John Maynard Keynes
The myth of free trade is coming apart.
Happy 200th birthday, Karl.
Prior to cofounding Origin Investments, I was a trader at the Chicago Mercantile Exchange. My greatest strength was being able to set aside my emotions. I never carried large positions overnight, and I never had an opinion about where the market was going, until one day I did.
For the first time in history, the most skilled, highest earners in society are working the longest hours. But why is it that those who can afford the most leisure are now taking the least?
This happened because it's time for it to happen; this happened because a large group of House Democrats don't think the Iran nuclear deal is the end of what we can accomplish with diplomacy in the Middle East.
Trump, Sanders and the other outsiders will probably not win their party's presidential nominations. But the rage they are articulating is not going away. In all likelihood these Occupy issues will be co-opted by more establishment and semi-establishment figures like Rubio, Bush, Clinton, and Biden.
For those turned off by my considering anything other than the issues, I can't help you. And for those who were hoping I'd bash either of these Democrats, well, I can't help you either. As of now, one of these two will be the Democratic nominee (could Joe Biden shake up the race? I doubt it, but one never knows). I would be happy and proud to work for and vote for either Hillary or Bernie in the general election.
Robots have indeed eliminated a great deal of factory work and are rapidly moving on to product design, medical diagnostics, research, teaching, accounting, translating, copy editing, and a great deal more. Once-secure professions are no longer safe. From that, many economists conclude that we may just have to adjust to a high plateau of unemployment. That assumption is malarkey.
The federal government, in fact, did increase the minimum wage multiple times while he was working his way up the ladder, and secondly, none of those increases seems to have stopped him from getting the "rotten jobs" that kept him moving up the ladder to eventual success.
Much to the West's chagrin, Iran continues to find a market for its crude, and while sanctions on the oil and banking sectors may have a temporarily crippling effect, Iran's bounty of natural gas may mean its people laugh all the way to the bank. The country's gas reserves are second only to Russia.
The governance arrangements of international agricultural commodity markets are ripe for an overhaul to reflect not only the changes in markets, consumption patterns and technologies of the past 40 years, but also to actively engage in the challenges of the future.
We have seen the decline of the record industry splinter off and find a begrudging acceptance of the same technology, which caused its monolithic empire to crumble. This has empowered the listener and given us unimaginable economic choices within the previous music industry paradigm.
The field of positive psychology teaches us that having control over your time is one of the biggest keys to being happy. People adjust to material stuff quickly. But losing control of your time makes almost everyone miserable.
There should be a serious debate on how to reinvent the Arab state, establishing a developmental regime that fosters a reorientation of the national economy towards industrial productivity, agricultural dynamism, and inclusive growth.
Although much of what Yale economist Robert Shiller writes is about the importance of financial markets, he won the Nobel Prize in Economic Sciences for studying how financial markets misbehave. He is a pioneer in the new field of Behavioral Economics.
Meow, tell us how you really feel, Ken Rogoff! But seriously, Rogoff is once again pedaling feverishly away from the austerity