Tag
Finance
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Diaspora, Indebted: On “Industry”
“Gambling with big bets against challenging odds, regarded warily by moneylenders, questioned about your ability to balance your books, needing to take on more debt to pay back older debt. Whom exactly are we talking about here: Rishi or Britain?”
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The Alchemy of Finance
For a few years in the late 1990s, the myth of a New Economy was everywhere. The old economy, with its pesky booms and busts, was a thing of the past, replaced by a new era of infinite prosperity powered by globalization, the Internet, and—most of all—the stock market. Lured on by the promise of…
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The Rise of Finance
In a February 2011 interview, the United States Treasury secretary insisted that the future of the American economy depends upon the continued growth of its financial sector. “I don’t have any enthusiasm,” said Timothy Geithner, for “trying to shrink the relative importance of the financial system in our economy as a test of reform, because…
