In the main obituary section of The Wall Street Journal, the editors remembered a Jewish industrialist who failed by modern metrics. His textile mill burned down. When he rebuilt it, he overextended himself and eventually lost control of his mill through bankruptcy proceedings in 2001. Aaron Feuerstein, a former owner of Malden … Read more
They are already calling the current pandemic-induced economic crisis, “The Great Depression of 2020.” The paradigm is, of course, the Great Depression of 1929 that substantially changed the world’s model of development, signaling the onset of State intervention in the economy (the welfare state). Analysts are also calling it “The Great Jump … Read more
Little remains of the vast edifice of family, community and faith relationships that once unified and anchored the American way of life. These things have not disappeared from the horizon. They are still important, but they have deteriorated. There is no more consensus about what they mean, and they no longer serve … Read more