Word: capitalisme
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France has long liked to see itself as the other, non-American model for organizing a modern economy, with a rich tradition of exalting the state and disdaining "Anglo-Saxon"-style capitalism. So it would be completely de rigueur for the French to smile smugly over Washington's French-style...
If there were a real choice for Bernanke and Paulson, no one has been brave enough to voice it. Yet, in a matter of hours, several prominent thinkers rushed to deem the bailout the abandonment of classical economic theories about free market capitalism, as well as the expiration date of...
Obama has called for increased regulation, which seems like a no-brainer, but he hasn't articulated many specifics. Meanwhile, McCain has talked about ending "wild speculation" and railed against Wall Street greed. Well, duh. Know anyone who is in favor of naked greed? Whoever wins will face a massive...
Because of the city's previous incarnation as a center of global capitalism, the Shanghainese today ranks as China's most ardent conspicuous consumers, equally voracious when buying local or global. Nevertheless, given the somber economic mood worldwide, Shanghai has tried to reign in the excess a bit. October's...
In other words, this craziness isn't likely to end soon. The fact that markets kept functioning pretty smoothly Monday marked something of a minor triumph for American financial capitalism. But it was just one day.