Wow. I never realized I was a chapter twelve kind of guy. Less so a part one guy. Who knew? I have come to this realization as a result of reading Paul Krugman’s speech at a recent conference commemorating the 75th anniversary of Keynes great General Theory. In general terms: chapter twelve is where he […]

We should never be too hasty to turn out the lights. There is always the hope that our narrative can continue, and that this is not the last act, but is only an interlude in a much longer, and better, play. Then again, I am tempted to call for the curtain to drop on this […]

The deluge of news and opinions on the Greek crisis has surely exhausted all the options. I don’t intend to add much more. But I do want to say: Piling on more pain is useless. A default is both inevitable and desirable. Inevitable because austerity will push the Greek economy down and could easily create […]