Living abroad

We have dear friends who are planning to move abroad for a while. I am hoping that a reader of this blog might know of a website or a service that provides advice to Americans planning to live overseas. They notice, for instance, that their bank will not allow scheduled wire transfers. So, how do they ensure a regular source of income while living in a foreign country? Any advice for them would be much appreciated.

Equal opportunity

I was chatting to a young relative recently about politics and economics and felt inspired, as a result, to try to gather my views into one coherent whole — not that my views are necessarily coherent! I realized as I began to gather my thoughts that I am an idealist at heart. I have a vision in my head of how things “ought” to be and my politics and beliefs about appropriate economics flow from that vision. I think I can sum up my ideals in one small phrase: equal opportunity. I believe at some deep level that everyone is entitled to an equal start in life. Most of my politics flow from that simple, yet profound, vision. I shall try in subsequent posts to embroider on where that vision takes me.

Insider Trading

Andrew Ross Sorkin has a startling and rather depressing article in this morning’s New York Times, discussing the disturbing prevalence of insider trading. This prevalence was revealed in a study by three professors, Menachem Brenner and Marti G. Subrahmanyam at N.Y.U. and Patrick Augustin at McGill. The comments on the article make interesting reading: Almost to a person (actually to a man), they say: “What’s new? Everyone knows the stock market is crooked.” And that’s even more depressing.


I am an avid reader of New Scientist and was caught by their recent article on the problems with paracetamol known to us Americans as acetaminophen or more commonly by its brand name Tylenol. The article is entitled What’s wrong with the world’s favorite painkiller?. The answer it turns out is a lot! Apparently in the United States some 80,000 people each year visit emergency rooms because of poisoning from “Tylenol” and some 16,500 people with arthritis die each year from this supposed painkiller and its related forms. Taken over a period of time it can apparently cause internal bleeding and severe liver problems. To make matters worse research studies show that it is only marginally better than a placebo. Who knew?!


One of the problems with blogging is that one throws out a thought on a particular day only to see it vanish under a cloud of thoughts as day succeeds day. So, I am going to experiment with keeping my blogs on my website In future, I will offer thoughts on this blog but link them to my website.

Accounting for the West Explosion

Time to pull out a posting from two years ago — nothing changes sometimes. In that old posting, I tell how I used to rant to my accounting students about the stupidity of government accounting, which fails to distinguish spending on today versus spending on tomorrow. We call the latter investing and it is what we do to make tomorrow possible. Sound investments pay for themselves by making a better future. So now in 2014 comes another example of silly decision making.

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Why educate?

Why do we bother to educate our young? Or put alternatively, why do our young bother to get educated? The discussion revolving around the Supreme Court’s decision on affirmative action at the University of Michigan seems to muddle those two questions. Do we, as a society, have an interest in educating our young? Or is education a purely private affair? More sharply put, is education all about “me” or is it about “us.” Those who oppose affirmative action seem to be arguing that “I” am being denied an education because someone else was given preference over me; those who favor affirmative action seem to be suggesting that society has an interest in how people are educated. Continue reading

America falls behind

The New York Times has a fascinating article titled “The American Middle Class Is No Longer the World’s Richest.( It points out that average per capita income in the United States continues to lead the world but that average conceals the fact that the rich have become very much richer while the rest of the country has become poorer. Both the middle class and the poor have fallen behind compared to similar groups in other countries such as Canada.

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