Beware of Bitcoin

Believe it or not, I’m going to trash Bitcoin on spiritual grounds. Is there no limit to my irreverence? Most people know almost nothing about bitcoin and the bewildering array of cryptocurrencies that are swirling around it now. Even for computer nerds like me, it’s a serious struggle to get a handle on it, and… Continue reading Beware of Bitcoin

Moral Protest

My good friend Eric Parsons, challenged me on a poster I put up on Facebook. It read as follows: “The moral crisis of or age has nothing to do with gay marriage or abortion; it’s insider trading, obscene CEO pay, wage theft from ordinary workers, Wall Street’s continued gambling addiction, corporate payoffs to friendly politicians… Continue reading Moral Protest

The Breathtaking Immorality of our Beloved Capitalism

Maybe some readers have seen The Big Short. It’s a movie about the financial crash of 2008 — showing how most weren’t clever enough to see that the financial system was being gamed, and how those who were clever enough got rich. It’s a good movie to show, exposing the barely-legal shenanigans (only legal because… Continue reading The Breathtaking Immorality of our Beloved Capitalism

The Austerity Racket

They always spell “austerity” wrong. It should be spelled “extortion”. When financial barons bully the government into submission, they call it “austerity”. When the mafia bully the corner grocery store into submission, it’s called a “protection racket”. You know the story. “Wouldn’t it be a shame if your nice little store got too close to… Continue reading The Austerity Racket

Standing Rock: A Pipeline Too Many

How many oil pipelines do we need? Answer — less than we already have. So let’s stop here and look at the science. Analysts have settled on a figure — a bottom line re environmental warming. Ecological disaster can be avoided if we keep the future global temperature rise down to 1.5 degrees. That may… Continue reading Standing Rock: A Pipeline Too Many

Elinor and the Fake Tragedy

You’ll find few prominent woman economists. It’s an Old Boys’ Club from way back. You’ll find even fewer female economists winning the Nobel Prize in Economics — like none. None until Elinor Ostrim, that is, in 2009. But she was no ordinary economist. She took on the old boys right where it hurt. She debunked… Continue reading Elinor and the Fake Tragedy