Money and Computing
Bernanke: "The crisis should motivate economists to think further about their modeling of human behavior"
"The profound uncertainty associated with the 'unknown unknowns' during the crisis resulted in panicky selling by investors, sharp cuts in payrolls by employers, and significant increases in households' precautionary saving." more »
Farewell to the Feckless Life
For far too long, banks have encouraged abusive use of debit cards, and have pocketed the resulting punitive fees with, I’m sure, big, understanding smiles on their corporate faces. These days, more and more high schools are offering “life skills” classes that teach kids how to make a budget, handle a checking account, read a credit card agreement more »
Elizabeth Warren, "It’s time for all of us to pull up our socks and get to work"
The new consumer bureau is based on a pretty simple idea: people ought to be able to read their credit card and mortgage contracts and know the deal. They shouldn’t learn about an unfair rule or practice only when it bites them — way too late for them to do anything about it. The new law creates a chance to put a tough cop on the beat and provide real accountability and oversight of the consumer credit market. more »
'Unretiring' and Social Security Myths from the Urban Institute
As women's earnings and retirement wealth have increased, they appear more likely now than in the past to make retirement decisions appropriate to their own careers and financial security, instead of following their husbands out of the labor force. more »
