Ah, when you introduce the ‘yardstick’… ========= Small business owners don’t plan all those hours for little pay. Sometimes it just works out that way. By JOHN H. HEYER May 5, 2014 6:57 p.m. ET Amid all the national discussion about raising the minimum wage, it’s easy to forget that there are thousands, if not millions, of Americans who work for less than the... Read more
Archive for the ‘Economics’ Category
High-Frequency Hyperbole
April 2 | Posted by mrossol | American Thought, EconomicsSecond article. Some good stuff. ========== A few nights ago, CBS’s “60 Minutes” provided a forum for author Michael Lewis to announce that Wall Street is “rigged” and for the sponsors of a new trading venue called IEX to promise to unrig it. The focus of the TV segment was high-frequency trading, or HFT, an innovation now over 20 years old. The stock... Read more
Book Review: ‘Flash Boys’ by Michael Lewis – WSJ.com
April 2 | Posted by mrossol | American Thought, EconomicsTwo articles. This first one is the book review ‘against’ High Speed Trading. The second will provide perspective. ======== In the spring of 2007, Brad Katsuyama, a rising New York banker at the Royal Bank of Canada, RY.T +0.01% realized something was funny with the markets. He was trying to buy 10,000 shares of Intel, INTC -0.38% offered at... Read more
The Growth Revolutions Erupt
March 1 | Posted by mrossol | Economics, ObamaIts a proven fact: Income inequality in the 11th Century was much, much less than it is today. Ah, for those good old days! ========= Feb. 26, 2014 7:32 p.m. ET All future histories of the Obama presidency will analyze the phrase “leading from behind”—the idea that the U.S. superpower should behave as no more than a co-equal partner in managing the affairs... Read more
The ObamaCare Carnival of Perverse Incentives
January 24 | Posted by mrossol | Economics, ObamaCareIncentives matter. M. Barrett =========== With fewer glitches to deter them, millions of Americans are now logging on to the ObamaCare health-insurance-exchange websites. When they get there, many are discovering some unpleasant surprises: The deductibles are higher than what most people are used to, the networks of doctors and hospitals are skimpier (in some cases much skimpier), and lifesaving drugs are often not... Read more
You don’t need statistics to know economics
January 23 | Posted by mrossol | American Thought, EconomicsTwo in one week: One succinct word for the Fed and politicians. ===== Cowperthwaite was a humanist in a field that had fallen victim to social science. I have no great confidence that Chairman Yellen will follow his lead—even if I advise her to do so—and banish statisticians from her cold marble temple on Constitution Avenue. As a highly decorated economist, she... Read more
