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Nobody can deny there is something special about Switzerland. Just ask the Swiss. Their sense of exceptionalism is based on being both central to the world and remote from it. The country is situated at the heart of Europe yet is not a member of the European Union. It didn...
So self-aggrandizement became both fashionable and fashion, especially for girls, with everything dropping by inches - necklines and waistlines but not hemlines, which climbed upward until a skirt became little more than a strap. Professional athletes flaunted their immodesty, egos on steroids bashing at the plate and dancing in the...
Over the past decade, though, reality took a detour from Philippon's theory. Corporate America's need for outside financing fell, but the financial sector refused to shrink; it pumped out ever riskier products until the system nearly collapsed. Why the refusal? Maybe the pay was too good. Philippon and...
Until recently, economists had done shockingly little work in this area. "Nobody had looked at the flip side, which is, Can there be costs?" says Thomas Philippon, a young Frenchman who teaches finance at New York University's Stern School of Business. "That is because it's harder to measure...
No general wants to take war to his own people. Kayani was forced to do so by a surge of violence radiating from the South Waziristan headquarters of the Tehrik-i-Taliban Pakistan (TTP), a group of several militant organizations seething with grievances against the state and influenced in part...