Rethink.

• Seeds of its own destruc­tion — I am not a fan of  this arti­cle, but there is rel­e­vant infor­ma­tion about how the good times (an increased want to invest) cre­ated these times (lots of debt and insta­bil­ity). I don’t like the arti­cle because I think this whole “let’s talk about ide­ol­ogy and eco­nom­ics” thing is really meh. That hav­ing been said, Mar­tin Wolf comes highly rec­om­mended by many major econ­o­mists, and h/t to Ario for intro­duc­ing me to him.
• John Hempton’s rad­i­cal view of bank­ing — fta: Then he [Buf­fett] says the prob­lem of Amer­i­can banks are not over­whelm­ingly toxic assets.  This is a rad­i­cal view – but it is in my view cor­rect.  The prob­lem with the banks is that nobody will trust them and they have not been able to raise funds.  The view that this is a liq­uid­ity cri­sis – and not a sol­vency cri­sis – has long been a sta­ple of the Bronte Cap­i­tal blog.
• More from Mar­ginal Rev­o­lu­tion, this time on bank nation­al­iza­tion.
• Still more from MR, but this is a h/t to Tyler Cowen: What kind of knowl­edge does one need to reg­u­late, and how does one get that knowl­edge? Blogs pro­vide a hid­den clue, per­haps: how far does the logic of divid­ing things up go?

• Links, 1/14/08
• Links, 12/7/09
• Links, 2/20/10
• Links, 2/24/10
• Links, 6/8/10

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