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There are two broad views on our newly resurgent global bubbles--the increase in asset prices in emerging markets, fuelled by capital inflows, with all the associated bells and whistles (including dollar depreciation). These run-ups in stock market values and real estate prices are either benign or the beginnings of a major new malignancy. The benign view, implicit in Secretary Geithner’s position at the G20 meeting last weekend, is most clearly articulated by Frederic (Ric) Mishkin, former member of the Fed’s Board of Governors and author of "The Next Great Globalization: How Disadvantaged N

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Jacob S. Hacker is the Stanley B. Resor Professor of Political Science at Yale University, author of The Great Risk Shift: The New Economic Insecurity and the Decline of the American Dream, and an occasional contributor to The Treatment. Diane Archer is the director of the Health Care Project at the Institute for America's Future and the founder and past president of the Medicare Rights Center. How short memories are in Washington.

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Bernard Avishai, the author of two excellent, but sometimes misunderstood, books on Israel and on Zionism,  is a professor of business at the Hebrew University in Jerusalem and on top of the transformation of the older industrial into a new cyber-industrial economy. Avishai has written a very important article on the electric car for Inc.

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During the Bush years, a fellow at the Kennedy School of Government was writing a book called Savin’ it! on abstinence education in the public schools. As part of his research, he contacted then-Attorney General John Ashcroft with a request for personal testimony.

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In the Tank

The Clinton Tapes: Wrestling History with the President By Taylor Branch (Simon & Schuster, 707 pp., $35) In her infamous first sentence of The Journalist and the Murderer, Janet Malcolm swings for the fences and proclaims that "every journalist who is not too stupid or too full of himself to notice what is going on knows that what he does is morally indefensible." She means that journalists use their human subjects and then dispose of them; that we con them in person by "preying on people's vanity, ignorance, or loneliness"--it occurs to me to note that however bleak print's future seems

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The Race Man

Up from History: The Life of Booker T. Washington By Robert J. Norrell (Harvard University Press, 508 pp., $35)   I. Once the most famous and influential African American in the United States (and probably the world), Booker T. Washington has earned at best mixed reviews in the decades since his death in 1915. Black intellectuals and political activists, from W. E. B.

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Trigger Unhappy

Jacob S. Hacker is the Stanley B. Resor Professor of Political Science at Yale University. An expert on the politics of U.S. health and social policy, he is author, coauthor, or editor of numerous books and articles, both scholarly and popular, including The Great Risk Shift: The New Economic Insecurity and the Decline of the American Dream (2006; paperback, January 2008) and Health At Risk: America’s Ailing Health System and How to Heal It (2008). As closed-door discussions continue in the Senate, the idea of triggering the public health insurance option is once again on the table.

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This is the second installment of our new feature: Curbside Consult. For the uninitiated, curbside consults are a venerable medical tradition, whereby a doctor seeks informal advice from an experienced colleague in treating a patient with a complex condition. In covering or understanding complex health and social policies, we need sometimes help too. Today’s interview is with Katherine Swartz, PhD. She is Professor of Health Economics and Policy at the Harvard School of Public Health.

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The Restless Medium

Why Photography Matters as Art as Never Before By Michael Fried (Yale University Press, 409 pp., $55) I. Michael Fried,who shot to intellectual stardom in 1967 with an essay in Artforum called "Art and Objecthood," is an intimidating writer. He looks very closely. He has passionate feelings about what he sees. And he shapes his impressions into a theory that fits snugly with all the other theories he has ever had. Whatever his chosen subject--Diderot, Courbet, Manet, Kenneth Noland--he comes up with an interpretation that is as smoothly and tightly constructed as a stainless-steel box.

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