It’s too bad Thomas Nast, the father of U.S. political cartooning, died a century ago, because we need his acid wit and sharp pencil to depict the blame game over the causes of the great financial fiasco of 2007-2010. One…
Irrationality informs more decisions than you think
Irrationality is the root cause of major and minor outcomes in the real world. Whether or not you are outraged by the idea of credit card companies charging their usual fees on donations for Haiti relief, the fact that the…
Tiny countries endure greater devastation
Poor Haiti. This week’s devastating earthquake is yet another blow for a country with a tragic history. The images of death and destruction are heartbreaking. Right now, the focus is rightly on trying to get food, water and medical care…
The Central Bank does not exist to make a profit
The question of whether the Federal Reserve made a ‘profit’ is of much less importance than the per-capita consumption of snails in North Dakota. So I was disappointed this week when I heard a long news story on the radio…