EconAir

Russian T-72 Tank Seen in Ukraine   HISTORICAL BACKGROUND Most of what is now Ukraine came under Russian control in the 1700s, due to the expansionist policies of Catherine the Great.   Part of western Ukraine (Galicia) was a province of the Austro-Hungarian Empire.   With the collapse of the Romanov regime in 1917 and Austria-Hungary in 1918, Ukrainians attempted to establish an independent republic.   During the Russian Civil War, Ukrainian nationalist groups fought on the side of the Communist Red Army because they knew that if the monarchy were reestablished, Ukraine would be forced back into the Russian Empire.   Their hopes for independence were crushed as the triumphant Communist regime absorbed Ukraine into the Soviet Union. Ukrainians suffered under the Stalinist regime.   Because the Ukraine was the “bread basket” of the Soviet Union, grain and other crops were systematically confiscated by the Communist government to feed in...

William Gibson: Neuromancer (I wrote this in 2008 as a memo in response to an adult student’s question about what I thought of the book Fifth Discipline.  While still somewhat unrealistic - organizations are still run by managers who lack the self-confidence to ask others for advice and ideas - I think the current trends of quicker reaction to change, recognition of "high value-added employees," and more sophisticated IT software are moving organizations in this direction. At least the good ones.) I'm glad you read Fifth Discipline , even though it's rather dense.   Many of the ideas in the book are now the starting points for a lot of writing on management.   I believe that the best way for organizations to achieve superior performance and survive in the long run is to be adaptive, to be a "learning organization."   This means that everyone in the organization is encouraged (and rewarded) to come up with new ideas and methods. ...

Janet in Wonderland Anyone who believes that financial markets are rational is not looking at the current government bond markets.    The U.S. 10-year government bond is paying around 2.5%.    Believe it or not, the 10-year Spanish government bond is paying less.   The German 10-year government bond is paying a little over 1%, less than a 2-year U.S. bond. If you were not a finance major, skip this paragraph.   The yield curve is incredibly flat.   It is only this way because the Fed hasn’t realized yet the Great Recession has been over for five years.   More sinister explanations rely on conspiracy theories.   When given the choice, I always go with stupidity. According to CNBC (yes, I’m still addicted to my financial soap opera), the interest rates on German and Spanish 10-year bonds are at a 200-year low.   I don’t know how they know that.   Germany didn’t exist 200 years ago but Prussian war bonds probably did. ...