With great wealth comes great volatility

Economist Jamie Galbraith has a cool little piece in the current issue of Mother Jones (link via Brad DeLong) about income inequality not between individuals but between counties. Galbraith ends up using county income data to make pretty much the same point as I did in my column a few weeks ago: That the counties [...]

Warren Buffett on the newspaper business

Having failed to read Warren Buffett’s annual letter to Berkshire Hathaway shareholders the moment it went up online last week (horrors!), I only just learned–thanks to Frank Ahrens in the Washington Post (link via Romenesko)–that Buffett had some interesting things to say about the state of American metropolitan daily newspapers. They were similar to what [...]