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Charles Murray: Why Capitalism Has an Image Problem. Spain's Crisis Pushes Educated Into 'Economic Exile' Hide captionGovernment employees demonstrate against the Spanish government's austerity measures in Madrid, on Friday.

Spain's Crisis Pushes Educated Into 'Economic Exile'

The economic situation has forced some Spaniards to leave the country for work. Pierre-Philippe Marcou/AFP/Getty Images. Why some countries are richer than others. Capitalist countries’ prosperity is rooted in the ancient Cistercian monastic order. (Photo: Colourbox) Why is the Western part of the world enjoying wealth and growth, while other countries are left behind in poverty?

A new PhD thesis seeks to find an answer to this question by digging deep into the underlying mechanisms of growth. One of the clues the thesis follows begins in France in 1098, when a breakaway group of monks formed a new monastic order. We’ll get back to that, but first we need to delve a little deeper into the underlying factors of wealth and growth. The Meaning of Libor-gate. The price of Treasury bonds is supported by the Federal Reserve’s large purchases. The Federal Reserve’s purchases are often misread as demand arising from a “flight to quality” due to concern about the EU sovereign debt problem and possible failure of the euro. Another rationale used to explain the demand for Treasuries despite their negative yield is the “flight to safety.” A 2% yield on a Treasury bond is less of a negative interest rate than the yield of a few basis points on a bank CD, and the US government, unlike banks, can use its central bank to print the money to pay off its debts.

Charts: What Your Trash Reveals About the World Economy. "The fastest way to reduce solid waste volumes is to have a recession," writes World Bank urban specialist Dan Hoornweg in a report on the state of trash in cities. Hoornweg elegantly sums up why garbage is and will remain a vexing problem. Here in the United States, we hear "zero waste" and think sanctimonious yuppies. Volkswagen: VW conquers the world. Yes, There Is an Alternative to Capitalism: Mondragon Shows the Way. There is no alternative ("Tina") to capitalism?

Yes, There Is an Alternative to Capitalism: Mondragon Shows the Way

Dani Martinez, innovation director at Orbea bicycles, part of Mondragon Co-operative Corporation, in Mallabia, 2011. (Photograph: Vincent West/Westphoto for the Guardian) Really? What Silicon Valley Can Learn From Mother Russia. EVANSTON, Ill. — Venture capitalists deciding whether to fund a new start-up could learn a thing or two from imperialist Russia.

What Silicon Valley Can Learn From Mother Russia

A new analysis of relationships among Russian entrepreneurs during the economic boom of the late 1800s and early 1900s reveals that the most successful teams were a mix of outgoing, gregarious networkers and cohesive, insular types. Those ventures may have been trading in beets, barley and burlap, but they still hold lessons for doing business in the digital era. When investigating a potential start-up, investors should consider the mix of founding members in addition to each individual’s credentials, Brandy Aven, an expert in organizational behavior and theory at Carnegie Mellon University in Pittsburgh, reported June 20 at the International Conference on Network Science.

China Embraces Ponzi-Bonds. China is preparing to launch a program that will create the same complex debt-instruments that triggered the global financial crisis in 2008.

China Embraces Ponzi-Bonds

The pilot program will allow banks to convert pools of loans into securities via off-balance sheet securities firms called Special Purpose Vehicles (SPV) or Structured Investment Vehicles (SIV). The process, which is called securitization, helps banks to circumvent capital requirements by hiding debt on off their books, thus, allowing them to increase leverage by many orders of magnitude.

Securitization turbo-charges credit expansion while concealing the risks from shareholders, investors and depositors. The 32 Sexiest, Tastiest, Creepiest And Craziest Economic Indicators In The World. Suzuki: 'Absurd' to Let Corporations Profit in Name of 'Saving Planet' GUELPH, Ontario — Allowing economic forces to be a role player in saving the environment is “absurd,” says Canada’s most prominent environmentalist.

Suzuki: 'Absurd' to Let Corporations Profit in Name of 'Saving Planet'

Suzuki in this undated file photo. “It’s absolutely absurd to make money about saving lives. Crazy,” Suzuki said, in response to comments from fellow panelists at University of Guelph. Cenk Uygur Asks If the US Should be Following Iceland's Model in Dealing With the Financial Crisis. Wall Street And High Frequency Trading: The 86% Vs. The 99% Everybody knows the dice are loaded, everybody rolls with their fingers crossed.

