The Link Between Wealth and Work

The Link Between Wealth and Work

By The Banker | Blog Posts

I’ve been struggling for a while now on defining what I think ‘being wealthy’ means. So far what I’ve come up with is that ‘being wealthy’ has something to do with embracing two realities we tend to want to avoid: work, and death. I’ll talk about death later, but for today I think that one [&hellip

Why Wealth Inequality Matters - Plus CEO Pay Again

Why Wealth Inequality Matters – Plus CEO Pay Again

By The Banker | Blog Posts, Inequality, Texas

Last week I wrote about the sharp rise in super-manager pay throughout the 1990s, and specifically a funny (to me) quirk of stock option awards and bad math by corporate boards. The good news is I have a bunch more thoughts on the rise of super-manager pay and – but wait – Wait — WAIT! [&hellip

Book Review: Being Mortal - Medicine and What Matters In The End, by Atul Gawunde

Book Review: Being Mortal – Medicine and What Matters In The End, by Atul Gawunde

By The Banker | Book Reviews

I have a theory: The definition of ‘being wealthy’ links in some way to thinking about, and being cognizant of, death. Death Death of course gives me the willies. I actually get vertigo if I think about it in bed just before falling asleep. I suddenly feel wide awake and unsettled. The whole thing feels [&hellip

CEO Pay-Rise: A Silly Math Mistake

CEO Pay-Rise: A Silly Math Mistake

By The Banker | Blog Posts, Texas

An economics paper published last month in the National Bureau of Economic Research really fascinates me. Maybe that’s because I’m a fundamentally boring person? No, that’s not the main point. Economists Kelly Shue and Richard Townsend set out to explain the sharp rise of executive pay in the ten-year period 1992 to 2001. Think of [&hellip

Book Review: Capital In The Twenty-first Century by Thomas Piketty

Book Review: Capital In The Twenty-first Century by Thomas Piketty

By The Banker | Book Reviews, Inequality, Taxes, Wall Street

Once in a while I read a book and think “That! That is the one that will determine my definitive worldview on a subject.” This happened when I read Paul Kennedy’s The Rise and Fall of the Great Powers twenty-five years ago, and nothing has shaken my belief in Kennedy’s thesis.[1] Thomas Piketty’s Capital in [&hellip