Entries Tagged 'Economics and Investing' ↓
December 19th, 2014 — Economics and Investing
Are you wondering whether to read Thomas Piketty’s 700-page book or give it to a loved one this holiday season?
I was too.
So I picked it up in Barnes & Noble while having coffee with my partner. As is my habit with new books, I checked the index first.
The book flunked my first test. Its index was only 15 pages, a mere two percent of the total book pages.
Given that Capital in the Twenty-First Century looks like a groundbreaking economics text, one that’s already creating discussion, the index should have been at at least 50 pages (or seven percent of the book).
Then I looked at the 35-page Introduction. The first paragraph left me cold. I stopped reading right then and there. As intensely as I care about the distribution of wealth and income inequality, I wasn’t interested in proving Karl Marx wrong or Simon Kuznets right. Continue reading →
September 19th, 2014 — Banks
The word “speculator” has often been conflated with “entrepreneur,” and both of them tarred with the brush of “con men”.
However, there is a good connotation for entrepreneurs. They are viewed as risk-takes who create new products and businesses. Speculators are seen as risk-takers solely out to make money. But is speculation really a bad thing?
How do economists view speculators? Here’s how one economist sees them. Continue reading →
July 30th, 2014 — Economics and Investing, Jobs
When I was in junior high school, our usual assembly program was a short film shown in a darkened auditorium.
One celluloid image I recall vividly was from a driver safety clip of an accident where the one of the pipes in a truck driver’s load had gone through his body.
A much less horrifying picture is of a Frankenstein movie where one of the peasants threw a giant boulder at the terrified fleeing monster and the huge “rock” bounced high up in the air over his head.
Then, one day there was a noticeable buzz of excitement in the school auditorium. A real live person had showed up to talk to us – a representative from the General Electric Company (GE). He was a young guy wearing a suit and tie and beaming like a little kid with a new toy on the brightly-lit spotlighted stage. Continue reading →