nytimes.com - 4/13/2009
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Stockbridge, Mass. PIRACY is the maritime ripple effect of anarchy on land. Somalia is a failed state and has the longest coastline in mainland Africa, so piracy flourishes nearby. The 20th-century French historian Fernand Braudel called piracy a “secondary form of war,” that, like insurgencies ...
The State of Piracy
freakonomics.blogs.nytimes.com 3/16/2009 — The subject of piracy - real pirates, attacking ships on the high seas - has come up more than a few times on this blog, notably with the guest posts of economist/pirate scholar Peter Leeson. His book on the subject, The Invisible Hook, will be ...
Op-Ed Contributor - Rule of Four
nytimes.com 3/1/2009 — WHEN our economic woes began, analysts took some solace that the longest American recession since World War II lasted 16 months, and that on average our recessions lasted less than a year. But as this contraction continues into its 15th month, we have ...
Op-Ed Contributor - The L Curve
nytimes.com 3/1/2009 — LAST year, the debate over how long the recession will last was between those in the consensus who argued that it would be V-shaped only about eight months long like those in 1990 to 1991 and in 2001 and those like me who argued that it would last ...
Op-Ed Contributor - If You Have to Ask...
nytimes.com 3/2/2009 — “WHEN you stop asking,” was the exasperated reply of the broker to the pestering client who asked the same question over and over during the 1974 stock-market crash: When will it end? Nobody knew, or could know. The broker, wiser than he realized, ...
Op-Ed Contributor - A Long Goodbye
nytimes.com 3/1/2009 — THE short answer is not soon. The recession is global: exports, production and consumption are in high-speed descent. The headwinds are powerful because of excessive leverage, damaged balance sheets and the resulting tight credit. Major financial ...
Op-Ed Contributor - It Can’t Last Forever
nytimes.com 3/1/2009 — HERE’S the hard truth: Nobody knows when this recession will end. Economic forecasting is a dark art, and predicting when recessions begin and end is its weakest link. That said, my best guess is that growth will return in the fourth quarter of this ...
Op-Ed Contributor - An Ordinary Crisis
nytimes.com 3/1/2009 — TODAY’S financial crisis is the biggest in recent history, when measured by its speed, the scale of its capital losses or its global reach. Yet viewed from another perspective the crisis is surprisingly ordinary, following the same path as dozens of ...
Op-Ed Contributor - Inflation Nation
nytimes.com 5/4/2009 — Pittsburgh IN the 1970s, with inflation rising, I often described the Federal Reserve as knowing only two speeds: too fast and too slow. At the time, the Fed’s idea was to combat recession by promoting expansion, printing money and making it easier ...
Op-Ed Contributor - Stop the Bailouts
nytimes.com 3/1/2009 — THE fundamental causes of this recession, unique in the experience of the United States, were mortgage defaults and the consequent insolvency of major financial firms. These insolvencies, and especially fear of them, damaged normal credit mechanisms. ...
Op-Ed Contributor: Dear A.I.G., I Quit!
nytimes.com 3/25/2009 — Jake DeSantis, an executive vice president of the American International Group’s financial products unit, sent this letter on Tuesday to Edward M. Liddy, the chief executive of A.I.G. >
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