The End of Empire?
"You can't sustain an empire from a debtor's weakening position--sooner or later the creditors pull the plug. That humiliating lesson was learned by Great Britain early in the last century, and the United States faces a similar reckoning ahead."
posted by homunculus
on Sep 9, 2002 -
Things you won't hear
at the Wacko dog and pony show today on the economy. Would some real discussion of these issues have been so bad? Isn't public discussion and consensus how our form of government is supposed to work? Isn't the keynote speaker a prime example of what is wrong in corporate America today?
posted by nofundy
on Aug 13, 2002 -
US Airways Bankrupt.
It had to happen to one of the big airlines eventually, what with 9/11 and the hesitancy to fly following. But on top of everything else financially as of late... it just deepens that already sick feeling. Who's next?
posted by dopamine
on Aug 11, 2002 -
J.K. Galbraith shocked at scale of corporate failures.
"I can only say I hadn't expected to see this problem on anything like the magnitude of the last few months – the separation of ownership from management, the monopolisation of control by irresponsible personal money-makers." Myself and chrispy
came to the same conclusion on the drive home from the resolutely un- (rather than anti-) corporate Glastonbury Festival
today. Profit is valued and rewarded by the vast majority of corporations above all else. As a consquence, people with the same values dominate executive positions, to the exclusion of those with more 'humanitarian' or longer-term outlooks. Where is the balance? Should we make hippie non-exec directors compulsory? Or should I just go back to bed and let the drugs wear off???
posted by barnsoir
on Jul 1, 2002 -
High Finance Run Amok
[latimes free reg req] is a Kevin Phillips editorial on the "financialization" of the US economy. "As the financial sector, in short, became too important to fail, the Fed and the Treasury abandoned market economics to embrace socialization of credit risk. No other sector of the U.S. economy, save possibly defense, received such governmental assistance."
posted by electro
on Jun 24, 2002 -
The Rise of the Creative Class.
The author argues that cities which meet the diverse needs of young people -- through vibrant nightlife, outdoors activities, and gay neighborhoods -- are also the ones best situated in the current economy. He has his own website
, where you can look up your own city. Pretty interesting stuff.
posted by MikeB
on May 14, 2002 -
The Saudis are about to deliver an ultimatum to Bush In a bleak assessment, he [Prince Abdullah] said there was talk within the Saudi royal family and in Arab capitals of using the "oil weapon" against the United States, and demanding that the United States leave strategic military bases in the region. Such measures, he said, would be a "strategic debacle for the United States." How should Bush respond?
posted by Rastafari
on Apr 25, 2002 -
isn't this exactly opposite of what we're being told? I'm always hearing the wealthy are benefitting somehow from GWB's new tax plan. I'm certainly no-where near the top 5%, and now I don't want to be.
posted by the_0ne
on Apr 9, 2002 -
Emancipator or Oppressor?
E.J. Dionne talks about how the global economy may not be as evil or as good as its respective supporters and detractors make it out to be. It seems like a pretty balanced look at a subject that gets horribly slanted coverage.
posted by owillis
on Jan 2, 2002 -
Argentina Declares State of Siege.
After a prolonged national strike (the 8th in two years), protests due to social tensions, violence, and looting have broken out, and in response a state of siege allows for "authorities the right to suspend constitutional guarantees such as the right to assemble and travel freely, while giving police greater powers to make arrests." What effect will this have on South American stability? On worldwide financial markets?
posted by mathowie
on Dec 20, 2001 -
The Nash equilibrium
So at the present time I seem to be thinking rationally again in the style that is characteristic of scientists. However this is not entirely a matter of joy as if someone returned from physical disability to good physical health. One aspect of this is that rationality of thought imposes a limit on a person's concept of his relation to the cosmos....from John F. Nash Jr.'s autobiography for the 1994 Nobel Prize for Economics.
posted by riley370
on Dec 12, 2001 -
Talk about not getting it...
"Polaroid Corp., which slashed jobs and retiree benefits before filing for bankruptcy protection in October, wants to reward top executives with up to $19 million in bonuses and incentives as it dismantles the instant camera and film maker to pay off creditors."
Clueless or evil? You make the call...
posted by kasnj
on Dec 6, 2001 -
Looking the World in the Eye
Huntington, a Harvard prof., lays out his vision for the future of the clash of civilizations in an article in The Atlantic Monthly. The main points are-
• The fact that the world is modernizing does not mean that it is Westernizing. The impact of urbanization and mass communications, coupled with poverty and ethnic divisions, will not lead to peoples' everywhere thinking as we do.
