The Market Now

Economics


A deluge of cut-rate paperbacks in the electronic age.

Photographer: Marco Cristofori/Getty Images

A deluge of cut-rate paperbacks in the electronic age.

What Happens When People Stop Buying Books They Don’t Read?

Imagine media content, in all its forms, as a carnival shooting range, and the Internet as an air rifle filled with unlimited ammunition. Boom, pow! First the music business duckie falls over. Yaarsh! The movie duck is grazed, keeps moving.

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18th Century Aristocracy

Michel Barthelemy Olivier, "Thé a l'Anglaise" via Getty Images

The great aristocratic fortunes of the 21st century rival those of Louis XV. And beheading is rarer.

If Capital Grows This Fast, How Come Fortunes Disappear?

Thomas Piketty presents a theory of capital accumulation with some awfully optimistic investment assumptions. A lot of heirs believe their inherited wealth will last forever; a fair number of them end up broke.

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Universities' ivy-covered walls don't offer much protection from the pressures of the global economy.

Photographer: Barry Winiker/Getty Images

Universities' ivy-covered walls don't offer much protection from the pressures of the global economy.

Advanced Degrees Won’t Keep Your Pay From Falling

A common bromide about today's economy is that it rewards those with educational credentials, while pummeling folks without degrees. Cue the usual tropes of the once high-paying factory jobs that have disappeared. Now look at the chart here.

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Outside the Argentine Congress, the image of Che Guevara, a less than optimal economic thinker.

Photograph by Diego Giudice/Bloomberg

Outside the Argentine Congress, the image of Che Guevara, a less than optimal economic thinker.

The Argentine Curse Strikes Again

Argentines are finding ever more ingenious ways of avoiding currency controls. The Porsche arbitrage is the latest. Alas, this is how economic ruin works: it starts as farce, ends up as tragedy.

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