A New Yorker Remembers the World Trade Center

As I quickly walked away, I did not want to look back at its towers, battered and bearing the scars of its evil attackers. I do not want to remember the WTC burning or falling, for that was not its essence.

Country Analysis: China Inches Toward Capitalism

The constitutional protection of property in China is a continuation of reforms I’ve observed following China’s investment environment over the past ten years. Currently, the Chinese economy is a mixture of heavily regulated or government controlled industries, and segments of near anarchy, with competing government factions. For over a decade China has set aside areas […]

In Favor of a War Against Saddam’s Iraq

I’m in favor of war on Iraq because I don’t want to be killed by terrorists who get access to weapons it’s trying to develop. The World Trade Center attack dramatically alerted Americans to the fact that there are some people in the world who want us dead. I was already aware of this before […]

Modern Keynesian Macroeconomics — An Assault on the Human Mind

Nearly half a century ago the popular economist John Maynard Keynes wrote, “Practical men, who believe themselves to be quite exempt from intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.” When […]

Economics of Investing: Hypothesizing about the Efficient Markets Hypothesis

Over the past couple of years, events like the Internet and more recently, the Enron and Global Crossing debacles, have spurred people to reconsider the Efficient Markets Hypothesis, “EMH.” For those unfamiliar with EMH, here’s a brief textbook definition: prices of securities fully reflect available information. Investors should expect to obtain an equilibrium rate of […]

Some Patriotic Economic Advice: Save

Over the last couple of weeks I’ve seen financiers and economists give a lot of misguided advice about what people need to do to help the nation and themselves overcome the terrorist attacks on America. I’m a very patriotic person myself, I don’t just wave flags on Independence Day, I actually read and understand the […]

A New Yorker Remembers the World Trade Center

“That particular sense of sacred rapture men say they experience in contemplating nature- I’ve never received it from nature, only from. Buildings, Skyscrapers. I would give the greatest sunset in the world for one sight of New York’s skyline. The shapes and the thought that made them. The sky over New York and the will […]

Devaluation is Not the Answer

In the past few months, I’ve noticed a disturbing shift in attitude towards currency devaluation. An increasing number of economists and journalists are making comments approving currency devaluation as a way to boost economies and “gain competitiveness.” Some analysts, like The New York Times‘ Paul Krugman, have been recommending devaluation around the world for years, […]

Richard Li: Hong Kong’s Destructive Prince of Political Pull

One of Hong Kong’s largest, and most enduring business institutions has been laid low by a reckless brat from one of Hong Kong’s most powerful families. About a year ago, Richard Li acquired Hong Kong Telecom, and proceeded to destroy over US$20 billion of Hong Kong Telecom’s stock market value. Since its acquisition, its shares […]

Conference Report: NYU’s “ASIA: Restructuring in Action”

Last week I attended a full-day business conference “ASIA: Restructuring in Action,” at NYU’s Stern School of Business. There, professors and industry experts met to discuss how post-crisis Asia was progressing. We discussed macroeconomic trends, the restructuring of the Asian banking sector, and the economic effects of new technologies. The conference reflected “conventional wisdom” within […]

The Australian Dollar is Down Under

The Australian Dollar, while recently sinking to 19-year lows, doesn’t seem to have gotten a lot of attention. In fact, the currency has never had the sort of impact on global currency markets as the Yen, the Euro, or the Pound, and even currencies like Brazil’s Real have taken a lot more of the limelight […]