John Crudele uses the Stones, David Bowie, and Rod Stewart to illustrate the results.
And see also "As history shows, 70 percent tax rates won't raise enough revenue to fund socialism" and "America Needs to Relearn Economics".
And to think that some people believe social mobility in the U.S. is low.
That was one heck of a tsunami. Glad I missed it.
My family and I saw this movie recently. One the one hand the subject matter is somewhere between profoundly discouraging and horrific. On the other hand it's like nothing I've seen before and I'll probably not ever see anything like it again and it is extremely well made, even beautiful in spots. I read that it was released too late for this year's Oscars, but I think it would be a big upset if it didn't win next year.
Two more reviews: "They Shall Not Grow Old Is the Movie of the Year" and "They Shall Not Grow Old (3D)".
Why "The core claim is that up until the 19th century the consensus of opinion was that Troy was nothing but a myth" is incorrect and why Troy doesn't tell us anything about the possible existence of Atlantis.
Interesting brief analysis of whether current business buybacks of stock are "too high". With a story about the East India Company I hadn't heard before.
John Cochrane summarizes, and largely agrees with, a recent paper by Larry Kotlikoff ont the cause of the Great Recession.
In my view, the understanding that the crisis was a run, that without a run there would have been no crisis, somewhat like the 2000 tech stock bust, and that lots and lots more capital is the only real answer, has emerged slowly over the last 10 years. Larry's essay is good for putting all the others to rest.
Link via Arnold Kling.
UPDATE: In a short piece Kotlikoff makes his case. But he refers to "leverage and opacity" as the cause and misses a better phrase. A commentator I read once stated that almost all financial crises are the result of "leverage and lies".
I seem to remember 20+ years ago when Deep Blue beat Kasparov, a number of folks predicted that almost no one would want to play chess anymore. Oops. Is this a metaphor for the much-feared AI takeover of society?
The first three minutes of this video present the questions. I agree, they are a lot of fun to present Liberals with. (Some of the last twelve minutes discusses the origins of the Great Recession--and Barney Frank's underemphasized role--and is also interesting.)
Take a refresher course in U.S. history, Bernie. Does the name Woodrow Wilson ring a bell?