…valued at the purchase price. This bypasses capital gains. Since Gates’ Microsoft stock was originally purchased for approximately $50,000, and is now worth billions, the value of each dollar’s worth…

…or a factory. It has no effect on their net worth. Any net-worth increase for the investor arrives in future periods, from 1. revenues/profits/benefits generated and attributed to the “capital…

I’m in Kansas City, where the Royals have started the season as one would expect of the current iteration of the team. Fortunately, I’m not here for the baseball, but…

From Steve Randy Waldman’s Interfluidity current post: Scott Sumner responds. Related — elsewhere: Tyler Cowen — Why are the high growth countries so often the high inflation countries? Kevin Erdmann…

Stiglitz on globalization: the MNE’s bought the law by Linda Beale Trans Pacific Partnership bad for the middle class, but how bad? by Kenneth Thomas Latest World Trade Organization lunacy…

Scotusblog Round up quote: Commentary on Schuette comes from Richard Kahlenberg, who in an op-ed for The Wall Street Journal argues that “[a] ruling in Schuette that promotes race-neutral strategies…

Wikileaks reveals one chapter of 29 chapters, 5 on trade. Via wikipedia Fast_track (trade) means… Crooks and Liars points to key issues: The longest section of the Chapter – ’Enforcement’…

Yep. As I said, a monkey could beat Rubio in the general election. So maybe the Republicans should urge a monkey to run as a third-party candidate. Someone who works…

The people familiar with the investigation said that senior officials had been informed weeks earlier that a computer belonging to former congressman Anthony Weiner, D-New York, contained emails potentially pertinent…

From Adam Levitin, a summary of the Senate economic rescue package. Recommended. Why can’t the news media provide information like this? Don’t answer that. Via Cowen, a discussion of bankruptcy….