Finance as magic. Worthwhile Canadian Initiative. A description of what finance does. Wonderment.
Wikibollocks: The Shirky Rules. A great takedown of Clay Shirky's essay “The Collapse of Complex Business Models”. This type of clear, analytical thinking in the face of pseudo intellectual hogwash is needed, especially in the management communication field. Management has so little bandwidth that distraction from real actual business issues - say understanding and managing complexity - is critical. Most of the finance and economics blogs latched onto this essay as another nail in the coffin of complex banking (Felix, for example). I, like Barauch, am afraid that we may have the exact size and complexity of financial system that we should have, given a banded range of over reaction to the downside during busts and rent seeking to the upside during booms. I still haven't seen a decent model for what size finance should ideally be. But that is another post.
Debt: The first five thousand years. Eurozine.
Lombard Street : a description of the money market by Walter Bagehot
The economist manifesto. The New Statesman. What WOULD Adam Smith thought of the financial crisis.
The guru of the bottom of the pyramid. An obit for C.K. Prahalad. Economist.
Chinese Savings and the Wealth Effect. An insightful post on why low interest rates mean different things in the US versus China.