It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell...
Shareholder activism is not a privilege - it is a right and a responsibility. When we invest in a company, we own part of that company and we are partly responsible for how that company progresses. If we believe there is something going wrong with th...
I looked back at some of my earlier published stories with genuine horror and remorse. I got thinking, How many extant copies might there be, who owns them, and do they keep their doors locked?
Patagonia, a large apparel manufacturer based in Ventura, California, has organized itself as a 'B-corporation.' That's a for-profit company whose articles of incorporation require it to take into account the interests of workers, the community, and ...
Economies are risky. Some industries rise, and others implode, like housing. Some places get richer, and others drop, like Atlantic City. Some people get new jobs that pay better, many lose their jobs or their wages.
The curious thing is Americans don't mind individual mandates when they come in the form of payroll taxes to buy mandatory public insurance. In fact, that's the system we call Social Security and Medicare, and both are so popular politicians dare not...
There are two kinds of directors: There's the kind where two plus two equals four, and you have to help them figure it out. And then there's the kind that throws you in a room, locks the door, sets the house on fire and films it.
Unfortunately, I'm an engineer. I'm always thinking about, what's the task and how do I get it done? And some of my tasks are pretty broad, and pretty fuzzy, and pretty funky, but that's the way I think.
I only have disdain for New York City Mayor Michael Bloomberg. He raised taxes and has increased regulations. What else is new? He's a bully who wants to micro-manage people's lives by mandate, not persuasion.
The profit orientation is only one orientation of a person. The same people who are interested in profit-making are also selfless. I am not saying that capitalist theory is wrong. I am saying that it has not been interpreted and practiced fully.
I was teaching in one of the universities while the country was suffering from a severe famine. People were dying of hunger, and I felt very helpless. As an economist, I had no tool in my tool box to fix that kind of situation.
The Obama administration deserves credit for quickly ending the housing free fall. In particular, Obama empowered the Federal Housing Administration to ensure that households could find mortgages at low interest rates even during the worst phase of t...
The average credit score of today's FHA borrowers is higher than the average American household with a score. As it becomes more costly and difficult to get a FHA loan, loans from private mortgage lenders will become more attractive and their market ...
If somebody tweets 'I like Coca-Cola,' does that mean that they're actually going to buy Coca-Cola? One can? Two cans? Three cans? If they retweet someone else's Tweet, does that mean they're going to buy it?
We must embrace a new agenda based on inclusiveness; a commitment to reconnecting the social and the economic; a relinking of the latter to a plausible redistributive system; and a determination to ensure that everyone has access to justice. All thes...
What my research has shown me is that experts tend on the whole to form very rigid camps; that within these camps, a dominant perspective emerges that often silences opposition; that experts move with the prevailing winds, often hero-worshipping thei...
Our guts can really mislead us. Sometimes, what we think of as our gut is something else, like an outside influence. If you're going to buy an apartment and it smells of freshly baked bread, you're more likely to want to buy it.
Language is too complex for a computer to understand. It's not going to be able to make sense of what people are saying en masse. We need a new type of discipline that puts together computer scientists and social scientists, who can add context to th...
Philanthropists today want input into how their monies are being deployed. The big question is, can governments use this insight to sell the rich the idea of paying more tax rather than spend more on charitable giving?
Many think of management as cutting deals and laying people off and hiring people and buying and selling companies. That's not management, that's deal making. Management is the opportunity to help people become better people. Practiced that way, it's...
My experience is that if the military didn't want to use force and was confronted with a president that did, the military would come back with what I would call the 'bomb Moscow' scenario. They would say it had to be done with conditions that were so...
