The Scam Wall Street Learned from the Mafia
- 29 June 2012
Matt Taibbi brilliantly describes how banks conned small towns across the US. "No thumbs were broken, and nobody ended up in a landfill in New Jersey, but money disappeared, lots and lots of it, and its manner of disappearance had a familiar name: Organised crime." Rolling Stone
In one of the three books reviewed by economists Robin Wells and Paul Krugman, they explain how Obama's economic team fumbled the recovery because of its links to Wall Street. The New York Review of Book
Noah Smith argues that the prestige of the marco field of economics is falling because as things stand, macro is mostly a "science" without falsification. Therefore, macroeconomists need to admit their ignorance more often and search for better ways to falsify macro theories in a more convincing way. Noahpinion
In this piece, Merrill Goozner points our attention to the current tug of war between the credit supply and demand issues facing small businesses amid a sluggish economic environment. The American Prospect
"Monti has failed to produce the miracle that Italy was hoping for, offering only painful remedies for years of misgovernment. It turns out that politics matter, and technocrats aren't much good at politics." Bloomberg View
Got any other suggestions for what we should be reading? Tell us below?
Sign up for our free email newsletter here.
- What will happen next to the UK economy?
- How do we defuse the UK student debt time bomb?
- Oh those ghoulish gold bugs
- Tesco shares rise as retailer paves the way for new CEO
- Millions of retirees to be offered free and impartial advice under new pension rules
- Pension reforms: The six points savers need to know
- Death of the 55% tax charge?
- UK dividend growth grinds to a near halt as the strength of the pound hits payouts
- Raging against the machines
- "Should I stay or should I go?" What to consider if your investment fund is under-performing