Former Lehman Brothers Chief Executive Richard Fuld. Photo by Kevin Lamarque/Reuters The financial world is a theatrical production, abundantly lubricated by that magical elixir of illusionists: confidence by Matt Seybold assistant professor of American literature and Mark Twain Studies at Elmira College in New York. He is co-editor of the forthcoming Routledge Companion to Literature and Economics. His writing has appeared in Mark Twain Annual, T S Eliot Studies Annual, Henry James Review, and Reception. Edited by Marina Benjami On 10 June 2008, Dick Fuld, the soon-to-be infamous CEO of a soon-to-be infamous investment bank, Lehman Brothers in New York, assembled his executive committee in response to a second-quarter earnings report … Continue reading Confidence tricks
image edited by Fernando Kaskais The DNA deal: who should own people’s genetic data, them – or the companies that sequence it? Photograph: Alamy Stock Photo If you have your DNA sequenced, someone somewhere will be making money from the data. A new start-up aims to make sure that you get your share by Zoë Corbyn If you unlock the secrets of your DNA by paying a company to read your genes, behind the scenes it is probably making money by selling on your data for research. Companies like 23andMe and AncestryDNA charge consumers under £150 to learn about their health and/or origins, while … Continue reading How can I make money from my DNA?
(Image credit: Marisa Vitale) by Shifrah Combiths When I saw Elise Blaha Cripe post about a no-shopping year on her Instagram stories, I was intrigued. She linked to this New York Times article by Ann Patchett, who had in turn been inspired to pledge not to shop for a year by a friend of hers. I felt like I was following a chain-linked sisterhood of women who had extricated themselves from the hamster wheel of shopping and I wanted in on it. My interest became a decision: I’m not going to shop for clothes for a year, either. If I’m doing a “challenge” like this, … Continue reading I’m Starting a “No-Shopping-for-Clothes” Year and It’s Healing My Soul
by RANDY It takes more than just a good idea for a startup to succeed. Forbes analyzed 101 failed startups and found that The Top Reason Startups Fail, was the lack of need for their product. Launching a startup takes a lot of preparation and research. Make sure you are fully prepared before starting your own. Down through the years, some startups really struck gold. When Accel Partners invested $14.8 million in a website called “thefacebook.com” back in 2005, they made a return of $5.6 billion – 378 times their original outlay. More often than not, however, startups tend to fail brutally. According … Continue reading Top Reasons Startups Fail
image edited by Fernando Kaskais Money and brains are both quantum phenomena – so it’s not surprising that economics is overdue for a quantum revolution by David Orrell is a writer and mathematician. His research on complex systems has been featured in the Financial Times, BBC radio and New Scientist, and his writing on science and economics has been published in World Finance, Bitcoin Magazine and The New Economy, among others. His latest book is The Money Formula: Dodgy Finance, Pseudo-Science, and How Mathematicians Took Over the Markets (2017), co-written with Paul Wilmott. He lives in Toronto. Edited by Sam Dresser ‘I’m not absolutely certain of my facts,’ wrote P … Continue reading Economics is quantum
image edited by Fernando Kaskais Each era of modernity has reinvented Marx to fit its needs. How can his analysis of capitalism help us today? by Terrell Carver is professor of political theory at the University of Bristol. He has published widely on Marx, Engels and Marxism over many years. His most recent book is Marx (2017), in the Polity Classic Thinkers series. Edited by Nigel Warburton The 21st century has already welcomed back Karl Marx (1818-1883), rather on the assumption that he had faded away and has now returned to haunt us. After the financial crashes of 2008, his leonine face appeared … Continue reading 21st-century Marx
(Photo: John Schnobrich/Unsplash) To much of the outside world, gambling is a vice not worthy of mercy: It is a symptom of recklessness, of compulsiveness, of greed. But compulsive gambling is also an addiction—one that affects some three to four million people in the United States alone. by MAX UFBERG About 10 miles from the shrieking lights of the Las Vegas Strip, the sand-colored Christ the Servant Lutheran Church sits in a nondescript parking lot, on an equally nondescript and equally sand-colored street. The only thing that distinguishes the building from surrounding strip malls and office parks is its shimmering cross. … Continue reading EXPELLING DEMONS IN NEVADA