John Kenneth Galbraith

The "investment deficit" -- the rich hoarding rather than investing their money -- is the forgotten lesson of the Great Depression. To jumpstart jobs, we need to remember it.

I spent last week in New York and Washington, speaking with many erstwhile Masters of the Universe and those charged with cleaning up the mess they've created. And in both cities I was stunned by how many Wall Street and political insiders were ready to break out the champagne. Forgive me if I keep the bubbly on the shelf. READ MORE Ending the War on Drugs: The Moment is Now When it comes to addressing America's disastrous war on drugs, the Obama administration is saying the right things. But when it comes to putting its rhetoric into action, the administration has faltered. Is the Obama administration really committed to a fundamental shift in America's approach to drug policy or is this about serving up a kinder, gentler drug war? READ MORE

conomics Nobel Laureate Joseph Stiglitz spoke Friday at a fundraiser for Economists for Peace and Security (EPS), which was created to study the "full costs of war and conflict."

Most of us don't have much of a sense of how systems and institutions and economic laws and cycles operate. We expect rationality in a marketplace driven by panicky irrationality.