Where were the directors? While the focus is on William McGuire, who stepped down last week as chairman and chief executive of UnitedHealth Group, not enough attention is being paid to that company’s board of directors. What were they doing…
Corruption affects economy in big, little ways
Does political corruption affect the economy? That is a particularly relevant question given recent news. The answer is that corruption matters economically, but the effects vary depending on the circumstances. Consider the following recent cases: Last week: Rep. Bob Ney,…
Lumber-aid ideas revive new debate
Minnesota’s forest products industries are in a slump. Companies that produce lumber, oriented-strand board and other building materials are particularly hard hit by the sharp decline in new-home construction nationwide. Many have cut back production, and some are closing, at…
Nobel laureate revitalized Keynesian theory
The committee members who choose Nobel laureates worry that history will judge their insights. Sometimes, they hedge their bets by honoring leaders from opposing sects within the discipline. That happened this year in awarding the economics prize to Edmund Phelps,…