Adam Davidson

Perhaps concentrated wealth will inspire a nation of innovative problem-solvers. But if the view of many economists is right - that it sometimes discourages innovation - then we should worry. ”

The Internet is, among other things, a massive, chaotic marketplace. Too much information, it turns out, is a lot like no information. ”

Hating Wall Street is an American tradition that dates back even to the days when Thomas Jefferson cursed that money lover Alexander Hamilton. And for centuries, the complaints about it have largely stayed the same: 'It does nothing! It creates chaos! It's a parasite that sucks hardworking Americans dry!' ”

Unlike physics, economists don't settle things. There seems to be plenty of room for different conclusions that are still accepted in the academy. ”

If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history. ”

Economics is all about consumption. People either spend money now or they use financial instruments - like bonds, stocks and savings accounts - so they can spend more later. ”

What there is no dispute about is whether or not China is a currency manipulator. They are a currency manipulator. They actively intervene every single day to keep the value of their currency less than it would be against the dollar than if it floated freely. We think. Even China barely disputes that. ”

Art is often valuable precisely because it isn't a sensible way to make money. ”

When you see a merger between two giants in a declining industry, it can look like the financial version of a couple having a baby to save a marriage. ”

Like a bottle of wine or a promising college quarterback turning pro, C.E.O.'s are similar to what economists call experience goods: you commit to a price long before you know if they're worth it. ”