Wall Street And High Frequency Trading: The 86% Vs. The 99%

Everybody knows that the war is over, everybody knows the good guys lost. Everybody knows the fight is fixed;the poor stay poor, the rich get rich. That’s how it goes…And everybody knows Last week Bill Maher took the Occupy Wall Street movement to task for not getting more directly involved in the political process. Basically, he dismissed the plans that OWS has prepared for this summer, suggesting that they’re ineffective, and a little ‘too last year’ to be of any consequence. The World's Richest Countries And Biggest Economies, In 2 Graphics : Planet Money. Gross Domestic Product — GDP — may have its limits.

The World's Richest Countries And Biggest Economies, In 2 Graphics : Planet Money

But it's a useful, broad measure for looking at national economies. It's basically the total dollar value of all of the goods and services a country produces in a year. You Didn't Really Think Anything Would Happen To JPMorgan Chase, Did You? Facebook and the 100 Billion. Investors that shoot for IPO allocations needn’t worry that a high stock price overvalues the company if they are confident they can find a ‘greater fool’ willing to pay more.Wall Street Journal, May 21, 2012.

Facebook and the 100 Billion

With cult-like projections, Mark Zuckerberg’s face was beamed across a screen at Hacker Square. Facebook was, after all, having its heralded float as a public company, though the occasion could not cease but be a social event of some magnitude. Colonized by Corporations. May 15, 2012 | Like this article?

Colonized by Corporations

Join our email list: Stay up to date with the latest headlines via email. Exponential Economist Meets Finite Physicist. [slimstat f='count' w='ip' lf='resource contains economist'] views this month; [slimstat f='count' w='ip' lf='strtotime equals 2011-07-01|interval equals -1'] overall Some while back, I found myself sitting next to an accomplished economics professor at a dinner event.

Shortly after pleasantries, I said to him, “economic growth cannot continue indefinitely,” just to see where things would go. Taibbi Calls MF Global Scam 'Straight Up Embezzlement' Using U.S. Dollars, Zimbabwe Finds a Problem - No Change. But these days, Robson Madzumbara spends a lot of time quite literally waiting around for change.

Using U.S. Dollars, Zimbabwe Finds a Problem - No Change

Pocket change, that is. He waits for it at supermarkets, on the bus, at the vegetable stall he runs and just about anywhere he buys or sells anything. “We never have enough change,” he said, manning the vegetable stall he has run for the past two decades. “Change is a big problem in Zimbabwe.” For years, Zimbabwe was infamous for the opposite problem: mind-boggling inflation. A Short History of Neoliberalism (And How We Can Fix It) As a university lecturer I often find that my students take today’s dominant economic ideology – namely, neoliberalism – for granted as natural and inevitable. This is not surprising given that most of them were born in the early 1990s, for neoliberalism is all that they have known.

In the 1980s, Margaret Thatcher had to convince people that there was “no alternative” to neoliberalism. But today this assumption comes ready-made; it’s in the water, part of the common-sense furniture of everyday life, and generally accepted as given by the Right and Left alike. It has not always been this way, however. Neoliberalism has a specific history, and knowing that history is an important antidote to its hegemony, for it shows that the present order is not natural or inevitable, but rather that it is new, that it came from somewhere, and that it was designed by particular people with particular interests. Russians Court Luxury Real Estate With Record-Breaking Sales. The Crisis of Credit Visualized. Living without cash: Does it lead you to spend more or less?

Greece on the breadline: cashless currency takes off. MarketRiders, Betterment, and Personal Capital: Three sites that help you stop investing like an idiot. Noreena Hertz On Co-op Capitalism. Preparing for a post-oil era. China's Second-Richest Man Says ‘Monopoly' State Needs More Entrepreneurs. The Pyramid of Capitalism, 1911. Nouriel Roubini — Jeffrey Sachs. Explaining financial prices. The Myth of the Rational Market. Find the Epicenter of Oil and Gas Industry's Political Influence Deep in the Heart of an Unlikely Texas City.

Gouged at the Pump. War Tax at the Gas Pump. The Friday Podcast: China's Giant Pool Of Money : Planet Money. Oil Price Panic: Seven And A Half Things To Know. What’s Really Pushing Up the Price of Gas? From Cellphones To Cigarettes: The Long Arm Of The Chinese Government : Planet Money. We're A Country. Deal With It. Wikileaks GI Files: Stratfor plotted with Goldman Sachs to set up investment fund. Rove and Hannity's Barely Conceal Glee Over Rising Gas Prices Ignoring Primary Cause. World debt comparison: The global debt clock. The Fossil Fuel Industry’s Conspiracy Exposed. Nanotech tea bag creates safe drinking water instantly, for less than a penny.

Deflation - The Opposite of Inflation. How It Can Grind the Economy to a Halt. Donate a Flock of Chickens This Holiday Season. Food Exports Can Drain Arid Regions. Introducing Simple Tiles: Our New Mapping Library.