WASHINGTON: Gresham’s Law from 16th century England says bad money drives out good. Sir Thomas Gresham, money manager for Queen Elizabeth I, argued that if two coins with the same nominal value simultaneously circulate the one with the most gold will be hoarded while the less valuable coin is used. Who would have guessed that in our time this medieval axiom would be tested—of all … Continue reading Zimbabwe: How Bad Money Drives Out Good
WASHINGTON: Historian Douglas Brinkley of Rice University describes the unexpected victory of Donald Trump as a social revolution comparable only to the election of Ronald Reagan in 1980. “There’s been nothing like this in our lifetime,” said the respected authority on the presidency. Pollsters and pundits—including myself—were completely wrong-footed. In retrospect there were signals that were missed. In my case two days before the … Continue reading Is Trump Victory a Mandate for Change?
There they sat on October 9 interviewing each other, the famous writer who exposed Wall Street’s excesses, and the elegant French woman who leads the international agency set up to is assure financial stability. Big Short author Michael Lewis and International Monetary Fund chief Christine Lagarde agreed that eight years after the financial crisis progress has been made but more work is required to avert future catastrophe. Continue reading A Weak Economy and Disconnect Between People and Finance
Reflecting on the September 19th death of 83-year-old Allister Sparks, political analyst Aubrey Matshiqi wrote that fearless journalists like Sparks contributed to the defeat of apartheid. “Theirs,” said the struggle veteran, “was a golden age of journalism which coincided with one of the darkest periods in our history.” For me, a young reporter in Johannesburg from 1974 to 1977, I think Matshiqi has it right. … Continue reading South Africa’s Golden Age of Journalism
In the early 1900s Theodore Roosevelt and his friend John Muir liked to say that wilderness saves the human spirit. That being the case, we in Washington, D.C. are lucky to have wilderness so close at hand. I arrived in Hancock, MD where I-70 veers north into PA at 2:30 on a Friday afternoon. Leaving the car in the town lot adjacent to the C … Continue reading Wilderness at the Doorstep: People and Bears Between Hancock and Paw Paw
Barry D. Wood 