Capitalism After The Crisis

An excerpt:

"We thus stand at a crossroads for American capitalism. One path would channel popular rage into political support for some genuinely pro-market reforms, even if they do not serve the interests of large financial firms. By appealing to the best of the populist tradition, we can introduce limits to the power of the financial industry — or any business, for that matter — and restore those fundamental principles that give an ethical dimension to capitalism: freedom, meritocracy, a direct link between reward and effort, and a sense of responsibility that ensures that those who reap the gains also bear the losses."

A nice historical look at the history of capitalism in America.

Capitalism After The Crisis

How Did Economists Get It So Wrong?

A long and interesting piece by Paul Krugman about the oscillations between classicism and neoclassicism on the one hand, and Keynsianism on the other. Interesting stuff as we try to figure out the best way to handle fluctuations in a capitalist economy.....Enjoy!

How Did Economists Get It So Wrong?

GDP: RIP

A great article in the NYT about why GDP is terrible as a measure of the well being of a society. Perhaps we should look to Bhutan -they adopted Gross National Happiness a while ago! Enjoy, Beckmania.

GDP: RIP

The Jalopy Economy

An interesting investor letter from Jeffrey Gundlach at TCW Group that discusses the steady rise in credit in the US economy, starting in the Reagan era. It's more data that fortifies the theme that many troubles, both at micro and micro levels, result from the desire to 'have it all without paying for it'. The reality check is painful, isn't it? Enjoy! Beckmania:

Letter From Jeffrey Gundlach

The Capitalist Manifesto: Greed is Good

Another great article from Fareed Zakaria (I feel like I post all of his articles).....a big picture look at the world today......Enjoy! Beckmania

The Capitalist Manifesto: Greed is Good

Wall Street's Toxic Message

Awesome big picture article by Joseph Stiglitz about the impact that the current economic crisis is having on the reputation of American style capitalism, and the subsequent impact THAT is having throughout the world on the types of governing systems that are seen as preferable. Enjoy! Beckmania.

Wall Street's Toxic Message

The Cost Conundrum

Amazing article on the issue of health care costs in the US (thanks Misha Palecek for sending it to me). Two things jump out at me - one is that you simply cannot have health care decision makers associate revenue and profit with the choices they make. We all know what road human nature will take us down. Generally speaking, rules are created and needed precisely to prevent what would be the human nature path in individual choices. The second thing is what irks me the MOST about government policy making - we absolutely KNOW what the answer is in some cases, or what BETTER ideas are, and yet we can't get them implemented. Health care screams of this. The Mayo clinic works fabulously, yet it's losing the fight. There needs to be an overall owner of this mess, who isn't thinking from the perspective of insurers or doctors.....Really interesting. Enjoy! Beckmania

The Cost Conundrum