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What Is This Weird Balloon For

Archive for January 2012

how modern business works

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It’s pretty simple.

Written by geek

20/01/2012 at 2:12 am

Posted in economy, sad

i want

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One of these.

Written by geek

20/01/2012 at 1:30 am

Posted in art

banks, what are they good for?

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Why was it so politically difficult to reregulate the banks? he wondered. Why couldn’t the Administration harness the populist outrage? What good had Wall Street ever done for America? “There must be something useful in there, but it is really hard to see what,” he says. “That’s everybody’s challenge: come up with a clearly beneficial example of financial innovation without mentioning A.T.M.s, and no one can do it. If there are arbitrage opportunities and you’re able to spot them a few seconds before anybody else, you can make a lot of money, but there’s no actual social gain from doing that. We’ve tried talking to our friends in finance, and they say, ‘Liquidity, liquidity, liquidity.’ Well, there is some social loss if people are hanging on to a lot of idle cash, so the financial system, by providing liquid assets that provide a pretty good yield, is supposed to deal with that. But it turns out that, just when you need it most, that liquidity froze.”

Krugman

What about Krugman himself?

 If there is sadness in him at all, I think it is a tiny core of profound sadness of the kind that the Buddha understood—that we probably can’t use human rationality to make the world all better, and it would be really nice if we were able to.”

 

Written by geek

11/01/2012 at 3:14 am

Posted in economy