WSJ On The Micro Finance Bubble In India
Source: “A Global Surge In Tiny Loans Spurs Credit Bubble in a Slum” (subscription required), The Wall Street Journal, August 13, A1
Source: “A Global Surge In Tiny Loans Spurs Credit Bubble in a Slum” (subscription required), The Wall Street Journal, August 13, A1
By contrast, we’ve largely forgotten our most recent brush with raging peacetime inflation, the 1970s. Although nothing like Germany’s in the 1920s, ours was nonetheless powerful enough to be more dispiriting and more transformative of our culture than any stretch…
“This is a private sector effort, involving no government money; so some may ask ‘Why are these government officials here today?’ We are here because we all know that it is in everyone’s interest – homeowner, servicer, investor – to…
But if a doctor repeatedly deemed patients to be healthy that were soon found to have Stage Four cancer that was at least six years in the making, the doctor would be a likely candidate for a malpractice suit. Yet…
What does an M.B.A. do for you that a doctorate in philosophy can’t do better? ……. M.B.A.s have taken obfuscatory jargon—otherwise known as bullshit—to a level that would have made even the Scholastics blanch. – Matthew Stewart, “The Management Myth”,…
My sales from ’88 to ’92 were $10,000 to $13,000 a month, and the cost of goods was only $1,000 to $2,000 a month. Then they started putting out so much product, raising the price on packs and putting chase…
50 years ago today one of the truly great books of the 20th century was published: Ayn Rand’s Atlas Shrugged. The hostility evoked by any mention of Rand’s name is of course a given. But at root Rand’s ideas celebrated…