Tag economics

A Closer Look at the Wells Fargo Scandal

Stephen Davis— If you need an example of how the financial system has failed the test of public trust, look no further than Wells Fargo. But it is vital to go deeper than the headline story about fraudulent cross-selling into systemic miscarriages of governance and shareholder oversight. The scandal appears

Continue reading…

The Price of the Carthaginian Policy in Greece

James K. Galbraith— In the United States we do not consider that there is such a thing as a people of Florida or Rhode Island or even of Texas, who have specific and intrinsic rights to their houses and businesses; nor apart from “buy local” campaigns do we care whether

Continue reading…

The Relationship between Law and Economics

Guido Calabresi— A century and a half ago John Stuart Mill said of English philosopher and political radical Jeremy Bentham, in effect, that he approached the world as a stranger. And, if the world did not fit his theory, utilitarianism, he dismissed what the world did as nonsense. Mill then said

Continue reading…

Brazil’s Meltdown

William R. Summerhill— Brazil is mired in its worst crisis in more than thirty years. The economy and employment are shrinking, while high inflation is eroding consumers’ purchasing power.  The currency has tanked, and along with it the government’s benchmark bond. A major corruption scandal that has already implicated national politicians,

Continue reading…

The Sky is not Falling—the Truth about China’s Economy

Michael Murphree and Dan Breznitz— The front pages are crowded with eye-grabbing headlines declaring that the end is nigh for the Chinese economic miracle. The stock market collapse over the last three months as well as signs of declining energy consumption, slower export growth, and declining demand for industrial raw

Continue reading…

What can the Nobelman case tell us about the next financial crisis?

  Follow @jentaub To address the 2008 financial crisis, congress passed the Troubled Asset Relief Program (TARP) to bailout out the banks and the federal government committed trillions of dollars to save the entire system. Fed chairman Ben Bernanke defended the massive government intervention to rescue the banks.  He said, “it wasn’t

Continue reading…

July Theme: Where is the Money?

Everyone from Liza Minnelli to R. Kelly knows that money makes the world go round. This month, Yale University Press authors are expanding on that observation to explore the fields of economics and global finance under the banner Where is the Money? It might seem like a simple question, but

Continue reading…

Should You Invest in Bitcoin? Here’s a Flowchart to Help You Decide.

Bitcoin is on the rise. The completely digital currency has been covered by Forbes, The Wall Street Journal, and The New York Times, among others. Bitcoins have the power to buy anything from a hot dog at a Sacramento Kings NBA game to a hotel room at a Holiday Inn in

Continue reading…

Brazil: An Introduction to a Rising Global Power

Brazil may have lost badly to Germany in the 2014 FIFA World Cup Semifinals on Tuesday, but they are still competing on the world stage and may soon contend with Germany and other more established countries in the global economy. Indeed, a new book by Michael Reid argues that Brazil deserves consistent international recognition and attention, as

Continue reading…