Relevant and even prescient commentary on news, politics and the economy.

"Business Leaders of Today are Not Capitalists"

Via Mark Thoma comes this thinking on the nature of our economic system and by John Kay at the Financial Times in Business Leaders of Today are Not Capitalists. John Kay says that the term “capitalism” is misleading in modern economies: ..So the business leaders of today are not capitalists in the sense in which […]

Closing Wall Street’s casino

Via Reuters comes David Cay Johnston’s musing on Closing Wall Street’s casino: A superb example of a sound rule in law and economics that needs reviving, because it can halt the rampant speculation in derivatives, is the ancient legal principle that gambling debts are not enforceable through court action. Not so long ago — before […]

crony capitalism and casino capitalism–bad flavors for right or left, per Kristof and Stiglitz

by Linda Beale crony capitalism and casino capitalism–bad flavors for right or left, per Kristof and Stiglitz The Occupy Wall Street focus on “we are the 99 percent” juxtaposed with the CBO’s recent report on the growing inequality in America (see here) come at a time when the American right is pushing hard for policies, […]