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The smart money says the U.S. economy will splinter, with some states thriving, some states not, and all eyes are on California as the nightmare scenario. After a hair-raising visit with former governor Arnold Schwarzenegger, who explains why the Golden State has cratered, Michael Lewis goes where the buck literally stops—the local level, where the […]

The September 11, 2001 attacks have been a symbol of many things and many causes, but like the lavish, flag-draped rebuilding of the site, it has also been a vehicle for enrichment. From corporations to politicians to government officials to nonprofits to the security industry to publishers to the health industry (not to mention the […]

Instead of the surge of rebounding growth which historically accompanies successful exit from a recession, we have the UK’s disappointing 0.2 per cent growth, the US’s anaemic 0.3 per cent and the glum eurozone average figure of 0.2 per cent. That number includes the surprising and alarming German 0.1 per cent, the desperately poor French […]

Still, we face several challenges. First of all, every new company today is being built in the face of massive economic headwinds, making the challenge far greater than it was in the relatively benign ’90s. The good news about building a company during times like this is that the companies that do succeed are going […]

With Greece and Ireland in economic shreds, while Portugal, Spain, and perhaps even Italy head south, only one nation can save Europe from financial Armageddon: a highly reluctant Germany. The ironies—like the fact that bankers from Düsseldorf were the ultimate patsies in Wall Street’s con game—pile up quickly as Michael Lewis investigates German attitudes toward […]

Yet only two years in, the future of carbon capture and storage (CCS) is in jeopardy. On July 14, American Electric Power pulled the plug on its CCS efforts, citing a weak economy and the “uncertain status of U.S. climate policy.” CEO Morris said AEP and its partners “have advanced CCS technology more than any […]

Much of what liberals blame on financialization is a result of profound changes to both the United States and the global economy that date from as early as 1968—well before the onset of financialization. In fact, the growth of the finance sector was partly a product of these developments. It is true that the speculative […]

Since 1978, the price of tuition at US colleges has increased over 900 percent, 650 points above inflation. To put that in number in perspective, housing prices, the bubble that nearly burst the US economy, then the global one, increased only fifty points above the Consumer Price Index during those years. But while college applicants’ […]

“Etsy has made it possible for a lot of small businesses to get off the ground,” says Dale Dougherty, co-founder of O’Reilly Media and the publisher of Make magazine, which covers the do-it-yourself economy. “But even the most successful crafters run up against the limits of their own labor. Handmade can be a limited idea.” […]

One could also read ‘The Master Switch’ as a much bolder attempt to influence the future of the information economy, not just net neutrality. In the book and in recent public appearances, Wu has focused on the growing power of Apple, Facebook, and Twitter—not the usual contestants in net neutrality debates. He believes that some […]