Monthly Archives: November 2011

Unfortunately, in Greece statistics is a combat sport

The Financial Times reports that Andreas Georgiou, the head of the independent Greek statistical agency Elstat, is facing a criminal investigation for allegedly inflating the scale of the country’s fiscal crisis and “acting against the Greek national interest.” Georgiou, who … Continue reading

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Where will the new capital come from?

Writing in Thursday’s Financial Times, Pimco chief executive and chief investment officer Mohamed El-Erian argues that Europe’s first order of business should be to recapitalize its banks. It is hard to argue with this prescription.  With the finances of Greece, … Continue reading

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Glenn Hubbard ignores some inconvenient facts

Writing in today’s Wall Street Journal about how to reduce government spending, Columbia University economist and former chairman of George W. Bush’s Council of Economic Advisors R. Glenn Hubbard chooses to disregard some important facts. According to Hubbard, “President Obama’s … Continue reading

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Great minds think alike

Apparently, the Economist agrees with my emphasis on the rise of technocracy.

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Send in the technocrats!

Winston Churchill said that democracy is the worst form of government except all those other forms that have been tried. The financial crisis has tested Churchill’s assertion. In Greece, the austerity measures imposed on the country by the EU and … Continue reading

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Penny wise and pound foolish

The institutions of government and the politicians who run them have–rightly–been criticized for many mistakes during the past few years.   The Congressional budget deadlock this past summer is a case in point.  The mismanagement at Walter Reed Army Medical Center, … Continue reading

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