The Moral Dimensions of Ditching a Mortgage: University of Arizona law professor Brent T. White has written a provocative new paper (pdf) that urges homeowners with "underwater" mortgages" to walk away by strategically defaulting on their mortgage debts. [more inside]
posted by jonp72 on Nov 30, 2009 - 164 comments

The recession has hit the theatre world (and the arts scene in general) very hard - but some argue that theatre practitioners aren't doing themselves any favours when seeking funding. The main question insufficiently addressed is "who is the funding for?" - hint: it's not about you. Approaching theatre as a product isn't working, not when MFA acting programs don't often allow its graduates to earn enough to earn back their debt. So now the question is: how can the economics of theatre be changed?
posted by divabat on Mar 29, 2009 - 60 comments

The cover of a major financial publication warns: If you're holding U.S. Treasuries, GET OUT NOW! [more inside]
posted by up in the old hotel on Jan 5, 2009 - 74 comments

The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

Economics in One Lesson, by Henry Hazlitt, is available online for all to peruse, and makes sobering reading for anyone who's ever fretted over the United States' $8.7tn national debt. Or if you prefer action to theory, you can always help your fellow citizens out by making a check payable to the Bureau of the Public Debt.
posted by hoverboards don't work on water on Jan 25, 2007 - 39 comments

U2 Can B A Rock Star Prez. The president of the World Bank is traditionally an American. But in a recent editorial the L.A. Times nominated third-world debt relief activitist and Nobel Peace Prize nominee and--oh yeah--U2 frontman for the soon-to-be-vacant position. With economic tutoring from "probably the most important economist in the world", the singer/activist (and self-confessed egomaniac) has spent the last 5 years lobbying the World Bank and IMF to help African nations break the decades' old cycle of debt by combining debt relief with improved trade and AIDS assistance. After a stint as celebrity spokesmodel for Jubilee2000, then founding a similar DATA Agenda funded by Bill Gates, he's developed cred as "a serious player on Third World debt". "It's about the right to begin again," Bono says. "The right to be free of your past..." President Bono: a chance to reform the World Bank from the inside, or celebrity poser? Readers' response... [BugMeNot for the reg-only sites]
posted by nakedcodemonkey on Mar 1, 2005 - 32 comments

An interesting study by The Century Foundation. I found it while perusing the NY Times op-eds...specifically, Bob Herbert. It seems that "Household debt and personal bankruptcies are reaching record highs despite low interest rates and rising real estate values."
posted by BlueTrain on Aug 9, 2004 - 59 comments

Currently, consumer personal debt is at an all time high, and at the same time we're being inundated with ads asking us to "live richly" and pay for all those "priceless" moments with credit. Credit card companies have maintained a steady stream of advertising that focuses on living in the now, and worrying about the consequences later. Without discounting personal responsibility, should credit card companies be left to advertise their message unfettered, or does anyone think they are too good and perhaps somewhat responsible for the high consumer debt levels?
posted by mathowie on Jun 20, 2001 - 51 comments