• Asia, despite its ups and downs, is expanding militarily and economically. Islam is exploding demographically. The West may be declining in relative influence.
• Culture-consciousness is getting stronger, not weaker, and states or peoples may band together because of cul tural similarities rather than because of ideological ones, as in the past.
• The Western belief that parliamentary democracy and free markets are suitable for everyone will bring the West into conflict with civilizations—notably, Islam and the Chinese— that think differently.
• In a multi-polar world based loosely on civilizations rather than on ideologies, Americans must reaffirm their Western identity.
posted by SandeepKrishnamurthy
on Nov 28, 2001 -
Last of the dot-com playboys?
Henry Blodget, who talked up the tech boom and failed to predict the bust, has taken up Merrill Lynch
's general redundancy offer and walked away with a cool $2 million. (This after ML settled with a client who had his portfolio wiped out by following Blodget's recommendations.) Somehow, though, I suspect that many casualties of the shrinking Nasdaq who followed his recommendations might wish a different "lifestyle decision" for him... (NYT, blah etc blah)
posted by holgate
on Nov 15, 2001 -
A sign of Global recession?
For the first time I can remember, it's cheaper to buy a console in the UK than it is the States. Over here, we're used to seeing straight dollar to pound conversions ($299 = £299), so this is a first.
Do you think it's sign of recession or just Sony developing a conscience?
posted by jiroczech
on Sep 28, 2001 -
The Jordan Effect.
The more important question regarding MJ's return is if he will be good for the economy. Remember back in '98 when Fortune reported that the overall value of the Jordan Effect
was around $10 billion and counting. Could he be the answer for our sagging economy? Not likely. But then again remember that What's Good for Michael Jordan is Good for America
. (At least, that was Salon's take back in the day.) So whether we're Wizards' fans or not maybe rooting for Jordan should be our American duty.
posted by jacknose
on Sep 26, 2001 -
An idea to support the U.S economy.
The suggestion is that everyone American should buy 10 or 20 shares in their favourite stock on Monday, and in doing so support their country in the time of crisis. It sounds like a good idea to me. (The story is at the bottom of the page)
posted by Atom Heart Mother
on Sep 14, 2001 -
This is truly awesome.
Awesome. Awesome. Awesome. Awesome. Awesome.
Just the best use of flash, collaborative model/data building and use of interactive interface to explain a complex issue... i.e. the interconnections of money, influence and power in boardrooms of the global economy.
Conceived designed and built by Josh ON and the FutureFarmers
I think it's going to move to a more permanent and snappier URL once it's fully ready for prime-time... I hope Josh and the gang don't mind me posting it here... but it's just too good not too... It genuinely deserves a lot of praise and attention, IMHO.
posted by blackbeltjones
on Jul 19, 2001 -
Was the bust really a Bust
(See below)? Douglas Rushkoff doesn't think so. But then, he's a pretty optimistic guy, if you ask me. (Warning, his article links to MetaFilter... Does that count as a self-link?)
posted by LAM
on Jul 5, 2001 -
Get out of our county! Get off our welfare rolls! Here, take this money and get out.
Tulare County, California, pays unemployed to move elsewhere, anywhere, and people love it. One woman says the grass is greener in Arkansas, of all places.
Sounds like a win-win, eh? (NYT link)
posted by msacheson
on Jun 18, 2001 -
they underminded the US economy by halting opium production. ``It's known in select circles.. that opium is more influential than oil in terms of its economic role in America in particular and the West as a whole,''
posted by stbalbach
on Jun 16, 2001 -
the adventive report
"While many deadpool websites continue to monitor the failures of the high-profile flops, the aim of the Adventive Report is to highlight the companies that are persisting in the face of an Internet slump. Through testimonials, examples, and editorials, our newsletter showcases a myriad of achievements in an evolving industry."
posted by riley370
on May 26, 2001 -
Starbucks lays claim to 20% of all American cafes.
Does anybody in this lately conservatized land of ours care on who's backs our wealth rests upon? Virtually every vegetable, piece of fruit, bottled soda, cup of coffee we ingest is produced at rock bottom prices for the corporations that exploit our neighbors to the south. Our way of life in the States is directly tied to how miserable the living/working conditions of laborers in "developing" countries are. Developing countries--what a misnomer. The only thing developing are profits for select Americans and/or fear that the threat of recession will negate the purchase of that little luxury car I've had my eye on.
posted by crasspastor
on Mar 28, 2001 -