Economy

Geithner and Summers, From the Baseline
October 13, 2009

Just wanted to engage in a little crass self-promotion for those who come directly to The Stash, or who took the Internet off for Columbus Day: I have a piece in our current issue about the tennis-playing habits of the Obama economic team--Larry Summers, Tim Geithner, and Gene Sperling, et al--which, I half-seriously suggest, can be understood as a metaphor for their West Wing interactions.

Worth Reading
October 12, 2009

Nobel reactions from around the web. What's more important for China's future: social or financial reforms? Daily Beast: Raleigh-Durham is America's smartest city. Is the dollar doomed? The ethnic split in the political donations of NFL players. Can network maps prevent the next financial crisis?

The Nobel in Economics--Another Political Message?
October 12, 2009

It seems more or less beyond dispute that the Nobel committee was trying to send a political message by giving Barack Obama the Peace Prize. Now it looks like the Nobel brass has decided to send a similar, if slightly more subtle, message in awarding the economics prize to Elinor Ostrom of Indiana and Oliver Williamson of Berkeley.

Are Government Workers Overpaid?
October 12, 2009

Henry Blodget passes along this startling statistic: The average federal worker makes $75,419 a year, while the average in the private sector is $39,751. Why is that, exactly?  Is it because Federal workers are 80% better than private-sector workers? And remind us again why, in the interest of cutting the deficit, the government shouldn't just slash 20% of its budget across the board? Why indeed. The only problem is that this figure is wildly inaccurate.

Moneyball
October 12, 2009

Geithner and Summers go to tennis camp.

Gourmet and the Bottom of the Magazine Market
October 11, 2009

Dan Gross is onto something with his most recent Slate column: [T]he closing of Gourmet (along with Cookie, Elegant Bride, and Modern Bride) could also be a positive sign ...  [I]t reeks of capitulation. In investing terms, capitulation is that moment when, after a prolonged period of decline, nobody seems to want to be in a particular market—Internet stocks, real estate, CDOs. During down cycles, most players cut their losses or adjust to the new reality.

White Men Play Hard to Get
October 11, 2009

At least that's what the online dating scene suggests.

Obama on Consumer Financial Regs: Stay Strong
October 10, 2009

I was a little disconcerted a few weeks ago when I read that Barney Frank's House Financial Services Committee was weakening the proposed consumer financial regulator. As the Journal reported: Mr.

Retirement and the Recession, Cont'd.
October 10, 2009

Zubin did a fascinating item last week about how, contrary to the conventional wisdom, the recession might be causing to people to retire sooner rather than later (in the aggregate). He pointed to the conclusion of this paper by economists Courtney Coile and Phillip Levine: When the unemployment rate rises, more workers between ages 62 and 69 retire, particularly those with less education. ...

Worth Reading
October 09, 2009

Alan Blinder: 25% of jobs are offshore-able. So maybe it's not all bad that job openings are down 50% since 2007 peak. MIT or U. of Chicago: Which developed the better economic dream-team. How New Democrats are helping ease proposed derivatives rules. Why there's nothing morally wrong with walking away from a mortgage. Do mustached men earn more than their clean-shaven counterparts?

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