Word: toughs
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...other argument against excess regulation is that if the capital markets are prevented from efficiently trading and creating capital, then they do not really exist as capital markets any more. With the economy in such tough shape discouraging traders from creating liquid markets or the credit default swaps market from efficiently insuring risk may do more to hurt a system that is trying to build new capital more than it helps...
...That's a tough decision to make for bureaucrats, is it not? For many difficult questions, we capture public preferences by our citizens council, a representative sample drawn from the general public. For example, we asked if should we give greater priority to children than the elderly. The group decided that a year of life was worth just as much when you are a grandparent as when you are a child. That is very culturally specific and might not apply to other countries in the world...
They knew it wouldn’t be easy. No matter how tough the competition, though, going 1-7 on a road trip never feels good...
...stay up to watch a six-overtime game because "I've got work to do.") Every time he forces himself to say, "I'm as angry as anybody about those bonuses," it sounds clearer that he's not as angry as anybody. And he may actually do better in tough Q&As, like his press conferences, than in soft ones like Leno's. He gaffes more when he feels he's on friendly turf. (See his flub about "bitter" small-town Americans at a fundraiser in the primaries...
...Which raises the question, one that trade economists have to answer every 10 years or so: If protectionism is so ruinous, why does everyone reach for it in tough times? To answer that, you have to go back to why trade is good for you. The idea that an exchange of what you have for what I have makes both of us better off must be as old as the first moment anyone swapped cowrie shells for some cooked fish. Organized trade is ancient: silk did not get to Rome because the Romans figured out sericulture; someone imported it from...