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1) Break up institutions that are too big to fail so that we can allow them to fail. I don't know exactly how to do this - does anyone? - but that's how we solve the problem of letting the small fry fail while saving the wounded whales. Perhaps, as...

Author: /time Magazine | Title: What's Still Wrong with Wall Street | 10/29/2009 | See Source »

4) And for heaven's sake, don't put your faith in Wall Street. Never, ever. Left to its own devices, the Street will go to excess, as we've seen from two bubbles (tech stocks and houses) that have burst within the past decade and two more that are...

Author: /time Magazine | Title: What's Still Wrong with Wall Street | 10/29/2009 | See Source »

A key finding is that societies of hunter-gatherers tend to be more economically egalitarian than those of farmers and herders because of how parents do - or don't - transfer wealth to their children. Among hunter-gatherers, a child born into the top 10% of richest families is three times...

Author: /time Magazine | Title: Information Economy May Shrink the Rich-Poor Gap | 10/29/2009 | See Source »

That's not because hunter-gatherers don't pass on wealth to their children. They do. Parents who know where to dig for the most nutritious tubers or how best to hunt elk will pass along that knowledge-based wealth to their kids. The difference is, that advantage is harder...

Author: /time Magazine | Title: Information Economy May Shrink the Rich-Poor Gap | 10/29/2009 | See Source »

In other words, you don't want to be in the business of manufacturing clothes - you want to be in the business of designing them. "Our economy is different in a thousand ways from the hunter-gatherer societies we studied, but they may be similar in one critical way," says...

Author: /time Magazine | Title: Information Economy May Shrink the Rich-Poor Gap | 10/29/2009 | See Source »

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