Question/Comment: Could you explain where all the money went that supposedly vanished during the Wall Street meltdown? Who has it? Was it imaginary or did it really exist? Paul Solman: All Wall Street values are imaginary. All money is imaginary. … Continue reading
Question/Comment: Dear Mr. Solman, Is there an “economic event”, or re-discovery of economic history that can impact the incredible ideological stranglehold on the economics “profession?” In my opinion we have sacrificed rigorous econometrics on the altar of existence theorems, Diophantine … Continue reading
Congress questioned federal regulators during a hearing Monday about why so many warning signs surrounding the business dealings of Wall Street investor Bernard Madoff went unnoticed. New York Times reporter Alex Berenson details the latest developments. Continue reading
- Can You Explain Why Our Economy Seems to Only Work As Long As We Buy Lots of Cars and Other Consumer Goods?
Question/Comment: Can you help me understand why our economy seems to work only as long as we buy lots of cars and other consumer goods, some of which aren’t really necessities? Isn’t there some other way, at least in theory, … Continue reading
The economy experienced an extraordinary year of volatility in 2008 with the collapse of major financial firms and huge market losses. Financial writers discuss the year’s significance and the road ahead in 2009. Continue reading