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At the core of the current financial crisis has been the widely held assumption that markets behave rationally. Fox, Time magazine editor-at-large, isn't the first to bring scrutiny—or censure—to the conceit, but his analysis is singularly compelling, and the rare business history that reads like a thriller. Fox leads us on a chronological journey of modern economic theory, featuring the cast of scholars who constructed the 20th- and 21st-century financial landscape, from Irving Fisher to such post-WWII figures as Milton Friedman, Harry Markowitz, Franco Modigliani and Merton Miller, Jack Treynor and William Sharpe. Fox offers a behind-the-scenes glimpse at academia's finest, complete with amusing anecdotes about the players and their theories, and illustrates how our economic behaviors and markets have been shaped by a gradually refined theory holding that the stock market prices are both random and perfectly rational. A must-read for anyone interested in the markets, our economy or government, this dense but spellbinding work brings modern finance and economics to life.
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The media are making all kinds of noise lately to the effect that electric cars are coming, that they’re going to help us kick our imported-oil habit, and that you’ll be able to drive them for pennies a day.A company that can develop a non-petroleum-fueled car palatable to the masses stands to make a pretty good buck. That’s why GM will shell out some undisclosed number of billions on electric vehicle development during the next five or so years. It’s a tall order, but GM is already well on the way to pulling it off. Whether the buyers will be there, however, is a question GM is still struggling to answer. A study commissioned by Gulf & Western predicts that we’ll have something like 34 million EVs - about one quarter of the national fleet - on the road by the year 2000. GM ... has publicly committed itself to mass-producing electric cars by the mid-to-late 1980s – probably 100,000 per year or more.Sound familiar?? This isn't the first time the auto industry has promised us greener, electric powered cars. Pressure must stay on the automotive industry, or again the promises might not be followed through.
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Jamie Lynn Spears, 16-year-old baby sister of Britney Spears, told OK! Magazine during an interview that she is pregnant, TMZ.com reports.That's great.... it's still not news. This is gossip and magazine fodder. It does NOT have any place in an actual newscast, news website, news program. There are many more important things going on in the world that this time and space should be used for. Iran, Kosovo, AIDS in Africa, Iraq, imminent government shutdown over budget fight, CIA tape destroying, and Turkey in Iraq are all things I thought of in under 10 seconds that deserve more attention than this. Let alone things NOT being covered because it doesn't fit in the corporate media's budget. Just one link
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Site last updated February 10, 2012 @ 5:34 am