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Entries tagged "New Deal"

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William Harrison defends the big banks

The op-ed in the NYT is coherent; it's just not compelling. Harrison doesn't lay out substantive arguments, offer evidence or wrestle with the most serious charges against the big banks; he dismisses them as if they were some simplistic whining of a bunch of cranks. Continue reading

Posted on August 23, 2012 1:12 PM




Transactions: May 7, 2012

Are needs of shareholders aligned with whatever definition of the corporate good you conjure up? Continue reading

Posted on May 4, 2012 1:08 PM




Transactions: May 7, 2012

What are the politics of corporate governance? This has always baffled me. The notion of shareholders as ultimate owners of corporations only fully emerges in that decade of beginnings, the '70s. On one hand, it borrows from one of the... Continue reading

Posted on May 4, 2012 12:00 PM




Acemoglu and Johnson on a captured Fed

The pair erects a kind of straw-man argument suggesting that somehow the Fed has wandered out of an Eden when it was technocratically objective and independent and into one where it has been captured and bagged by those plutocrats on Wall Street. Continue reading

Posted on April 18, 2012 3:18 PM




Bloomberg Businessweek on Obama, economic steward

Ah, but it's the silly season. Presidents generally can't win when the political pundits go looking for an economic angle. If the economy is good, it's the cycle. If it's bad, it's their fault. Continue reading

Posted on March 26, 2012 12:13 PM




Transactions: March 12, 2012

Excessive rulemaking undermines regulation, as a Tower of Babel drowns out sense. Continue reading

Posted on March 9, 2012 12:00 PM




Transactions: March 12, 2012

A few weeks ago, The Economist, that idiosyncratically British "newspaper" with vague ties to the free-trade liberalism of its 19th-century editor, Walter "Lombard Street" Bagehot, confronted America with a shocking charge: We're overregulated. This sent GOP hearts a-beating, at least... Continue reading

Posted on March 9, 2012 11:20 AM




Stephen Bainbridge's 'Corporate Governance after the Financial Crisis'

In his new book, UCLA law professor and popular blogger Stephen Bainbridge provides a longer historical perspective on one aspect of the choking proliferation of rulemaking. Continue reading

Posted on February 21, 2012 1:24 PM




Stephen Bainbridge's 'Corporate Governance after the Financial Crisis'

In his new book, UCLA law professor and popular blogger Stephen Bainbridge provides a longer historical perspective on one aspect of the choking proliferation of rulemaking. Continue reading

Posted on February 21, 2012 1:13 PM




Greenspan offers his view from the mountain

The Fed chief was the very embodiment of the 'government leader' who bestowed favors for political support. Does it make a difference, does it justify things, that he may well have done much of this (not all) for ideological reasons? Can he escape responsibility by taking the long view? Continue reading

Posted on January 26, 2012 1:30 PM




Starkman on the decline of business journalism

Business and financial journalism, according to Dean Starkman in The Audit, has been captured by malign forces mostly on Wall Street and, like those dastardly political reporters, seduced by the siren song of insider access, free food and PR careers. Continue reading

Posted on January 13, 2012 11:49 AM




Stiglitz explains the Great Depression

By now seemingly everyone with access to a blog has contributed to the theory Joseph Stiglitz offers up in, of all places, the new Vanity Fair, about the causes not just of the Great Depression, but analogously, what he calls our own 'Long Slump.' Continue reading

Posted on December 20, 2011 1:32 PM




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