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Over the weekend, the Financial Times ran as usual one of its signature features, "Lunch with the FT." The tone is established immediately. Fukuyama is late, making the imperturbable (and apparently punctual) Wolf "anxious." Continue reading
And how is our world this Memorial Day? Hey, we're still here. At least most of us. Wasn't that the question we all wondered just a few years back? What were we thinking back then, on the edge of summer 2007? Continue reading
Megan McArdle at The Atlantic tackles pharmaceutical research and asks why developing new drugs are so difficult. Her answer is the obvious one: because it's really difficult. Continue reading
'Beyond Mechanical Markets' takes aim at a dominant macroeconomic impulse that, in popular terms encompasses the rational-expectations hypothesis. Continue reading
It's coming. Men in suits. Men with phones. Men in meetings. Timpani please. HBO's "Too Big to Fail," which I would watch if I had HBO, debuts the day this fine publication hits the streets. I have read every page... Continue reading
Are the ballooning valuations for a handful of tech startups, mostly in social media, a reprise of the dot-com bust of 2001, or for that matter, the mortgage bubble and meltdown? Continue reading
The biggest problem here is that a free and perfect market is as much as myth as the state of nature: Markets are created, regulated and manned by homo sapiens. Continue reading
TARP's very success means that it may be many years before it's a viable policy option again. That's the way it is with these near-apocalypses. Every one we manage to avoid takes us closer to the next one. Continue reading
The advocates of resolution authority argue that it will contain TBTF, while its critics believe it will never work, that the complexities of size and global scope will overwhelm the FDIC and that resolution authority may make things worse in a crisis, not better. Continue reading
Paul Krugman's Times column involves the classic straw man lead, followed by a series of simplistic statements and a quivering finger pointed at the bad guys. We could be on cable television. Continue reading
Thanks to fine work by the audit committee of Berkshire Hathaway Inc., we have penetrated to the nub of the David Sokol contretemps with Warren Buffett. Sokol, said the committee (actually, to be candid, law firm Munger Tolles, which did... Continue reading
Daniel Bell, who died in January at 82, was the author of a number of important books, all with titles that have lasted longer than the arguments that shaped them, and he was always a lively, even combative, raconteur. Continue reading
The financial system, which so many decry as far too large, far too leveraged and overpaid, and far too powerful politically, is really the creation of an institutional investing mindset. Continue reading
