Word: inflationitis
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Musharraf, for his part, has not been all bad for Pakistan. The economy is growing at a rapid clip, new infrastructure projects have brought roads, water and electricity to remote areas, and the arts and media are freer than they have been in a long while. But it's a...
After publishing a best-selling critique of the stock bubble, Irrational Exuberance, just as the market peaked in March 2000, Shiller set to work adding a chapter on real estate for the second edition. As part of that effort, he cobbled together an inflation-adjusted index of home prices going...
In the wake of the summer’s subprime mortgage meltdown, Harvard economists are divided on the course of action Federal Reserve Chair Ben S. Bernanke ’75 should take at the Fed’s upcoming policy meeting. Subprime mortgages—loans which banks make...
Are the Iraqis to blame? Everyone is to blame. The U.S. marched blindly into Iraq, dreaming of Arab democracy, only to create a sinkhole of regional instability. In a pair of epic fiascos, Donald Rumsfeld, Defense Secretary at the time, okayed an invasion force that was probably too small by...
The economic front is no better. Roughly 90% of the population lives near or below the poverty line, even though Burma is blessed with lucrative resources like natural gas and timber. The country's generals are hardly known for their financial savvy: one former regime chief denominated bank notes by...