Weekend Reading

There’s my Chippy!

Here are a few long reads that I particularly liked. They’re not necessarily news anymore. Thanks to all the readers that shared these articles with me.

Michael Lewis (Moneyball, Liars Poker, etc.) on the shady dealings in bailout of Irish banks and Ireland itself: When Irish Eyes Are Crying.

Matthew Stoller on the unintended consequences of privatization of the prision system: Who Wants to Keep the War on Drugs Going AND Put You in Debtor’s Prison?

The Economist on why austerity and growth have not gone together: Cut or Loose.

Elizabeth Warren before the stimulus on why household debt would prevent it from working: Same Solutions, Different Problems.

You may think you know better, but everyone thinks that. Someone has to be wrong: The Illusion of Asymmetric Insight.

The case against prescription drugs for treating depression and other disorders: The Epidemic of Mental Illness: Why?

10 moments showing how out-of-touch our aristocracy really is:  The New “Let Them Eat Cake!”

Comics – Irwin Schiff, imprisoned tax dissenter and father of broker/Senate candidate Peter Schiff, gives his account of How an Economy Grows and Why It Doesn’t.

  • Jane O’Donnell

    Thanks for posting these! I just read the one by Elizabeth Warren. Her post about America’s debt problem is painfully clear and I think that it’s ridiculous that more people aren’t bringing up this point today. Why do we think we can solve a debt problem with more spending? Our solutions to economic problems seem very at odds today; on the one hand it’s good that Americans are cutting back and learning to make the most of what little income they have, while on the other hand, with everyone cutting back their spending, many industries are suffering from sharp declines in demand. If you ask me, I think an overall decline will be good for the long term, since the growth thus far has been theoretically fueled by money the spenders don’t actually have. I think some industries need to shrink (like ones that favor the rich and bad employee standards) while others need a lot of growth like small businesses and co-ops.

    • http://thermm.wordpress.com Ryan Michael Murphy

      I agree, and I’ll have a complete answer for you shortly.