Commentary / World Mar 20, 2015

American-style shareholder capitalism on trial

Shareholder capitalism in the U.S. seems caught in a vicious circle as consumers spend less and save more to protect themselves against future economic shocks, thus prompting businesses buy back more of their stock and return the money to shareholders rather than launch major ...

Commentary / World Mar 13, 2015

Distinguishing good wage increases from bad

Any acceleration of wage gains in the U.S. could be taken as evidence of greater inflationary pressures and justification for the Federal Reserve to make quicker and steeper increases in interest rates. But the risk is that this conventional interpretation is mistaken.

Commentary / World Feb 20, 2015

New tech isn't paying off as much as before

We are not getting our money's worth from the "creative destruction" process that the economist Joseph Schumpeter trumpeted. For example, the technology that makes social networking possible monetizes activities that used to be outside the market's purview, while leaving us open to criminal and ...