bureau of Labor Statistics data showing that my state is hardly generating employment outside the government sector.

The blame for this sorry state of affairs I heaped on NJ’s political culture, . . . → Read More: State by State, Year by Year, Employment by Sector by Blue-Red Political Alignment

American Disease, 2010

Ann Elk: Where? Oh, what is my theory? This is it. My theory that belongs to me is as follows. This is how it goes. The next thing I’m going to say is my theory. Ready?

TV Interviewer: Yes.

Ann Elk: … This theory goes as follows and begins now. All brontosauruses are thin . . . → Read More: American Disease, 2010