If one owes a bank a thousand dollars, he has a problem. But if one owes a bank a billion dollars, then the bank has the problem. From the four years I spent in China, I assure you this truism is not lost on the Chinese, though one must never forget the banks’ nifty little [...]
Tag Archives: Economy
Lessons from Greece
Below is the rough transcript of some remarks I made at the campaign’s successful fun-raiser at the American Sandwich Company in Coopersburg on June 6, the 66th anniversary of D-Day. More details on the fundraiser in tomorrow’s post. The event began with a moment of silence for veterans, especially the 5,490 soldiers who have died [...]
Jobs
Common Sense Fixes the Job Market “Economics consists of looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups… The economic goal of any nation, as of any individual, is to [...]
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