That’s One Way to Put It According to “Why Nations Fail,” a book cited by Tom Friedman in his New York Times column today, egalitarian institutions are the key to successful nations, “extractive economic and political institutions” lead to failed ones. I have no issue with the authors’ observations and conclusions — after all, they’re Tenured...Read More
No Longer AWOL on Financial Reform Notwithstanding a very long public record of Wall Street self-dealing, treachery, and greed on a scale never before witnessed in American (world?) history, New York Times columnist (and St. Louis Park native) Tom Friedman has been silent on the need for systemic financial and political reform. Until today. Our Congress...Read More
No, I didn’t catch Fed Chairman Ben Bernanke when he was in town Thursday. But I’m pretty sure I just passed Thomas L. Friedman walking around the south end of Lake Calhoun about an hour ago. A St. Louis Park native, Friedman must have known that the terrific weather this weekend made it an opportune...Read More
Diagnosis: Excellent. Prescription: None Until we as a country figure out how to divvy up these losses on housing and let these markets clear and move on, they will be a serious drag on employment. –Thomas L. Friedman, “The Uncertainty Tax“; The New York Times (6/11/2011) NYT Columnist (and former St. Louis Park ECHO staffer)...Read More
Do you know the only thing to give me pleasure? It’s to see my dividends coming in. –John D. Rockefeller Trust me, I have very little in common with John D. Rockefeller, starting with my balance sheet. And blog hits don’t pay the bills — commission checks do. But I confess, substitute “blog hits” for...Read More
“We” Minus the “Us”; or,More Pronoun Confusion The bailout and stimulus that we have administered to ourselves have left us without much cushion. There may be room, and even necessity, for a little more stimulus. But we have to get this moment right.” –Thomas Friedman, “Got to Get This Right“; The New York Times (11/27/2010)...Read More
