Who Runs the Fed? Timothy A. Canova ? Summer 2015 The 2008 financial crisis challenged many orthodox assumptions in finance and economics, including the proper role and accountability of central banks. The U.S. Federal Reserve, commonly known as the Fed, is the world’s most powerful central bank.
THE FIRST LARGE-SCALE STUDY OF HOW MILLENNIAL ATTITUDES AND ACTIONS VARY ACROSS THE GLOBE, AND THE IMPLICATIONS FOR EMPLOYERS. Welcome to the Millennial Series Universum joined forces with INSEAD Emerging Markets Institute and the HEAD Foundation to investigate and question what has become conventional wisdom about Millennials. By conventional wisdom we mean the statements (even…
Revealed: Rising Inequality Kills American Jobs Barry Z. Cynamon and Steven M. Fazzari, researchers on consumer behavior and how it effects the economy, wrote an op-ed for the St. Louis Post Dispatch in October 2007 in which they predicted that an end to the relentless trend of rising household debt and a subsequent crash in…
The drug trade is, in a word, enormous – of total global crime proceeds, the United Nations has estimated that some $350 billion comes from the sale of illicit drugs. But the economic costs are only one measure of the ineffectiveness of drug policies. When the human costs of violence, human rights…
Citibank Fails Fed Stress Test … The REAL Story Bank of America… Citigroup …Federal Deposit Insurance Corporation… Federal Reserve… Goldman Sachs Royal Bank of Scotland …Shadow Banking…. Bloomberg reports that Citigroup has failed the Fed’s new round of stress tests: Citigroup Inc.’s capital plan was among five that failed Federal Reserve stress…
‘Collapse’ of Modern Civilization a Real Possibility ‘Ecological strain’ and ‘Economic stratification’ could bring global downfall, researchers warn Prophecies of impending doom go back a long way, but this one has the extra cachet of backing by NASA. “Ecological strain” and “economic stratification” could lead to the global fall of modern civilization within decades, researchers…
More and more of modern life is steered by algorithms. But what are they exactly, and who is behind them? Tom Whipple follows the trail There are many reasons to believe that film stars earn too much. Brad Pitt and Angelina Jolie once hired an entire train to travel from London to Glasgow. Tom Cruise’s…
MEXICO CITY My neighborhood dealer was a low-class guy. We went to the same public school, but he was few years younger than me. He was never very bright nor did he excel in anything; he spent his afternoons standing outside his house or at the street corner, without bothering anyone, and with no…
By the year 2025 we will have finally come to grasp that in virtually every human endeavor, density pays. Silicon Valley has known this since Gordon Moore coined his eponymous law nearly half a century ago, predicting the exponentially increasing density and decreasing price of the processing power crammed onto microchips — a dynamic…