When a city is forced to spend more on Wall Street fees than on basic public services, it is the sign of trouble. When that city is one of America's biggest population centers, it is the sign of a burgeoning crisis.

In F. Scott Fitzgerald’s The Great Gatsby, East Egg represents inherited wealth and privilege, while West Egg represents wealth earned through innovation and hard work, a distinction at the core of the American ideal. We have always embraced a dynamic capitalism, marked not by stasis but rather

Thomas Piketty’s wildly popular new book, “ Capital in the 21st Century ,” has been subject to more think pieces than the final episode of “Breaking Bad.” Progressives are celebrating the book — a

Here's a quick question about your retirement savings: When was the last time you checked the fees on your 401(k)? If you're like most Americans, chances are you're not sure what exactly your plan is charging you. Even though employers are now required to disclose more information about 401(k) fees

Michael Lewis’ new book, “Flash Boys,” relates a real-life techno thriller in which a trader who identifies and ultimately thwarts a scheme deployed by piratical “High Frequency Traders” to squeeze a relatively small amount out of many stock transactions being executed electronically. As our hero’s

High-frequency trading (or “HFT”) is suddenly the financial market scandal of the day. Michael Lewis has published a book that was featured on Sunday in a 60 Minutes report and in a story in the New York Times Magazine. HFT is the use of high-powered computers, blazing fast connections with

For decades, rapid economic growth has been the norm for developed countries. An educated workforce, a large population boom, major technological advances, and abundant fossil fuels were the key components of growth, generating substantial and broadly distributed increases in standards of living in

White flight, corporate flight . . . I grew up just outside Detroit and have felt an ache in my heart for this bleeding city for so many years now. It's long been one of the country's designated loser cities, beginning in the 1960s, when change hit it hard. The phrase at the time was "urban blight,"

Through the Procurement Act, Congress centralized management of government contracts and gave the president license to use his judgment in setting federal contracting practices.

The Genuine Progress Indicator (GPI) includes 26 indicators to give a broader picture of the sustainability of growth. It is a better measure than GDP.