News
USA Today | Rural economies in West, Midwest remain strong
The economy remains strong in rural areas of 10 Midwest and Western states because of the health of agricultural businesses there, according to a new survey of banks serving rural areas.
WSJ | At Summit, a Struggle for Consensus on Economic Woes
Leaders of the Group of Eight major economies ended a weekend summit in which they struggled with little success to find agreement on next steps to calm the euro zone debt crisis, which poses a threat to the fragile U.S. recovery.
USA Today | Smallest of businesses can have a huge impact
In honor of National Small Business Week from May 20 to 26, I want to salute the smallest of small businesses.
WSJ | Europe Weighs Exit Scenario
Europe has begun to prepare for Greece's possible exit from the euro zone ahead of a crucial round of elections in the country next month, which are fast becoming a referendum on its membership in the common currency.
Econ Comments & Analysis
Washington Times | EU train wreck, meet U.S. stuck truck
Resembling a huge 74-wheeler packed with unassembled goodies, the U.S. economy is stranded on the grade crossing with the Euro Express gathering speed as it tears down the tracks for a seemingly inevitable collision.
Washington Post | Role of American capitalism on trial
This election is being fought along the traditional skirmish line of capital versus labor. President Obama projects himself as the protector of workers and families who are preyed upon by greedy and wealthy capitalists.
Washington Times | Springtime blues for consumers
Americans are still asking themselves, “where’s the recovery?” The latest re- ports suggest the answer is nowhere in sight, as the present “recovery” is looking an awful lot like a recession.
AEI | J.P. Morgan and the conceptual confusion of the Volcker rule
We have certainly heard a lot about the $2 billion "trading loss" at J.P. Morgan, which is of course not at all the same as the bank experiencing a loss on its bottom line. From the perspective of the corporate profit and loss statement, a trading loss is one expense item in the context of all revenues and expenses.
Blogs
CATO | Why Top Incomes Rose: Elasticity Not Corporate Executive Pay
The politically convenient media fascination with incomes of the top 1 percent has degenerated into a new obsession with the top one-tenth of one percent – the top 0.1 percent. As before, the blame game points to greedy corporate executives.
Calculated Risk | Unofficial Problem Bank list increases to 928 Institutions
Here is the unofficial problem bank list for May 18, 2012.
Atlantic | Hayek Was Right: Why Cloud Computing Proves the Power of Markets
This sets up something I explore at length in the book: the fundamental tension between innovation and cohesion, which I see as the key trade-off that has undergirded most of key political economy debates of at least the last 30 years. I make some limited suggestions that I believe could slightly alleviate it.
WSJ | Economists React: What if Greece Exits the Euro Zone?
As the prospect of Greece leaving the euro becomes more real by the day, economists are trying to figure out what would happen next, to the economy and to the markets.
