This blog is no longer being updated. About this blog.

Financial Crises for Dummies

Saturday, 7 Mar 2009 at 5:03 pm

This American Life recently broadcast an episode about the financial crisis that made the situation comprehensible to this non-accountant.

Tags: ,

Comments off

Tragedy of the Commons

Wednesday, 12 Nov 2008 at 11:19 am

Who’s surprised that Wall Street is driven by greed?

One of the chief reasons that I’m not a free-market libertarian (it’s tempting) is because that philosophy doesn’t take into account externalities. The latest financial meltdown is another tragedy of the commons. Michael Lewis, author of Liar’s Poker, tells a story of those who broke the financial system and those who saw the end coming. (via kottke.org)

Tags: , , , , ,

Comments (1)