Felix Salmon: The unwilling risk-takers: “Comment of the day comes from Chris: The person most willing to take on risk is the one unaware he is doing so. He charges no risk premium… The resulting market equilibrium is that the guy who is unaware of the risk ends up loaded with it. Then the music [...]
Entries Tagged as 'economy'
Madoff’s World
March 4th, 2009
“An elevator opening onto the mysterious 17th floor of the Lipstick Building, in Manhattan, where a small staff helped to manage Bernard Madoff’s exclusive investment fund.” Mark Seal in Vanity Fair, Madoff’s World: “Shortly after Madoff’s arrest, Rabbi Moshe Scheiner advised his congregation at the Palm Beach Synagogue to look beyond money, beyond financial losses, [...]
Tags: bernard madoff · economy
Wall Street on the Tundra
March 4th, 2009
“Demonstrators in front of Iceland’s parliament building, in Reykjavík’s Austurvollur Square, on January 31.” Michael Lewis in Vanity Fair, Wall Street on the Tundra: ““Yes,” he says with a smile, “there’s been a lot of Range Rovers catching fire lately.” Then he explains. For the past few years, some large number of Icelanders engaged in [...]
Tags: credit crisis · economy · iceland
How the Crash Will Reshape America.
February 16th, 2009
Richard Florida in The Atlantic, How the Crash Will Reshape America: “Every phase or epoch of capitalism has its own distinct geography, or what economic geographers call the “spatial fix” for the era. The physical character of the economy—the way land is used, the location of homes and businesses, the physical infrastructure that ties everything [...]
Tags: creative class · economy · richard florida · urban · usa
The Real Price of Gold
January 6th, 2009
National Geographic, The Real Price of Gold: “Like many of his Inca ancestors, Juan Apaza is possessed by gold. Descending into an icy tunnel 17,000 feet up in the Peruvian Andes, the 44-year-old miner stuffs a wad of coca leaves into his mouth to brace himself for the inevitable hunger and fatigue. For 30 days [...]
“Inflation will pay!”
October 27th, 2008
Kristof Magnusson, “Inflation will pay!”: “How did it come to this? The proverbial buck has already been passed round the ministerial departments and political parties – to varying degrees of amusement or dismay among the Icelandic population. But if you look deeper into Icelandic culture and history for reasons behind the current misery, you will [...]
Tags: credit crisis · economy · iceland
Moral Hazard
September 27th, 2008
September 25, 2008: Protests in front of the New York Stock Exchange. CNNMoney, Wall Street Journal, Financial Times, Bloomberg, Financieele Dagblad, De Tijd, Handelsblatt. FT Alphaville, Marginal Revolution, Peston’s Picks, Crisis on Wall Street, Marketbeat.
Tags: credit crunch · economy · wall street
The Box takes off on global journey
September 9th, 2008
BBC, The Box takes off on global journey: “The Box is an ambitious and unique year-long project for BBC News to tell the story of international trade and globalisation by tracking a standard shipping container around the world. It is a project which plans to deliver content for television, radio and online audiences – telling [...]
Tags: bbc · economy · globalisation · shipping