The American economy is in a state of malaise. Stock and real estate prices have plummeted from their peaks in recent years, people have collectively lost trillions of dollars, major companies have gone bankrupt, and unemployment numbers remain high. Undoubtedly, many students are lying awake
China, a country of over one billion people with arguably the world’s fastest growing economy, presents an attractive investment opportunity for many Western companies. However, doing business under China’s totalitarian regime comes at a price. For Google, the world’s largest search firm, this meant bowing
Business schools fail their students by emphasizing altruism rather than the virtues of wealth-creation.
With the global economy in tatters, trillions of dollars in wealth destroyed, once mighty corporations bankrupted, and levels of unemployment unseen in decades, much public opprobrium has been leveled at the financiers
Capitalism is in crisis, claims Richard Posner on the pages of the Wall Street Journal today. This crisis happened, he says, because “a capitalist economy, while immensely dynamic and productive, is not inherently stable.” Furthermore, he suggests that “the banking crash might not have occurred
Last week, a Wall Street Journal op-ed screamed “Arrest Michael Phelps!” and a sheriff in South Carolina threatened to prosecute the famed Olympic swimmer. Commentators across news and radio stations added their voices to the hysteria. The reason behind the calls for Mr. Phelps’s head?
Since August, Zimbabwe has suffered from a cholera outbreak that to date has killed 3,000 people and infected nearly 60,000 more. In the Western world, cholera outbreaks are rare thanks to the implementation of proper sanitation standards, including water purification and sewage treatment. In fact,
Ailing automaker Chrysler LLC has entered into an agreement with Italian carmaker Fiat SpA. The deal would involve an exchange of technology and access to distribution networks, giving Fiat a 35% stake in Chrysler without it having to pay a single euro. However, the deal
The once stalwart US auto industry has been brought to its knees. A plethora of problems, including poor management decisions and crippling labor laws, have virtually wiped out shareholder value and corporate profitability, endangering thousands of jobs and retiree pension benefits. The executives of the
In 2007, Whole Foods, the popular purveyor of natural foods, sought to expand its business by acquiring rival grocer Wild Oats. However, the Federal Trade Commission claimed that the merger would violate antitrust laws by creating a natural foods monopoly. Although federal judges approved the
Thirty years ago, George and Sharlee McNamee purchased a beachfront house in California, hoping to create a home in which to spend their retirement. Over the years, the McNamee’s made various improvements to their beach property, installing picnic tables for entertaining and a shade to