Ferdinand A. Porsche, who designed the original Porsche 911, the snazzy, powerful sports car that became the lasting signature of the German automobile company founded by his grandfather and later run by his father, died on Thursday in Salzburg, Austria. He was 76. (via Ferdinand A. Porsche, 76, Dies – Designed Celebrated 911 – NYTimes.com)… Continue reading Untitled
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Taken with instagram
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District 12 is a quintessential extractive economy. It’s oriented around a coal mine, the kind of facility where unskilled labor can be highly productive in light of the value of the underlying commodity. In a free society, market competition for labor and union organizing would drive wages up. But instead the Capitol imposes a single… Continue reading Untitled
The commies are hiding under Allen West’s bed.
The commies are hiding under Allen West’s bed.
Anyone else think he did this to bait Colbert into creating a twitter meme?
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ilovecharts: In 2001, the CBO projected a cumulative surplus of $6 trillion. This graph shows how that surplus turned into $6 Trillion deficit. via languageofbrands
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The Spanish government, fearful of the bond markets, enacted tough austerity budget measures that decreased Spanish people’s incomes and therefore demand for the products of Spanish firms. This has pushed the country deeper into recession, so it should come as little surprise that their bond sales are now going poorly. That’s counterproductive austerity at work.… Continue reading Untitled
Why Nations Fail, the Thomas Friedman book report
Why Nations Fail, the Thomas Friedman book report
Thomas Friedman and his magical mustache of understanding cranks out a really lame book review of Why Nations Fail. Mr. Friedman is a really awful writer and this comes off like a night-before-its-due book report.
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So how come the roads are so bad in the richest part of the country? Can’t even the rich people get the government to do things for them in Haiti? Actually they can and do, that’s not the problem here. Here is a hypothesis that was independently proposed by three different people last summer to… Continue reading Untitled
Why is Haiti so poor?
“At the end of World War II, Haiti and the Dominican Republic had essentially identical levels of income per capita. Thereafter, they diverged. ”
Worth a read. Why Nations Fail is the most thought provoking blog in my reading queue these days.
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We’ve had dire warnings about runaway inflation for more than three years at this point. When do people start to consider that maybe they have the wrong model? Floodgates – NYTimes.com