Weekend Reading

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What is the meaning of the word "friendly"?

Greece: It's a bailout!

Unemployment today vs The Great Depression.

Leonardo da Vinci's CV.

Is Botswana in trouble?

Holden Caulfield's State of the Union Address. (See previous post for his Davos speech)

Our CGAP blog has an excellent account of how cash transfers from the United States literally make it people in Haiti.

Nouriel Roubini and friends discuss the "new normal for growth" at Davos. Readers can learn more about the "new normal" for job creation at this year's World Bank Finance and Private Sector Development Forum in March. The keynote speaker will be Niall Ferguson, who will discuss, "Can developing countries learn from the history of money, or are they doomed to repeat it?" The forum is open to the public.

Plus, after the jump, some nerdy economics rap that's so bad, it's good:

Join the Conversation

Per Kurowski
December 12, 2009

When Matt Taibbi quotes as an example of really big bad pro market economics Peter Orszag totally innocuously saying "Market competition and globalization generate significant economic benefits" it is too clear that he is looking at it from such a faraway land he can never understand what happened.

For instance when he writes of “a crushing economic crisis brought on by a decade of orgiastic deregulation” he either has no idea of what happened or wants to hide the fact of how much bank regulations were to blame for this crisis, since regulate they sure did… even to the extent of telling banks how much capital they must have for each type of risk according to how the risk was measured by some of the credit rating agencies to whom the regulators outsourced this function. And of course these regulations benefitted, with the mother of all pro-cyclical regulations, those who already were up at the top with their AAA ratings (plus the governments) and set up the mother of all regulatory arbitrage business opportunities consisting in taking some truly lousy awarded mortgages and transforming them in AAA rated securities with the help of some few infamous financial alchemists.

It is clearly written by someone out on a vendetta … but what makes it interesting though is how much exactly that very same things are said from the other extreme. Poor Obama he sure is between an extreme hard rock and an extreme hard place in the company of some quite useless so called “experts”... God save the… oh no that is in the UK!

Gideon Strauss
August 03, 2006

Re: The African Brain Drain

I recommend reading AnnaLee Saxenian's recent "The New Argonauts."