Economics

From Liberalism and Its Discontents, which will be published this month by Farrar, Straus and Giroux. Modern democracies are facing a deep cognitive crisis. For many years now, societies have…

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And how it foretold the 2008 financial crisis

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Hell hath no limits

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In 1972, the economics department at Harvard denied tenure to the leftist professor Samuel Bowles. Responding to the decision in the Harvard Crimson, Bowles asserted that he had been passed…

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The prosperity gospel in recession

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An American cattleman. After much bargaining with the largest banks in the United States,Treasury Secretary Tim Geithner announced the results of the Treasury’s “stress tests,” studies that estimate how the…

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Caught in the Web, 1860. The Department of Justice released four Office of Legal Counsel memos, issued in 2002 and 2005, to address CIA concerns that interrogation methods used on…

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An American cattleman. The U.S. Bureau of Labor Statistics announced that 651,000 jobs were lost in February (making it the third straight month in which more than 650,000 jobs have…

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President Barack Obama addressed a joint session of Congress, offering a broad outline of a massive spending plan paired with $2 trillion in spending cuts over the next decade. “Now…

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