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“When people search [the Internet], they aren’t just looking for nouns or information; they are looking for action.” A venture capitalist says search engines are changing for the better.
“Not every investor is trembling with anxiety over the next financial blowup. Some are embracing the market’s volatility—and constructing portfolios to profit from it.”
“While America’s super-rich congratulate themselves on donating billions to charity, the rest of the country is worse off than ever.” Der Spiegel reports on the rising rich-poor gap in the U.S.
“Growth is different from consumerism,” says former Labor Secretary Robert Reich. Properly defined, growth is a measure of society’s well-being, not a code word for exploitation.
With federal interest rates already near zero, the Federal Reserve is using an unconventional tool called quantitative easing—buying large assets to inject more money into the economy.
“An Obama task force says that carbon capture—in which greenhouse gas emissions would be stored underground—is feasible. It’s seen as a promising way to combat global warming.”
In describing economic growth, some economists ask how much our mental states have to do with how the economy functions. Trust, for example, is heralded as a necessity for transactions to occur.
The error of the Chicago school was that it fixed reality around its economic theories of the rational consumer and producer. We should begin with irrational reality and proceed from there.