City development, key to economic prosperity

jacobs.html But even better are the less read The Economy of Cities (1970) and Cities and the Wealth of Nations (1984), twin volumes which do nothing less than demolish and rebuild macroeconomics. Economics went wrong, she explains, with the work her titles allude to, Adam Smith’s The Wealth of Nations. Nations aren’t the proper unit [...]

About the wage productivity gap

t r u t h o u t | Dr. Ravi Batra: New Thinking on the Economy The wage-productivity gap is the gap between the real wage and labor productivity. The real wage is the purchasing power of the average salary. If productivity rises fast and the real wage rises slowly, then a wage-productivity gap [...]

Expertise is overrated

Op-Ed Columnist – Learning How to Think – NYTimes.com One explanation is that so-called experts turn out to be, in many situations, a stunningly poor source of expertise. There’s evidence that what matters in making a sound forecast or decision isn’t so much knowledge or experience as good judgment — or, to be more precise, [...]

AIG and how the US got here

The Big Takeover : Rolling Stone The latest bailout came as AIG admitted to having just posted the largest quarterly loss in American corporate history — some $61.7 billion. In the final three months of last year, the company lost more than $27 million every hour. That’s $465,000 a minute, a yearly income for a [...]

Good business opportunity in public auctions

Cash-hungry U.S. states turn to Web to auction goods | Technology | Reuters NEW YORK (Reuters) – U.S. municipalities, strapped for cash as the recession decimates revenues, are stepping up sales of everything from old police cars, helicopters and bicycles to confiscated jewelry and slot machines in an effort to reduce swollen deficits. The situation [...]

50% Of Americans 2 Paychecks Away From Having Big Financial Problems

Emergency Funds: 50% Of Americans 2 Paychecks Away From Having Big Financial Problemos US News reports that half of Americans are two paychecks away from hardship.They quote this from a recent MetLife study to highlight the problem:”Without a steady paycheck, 50% of Americans say they could not meet their financial obligations for more than a [...]

Unveiling the “Sixth Sense,” game-changing wearable tech

Pattie Maes demos the Sixth Sense | Video on TED.com Talks Pattie Maes & Pranav Mistry: Unveiling the “Sixth Sense,” game-changing wearable tech

Money is debt documentary

Working women almost certainly caused the credit crunch – The Irish Times

Controversial but interesting viewpoint: Working women almost certainly caused the credit crunch – The Irish Times – Wed, Feb 25, 2009 NEWTON’S OPTIC: THE ANSWER to all our problems is staring us in the face. It may even be quite literally staring at you, right now, across the breakfast table. So put the paper down, [...]

What businesses did well in The Great Depression? | Trusted.MD Network

What businesses did well in The Great Depression? | Trusted.MD Network According to statistics published some 20 years ago by Dr.Ravi Batra, the safest businesses and industries during the worst years of the Great Depression (1929-1933) were: Repair shopsEducational services (A lot of young men that couldn’t find work borrowed money to go to trade [...]