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Solis/Associated PressHaley Barbour, the governor of Mississippi, announced Monday that he would not run for president in 2012. Haley Barbour’s decision to forgo a run for the presidency in 2012 puts him in the company of a half-dozen top Republicans who have considered — and rejected — a challenge to President Obama next year. The question is: why? In a statement that surprised much of official Washington, Mr. Barbour indicated that he does not have “absolute fire in the belly” to mount a campaign that, if he wins, could consume the next 10 years of his life.
“I cannot offer that with certainty, and total certainty is required,” he said. Others have offered different reasons. Among those who have turned down the chance to run in 2012: Chris Christie, the governor of New Jersey; Jeb Bush, the former governor of Florida; and Senator Bob Corker of Tennessee. But the publicly stated reasons often mask other considerations as politicians consider whether to run for president.
Bloomberg’s Big Push for an Applied Sciences School. Financial Information Services - Markit.com. Europe Investigates Banks Over Derivatives. 11:05 a.m. | Updated European Union antitrust regulators announced on Friday two sweeping antitrust investigations into the world’s largest banks and their roles in a market for derivatives where a small number of companies control trillions of dollars of financial instruments.
The European officials are looking at whether banks, including Barclays and Goldman Sachs, have harmed rival organizations that could compete in markets for providing information and clearing a form of transaction that had become critical to the smooth functioning of the entire economy. “Lack of transparency in markets can lead to abusive behavior and facilitate violations of competition rules,” the European Union antitrust commissioner, Joaquin Almunia, said in a statement. “I hope our investigation will contribute to a better functioning of financial markets and, therefore, to more sustainable recovery.” The banks are involved in two crucial components of the market for credit default swaps.
School Work. Pearlies Pearlies. Obama Reissues Call to End Oil Company Tax Breaks. Joichi Ito Named Head of M.I.T. Media Lab. The Limits of School Reform. Design Milk: Modern Design. The Birth of Game Theory. Taxation Is Not Slavery. “Taxation without representation,” as James Otis said, “is tyranny.”
But taxation with representation is just democratic government. After I argued earlier this week that if anything we should pay more in taxes, a Facebook commenter wondered if Big Think ever came down against government coercion. I don’t speak for Big Think, of course, and I’m sure that the other bloggers here disagree with me about much of what I write. But it certainly is true that if we don’t pay the taxes we’re asked to pay the government will fine us or even throw us in jail. Some even compare the time we spend working to pay our taxes to slavery. It’s not slavery. Those who complain about paying their taxes seem to want goverment to operate on a take-a-penny-leave-a-penny model. While we may not personally use government services that much, or receive much in the way of government handouts, the truth is that most of us benefit from what the government does more than we realize. U.S. credit outlook cut by S&P on deficit concerns. Analysis: Why smart investors made money on the BP oil spill.
Capitalism is failing the middle class. Global capitalism isn’t working for the American middle class.
That isn’t a headline from the left-leaning Huffington Post, or a comment on Glenn Beck’s right-wing populist blackboard. It is, instead, the conclusion of a rigorous analysis bearing the imprimatur of the U.S. establishment: the paper’s lead author is Michael Spence, recipient of the Nobel Prize in economic sciences, and it was published by the Council on Foreign Relations. Spence and his co-author, Sandile Hlatshwayo, examined the changes in the structure of the U.S. economy, particularly employment trends, over the past 20 years. They found that value added per U.S. worker increased sharply during that period – 21 per cent for the economy as a whole, and 44 per cent in the “tradable” sector, which is geek-speak for those businesses integrated into the global economy.
But even as productivity soared, wages and job opportunities stagnated. Synergy Art Foundation. Work / Live Space for Artists.
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