The Economy
Toxic Sludge
In my last post I attempted to make sense of the origins of the current economic crisis in the subprime mortgage debacle. In this post I look at the solutions being offered and ask: Why do we need a bailout?
As explained in the last post (make sure to view the cartoon slideshow on the subprime […]
Subprime
This post is the first of my attempts to make sense for myself of the current financial crisis. In this post I ask the question: How did we get into this mess?
The simplest explanation is that encouraging people to take mortgages was the easiest way to create investment opportunities for surplus capital:
The result was that […]
Recession
I forget where I read that looking at how often the word “recession” appears in the newspaper is as good a method as any of determining whether we are actually in a recession or not, it might have been the Left Business Observer, but I after seeing the word pop up a few times recently, […]
Geothermal
Speaking of Iceland … one of the coolest things about the country is how well they’ve used geothermal energy:
In Iceland, there are five major geothermal power plants which produce about 26% (2006) of the country’s electricity. In addition, geothermal heating meets the heating and hot water requirements for around 87% of the nation’s housing.
I’ve always […]
Big Table
For those who haven’t been following, Obama’s been doing his best to alienate the progressive left. That’s resulted in him butting heads with two of my favorite people: John Edwards and Paul Krugman. And while it may result in more corporate fundraising for Obama, he’s come out looking much worse for the wear.
Obama has framed […]
Usury
If thou lend money to any of My people, even to the poor with thee, thou shalt not be to him as a creditor; neither shall ye lay upon him interest. (Exodus, 22:25)
The key texts of Judaism, Christianity, and Islam are all very clear about the sins of lending money for interest - and yet […]
$ v. €
Paul Krugman points us to the latest economic indicators:
Stagnation
From Krugman’s blog:
One of the big but little-noticed economic stories of the past few years is the sharp slowdown in US productivity growth. Dean Baker and John Schmitt are on the case; their recent article is definitely worth reading.
Baker and Schmidt argue that the era in which US productivity was surging ahead of productivity in […]
One America
The text of John Edward’s Hanover speech reprinted in full (via Crooked Timber):
Remarks as Prepared for Delivery: “To Build One America, End the Game”
Hanover, New Hampshire
August 23, 2007
This election is unlike any we have faced before. The stakes are higher. And the challenges we face as a nation are greater than at any time in […]
Prices
Almost every night the news features at least one story about rising commodity prices. A few extra cents for spinach or milk might not seem earth shattering, but I know how hard my students scrimp and save to get buy. At the school lunch buffet I load up my tray with a bit of everything […]
An anthropologist and documentary filmmaker, 
