John Maynard Keynes’s generation of economists assumed that as people became more efficient at satisfying their wants, they would, and should as rational agents, work less and enjoy life more. Yet power relationships and the insatiability of human wants are such that we have maintained an ethic of acquisitiveness.
On Saturday, famed hedge fund billionaire and economic theorist George Soros gave a speech in Trento, Italy before the Festival of Economics about the European financial crisis. It's quite long, but still well worth reading because his understanding of Europe's problems is clear and deep. You can find it on his site GeorgeSoros.com.
Nike's uber-hyped Air Yeezy II is finally coming out next week (June 9th, to be exact).
The Kanye West-designed sneaker is the most anticipated shoe ever.
Located close to Silicon Valley, Blueseed aims to be the first offshore floating startup community for firms whose employees do not have US work permits.
With plans to launch between the third quarter of 2013 and the first quarter of 2014, Blueseed will consist of a large vessel located 12 nautical miles from the coast of California, in non-territorial waters.
It's not completely clear how the fire started, but most historical accounts hold that burning trash in a landfill near an abandoned strip mine ignited an exposed coal vein. The fire spread throughout a labyrinth of coal mines beneath the town, creating a giant underground inferno.
That was 50 years ago today.
Half a century later, Centralia, Pennsylvania still burns.
Academics, donors and some aid agencies have begun measuring what works. Development is becoming a science
I knew I was going to love this job here,” says Anthony Lake, Unicef’s executive director, pointing at his heart beneath his suit jacket. “But,” he points to his head, “it is fascinating here too. There are no boring bits.”
Reuters notes that Fidelity, the mutual fund and retail brokerage powerhouse, is working with "thousands" of customers to resolve issues related to the botched Facebook IPO.
Nearly a week after the deal was priced, "many investors have found that their orders for Facebook were not executed at the prices they thought, said advisers…"
The Boston-based company was not shy about placing the onus on the Nasdaq.
An insider points out the holes that still exist on Wall Street and in the banking system. Exile on Wall Street is a gripping read for anyone with an interest in business and finance, U.S. capitalism, the future of banking, and the root causes of the financial meltdown.
There is more at stake in Saturday's Champions League final between Bayern Munich and Chelsea than the title. In it, the social market economy goes head-to-head with Anglo-Saxon capitalism.