Economy

Effect Measure

Category archives for Economy

The Icelandic volcanic eruption is still causing havoc in Europe with ripple effects elsewhere as people and planes are grounded for travel in or out of much of northern Europe. Pressure from the traveling public, air carriers and business is mounting to let passenger and cargo planes fly again. What’s changed? Not much. There’s about…

Subways, phones and the price of things

When my mother died last year at the age of 103 it ended a life that went from the Wright Brothers first flight through to the internet. That’s a lot of change to accommodate, but she did it pretty well, although there were things she could not get used to. One of the things that…

Summers makes sausage

While I like Obama I’m none too fond of some of the people he has around him, especially in the economic area. Larry Summers and his pals (Rubin, Geithner, etc.) helped bring us the current crisis, although it took GWB and the Republican Congress to turn a bad situation into a catastrophe. We threw the…

Bailouts, my car and pandemics

I’m sitting here reading Tuesday’s Wall Street Journal — what? Revere subscribes to the WSJ? No, but for reasons known only to Darwin, every couple of days a copy is delivered to my door, each with someone else’s address on it, and never the same someone else two times in a row — so, anyway,…

Given the size of the kinds of Federal bail-outs being discussed these days, Harvard University’s endowment, almost $37 billion, by far the largest of any university in the world, sounds like chump change. But it is a staggeringly large endowment for a university and the interest alone accounted for 35% of the Harvard’s annual operating…

Time to change your name

Not quite 29 years ago the Chrysler Corporation asked the US Government for $1.5 billion in loan guarantees. $1.5 billion sounds like chump change now, but it was a pretty big deal in 1979:

Dems dump Dirty Air Dingell

John Dingell (D-MI), longtime Chair of the House Energy and Commerce Committee, has done some good things in his time, but overall he’s been a net minus. When Henry Waxman (D-CA) toppled him from his perch today my feeling was an uncharitable, Good Riddance. The vote in the Democratic Party caucus was close but not…

The Meeting

World leaders confront global crisis Economic summit in Washington is likely only a first step to new rules to prevent financial meltdown and market mayhem. In 1955 the late economist John Kenneth Galbraith wrote a classic book about the stock market crash of 1929 (The Great Crash 1929). It hasn’t gone out of print since,…

One door closes, another one opens

The US election is over. Now comes the battle over what it means. The right wing of the Democratic Party aside, it seems pretty clear this was one of the periodic “realignment” elections that are of historic significance. Obama’s base, overwhelmingly the progressive heart of the Democratic Party, is a powerful coalition of the younger…

Climate change and the financial meltdown

I am not in the habit of reading classic horror stories but this weekend I picked up John Kenneth Galbraith’s 1955 book, The Great Crash: 1929. Unfortunately it is non-fiction. And even more unfortunately it is selling well in the university bookstore. Galbraith is gone but his book lives on. In a new Foreword written…