Search Results for: larry summers new model

Is Everyone Confused Yet? (Bank Stress Tests)

The public relations campaign packaging the bank stress tests is kicking into high gear and our professional information managers are really hitting their stride.  They face, of course, a classic spin problem: you need to get the information out there, but you don’t want to be too definitive on the first day or soon after – if … Continue reading Is Everyone Confused Yet? (Bank Stress Tests)

All About Optics (Predicting Stress Test Outcomes)

The bank stress tests are beginning to create a perception problem, but not – as you might think – for banks.  Rather the issue is top level Administration officials’ own optics (spin jargon for how we think about our rulers). At one level, the government’s approach to banks – delay doing anything until the economy … Continue reading All About Optics (Predicting Stress Test Outcomes)

Zombie Oligarchs

At this stage in any economic stabilization process, the state-sponsored lifeboat for oligarchs starts to get a little crowded.  Governments don’t have enough resources to save everyone, and not all major borrowers can have their debts rolled over.  In emerging markets, it’s usually the shortage of foreign exchange that sets a limit on government largesse (see the start … Continue reading Zombie Oligarchs

The People v. The Flu

In Plagues and Peoples, published in 1976, William McNeill argued that human history can be thought of as the co-evolution of our societies and the “microparasites” to which we are prone.  The emergence of settled agriculture, major historial movements of people, and industrialization all brought with them new or more intense diseases.  Eventually, most societies figured … Continue reading The People v. The Flu

Pierre Bourdieu, Tim Geithner, and Cultural Capital

France in the 1960s and 1970s was the source of a tremendous amount of new philosophical, literary, and critical thinking – Foucault, Derrida, Lévi-Strauss, Baudrillard, Barthes, etc. But in my opinion, the most important member of that intellectual generation was the sociologist Pierre Bourdieu. In Distinction, Bourdieu’s best-known work, he described how economic class is … Continue reading Pierre Bourdieu, Tim Geithner, and Cultural Capital