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Felix Salmon Headlines

Post Felix

Today is Felix’s last day at Reuters. Counterparties may have been the brainchild of Felix and the recently departed Ryan McCarthy, but the blog, site, newsletter, and Twitter feed will continue to exist in their absence. It will be run by Ben Walsh and Shane Ferro, with some non-trivial amount of snark.

The Piketty pessimist

Her syllogism runs something like this: -Capitalism has survived this far because it delivered strong, widely-shared growth. -If capitalism fails to continue to deliver strong, widely-shared growth, then it will fail and die. -Thanks in part to Piketty, the leaders of the major western democracies — both the politicians and the plutocrats — now understand this. -Therefore, they will, of necessity and of self-interest, alter the structure of society to preserve (what’s left of) the middle classe

The most expensive lottery ticket in the world

The real winners are the happy and well-paid engineers, enjoying their lives and their youth while working for great companies like Google. In the world of startups, the only winning move is not to play.

The problems of HFT, Joe Stiglitz edition

The most interesting and provocative thing to be written of late about financial innovation in general, and high-frequency trading in particular, comes from Joe Stiglitz.

Private equity math, Nuveen edition

If Madison Dearborn really is breaking even on this deal, that only goes to show the enormous disconnect between the economics of private equity companies — the wealthy rentiers of society — versus the economics of the real-world companies they buy and sell.

The utility of switching lanes

If you look at subjective rather than objective measures, I'm pretty sure that all our lane switching will turn out to have a useful purpose after all: it makes us feel as though we're in control of our own destiny.

Wonkonomics

Klein had the right idea: do something at arm's length first, and then let the technology and ethos trickle back to the mothership. Because if you try to build something new within the mothership, it's often liable to get suffocated.

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