Home The Danger of Financial Jargon - The New Yorker The most important mystery of ancient Egypt concerned the annual inundation of the Nile floodplain. The calendar was divided into three seasons linked to the river and the agricultural cycle it determined: akhet, or the inundation; peret, the growing season; and shemu, the harvest. The size of the harvest depended on the size of the flood: too little water, and there would be famine; too much, and there would be catastrophe; just the right amount, and the whole country would bloom and prosper. Every detail of Egyptian life was shaped by the flood. Even the tax system was based on the level of the water, which dictated how successful farmers would be in the subsequent season. But the priests were cheating, because they had something else, too: Nilometers. The world is full of priesthoods. Sometimes the language of finance really is obscure, and does hide the truth. The language of money works like that, too. Many people don’t have that advantage. A hedge is a physical thing.
Paul Krugman Paul Krugman joined The New York Times in 1999 as a columnist on the Op-Ed Page and continues as professor of Economics and International Affairs at Princeton University. Mr. Krugman received his B.A. from Yale University in 1974 and his Ph.D. from MIT in 1977. He has taught at Yale, MIT and Stanford. At MIT he became the Ford International Professor of Economics. Mr. At the same time, Mr. MoneySense Fashiontoast | NOWMANIFEST.com Rough Type: Nicholas Carr's Blog 16 free online business classes that are actually worth your time Platform: Coursera Length/start date: Runs ten weeks, and started September 15 Time commitment/prerequisites: Six to eight hours a week, and no background in the area required. Why you should take it: Learning the basics of accounting and how to read a balance sheet, income statement, and cash flow is incredibly useful for just about anybody. As the professor puts it, accounting is “the language of business.” The course is also offered by one of the most prestigious business schools in the country, and taught by one of Wharton’s senior and most highly regarded faculty members, Brian Bushee, a 13-year veteran of Wharton and former Harvard Business School professor. “You will not only better understand what people in the business media are talking about,” the course description says, “you will also be able to notice when they don’t know what they are talking about!”
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