Money Archives - Page 15 of 27 - Pittsburgh Quarterly

Creative Capital

U.S & China: Setting the Record Straight

In April of 2017, as Donald Trump and Xi Jinping were preparing to meet, a group of academics, policy wonks and former diplomats took out a full-page ad in the New York Times. The wonks warned the U.S. against falling into the “Thucydides Trap.” The ad explained the Thucydides Trap as arising when a dominant power …

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Creative Capital

Fed Cred: The Quailing Central Bank and What it Means

It’s been a long time since I berated my friends at the Fed, and my typing fingers are getting itchy. So I’m interrupting my Cold War II series for a little pleasant Fed-bashing. Part of the reason for my (uncharacteristic) forbearance is that I thought Jay Powell was mostly doing the right things. He’d been …

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Creative Capital

Why China Is Ready to Fall Apart

In the 1980s, almost four decades into Cold War I, President Reagan dramatically ratcheted up the pressure on the Soviet Union by expanding and modernizing the U.S. military and launching his famous “Star Wars” (Strategic Defense) Initiative. The policy apparatus in the West went berserk. Reagan was, they claimed, wildly escalating the Cold War. The …

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Creative Capital

The Trouble with China

Virtually every American policymaker believed that the collapse of the USSR marked “the end of history.” Ever since the dawn of human civilization, hostile societies had vied for supremacy, resulting in war after war. But, it was thought, the break-up of the main sponsor of Communism demonstrated that there were simply no political ideas that …

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Creative Capital

Outlasting the Russians

Within a period of four months in 1945, both Germany (in May) and Japan (in September) surrendered. At that time the Allies controlled most of the world, including Western Europe, while the Soviets controlled Eastern Europe. The USSR had been our “ally” during the war only in the narrowest sense of the word. Stalin had …

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Creative Capital

Cold War II

Roughly five years ago, my book, “The Stewardship of Wealth,” was published in the U.S. Almost immediately, it was translated into Chinese and was being readied for publication by Tsinghua University Press in Beijing. But then one day—actually, it was nearly midnight—I received a frantic call. It seemed that there was a teensy-weensy problem: the Chinese …

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Creative Capital

The Value of Living Separately

We’ve talked a lot about De Rarum Natura, but we haven’t actually experienced the poem in these pages. There’s a reason for that—poor Lucretius has been unlucky in his translators. The vast majority of the DRN translations have been made by Latin scholars. These renderings are technically accurate and have the merit of passing along …

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Girl on the Move

I arrived at the Carnegie Institute of Technology in the fall of 1959 as a 16-year-old first year student in the architecture department in the College of Fine Arts. I had chosen architecture because I loved art and math ever since I was a kid, and architecture seemed like the perfect combination. Besides, I lived …

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Creative Capital

Time Warp with Lucretius

Lucretius lived and wrote a long time ago. Indeed, if we wanted to, we could calculate how much time has passed since De Rerum Natura was completed in 50 BCE—how many centuries, years, months, weeks, days, hours, minutes, seconds. (But don’t bother. It was 20 centuries, 2,079 years, 24,948 months, 759,355 days, 18,224,520 hours, 1,093,471,200 minutes, and 65,608,272,000 seconds—i.e., a …

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Creative Capital

On Lucretius, Part II: Why His Poem Was so Great

“The greatest poem by the greatest poet.” —Dryden on De Rerum Natura and Lucretius ”Carmina sublimis tunc sunt peritura Lucreti / exitio terras cum dabit una dies.” —Ovid [“The verses of the sublime Lucretius/will perish only when a day will bring the end of the world.”] What exactly was it that made De Rerum Natura, or DRN, so remarkable? …

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Creative Capital

On Lucretius: The Man Who Changed the World

One happy day in the year 1417, with the mind of Europe still firmly in the grip of the Dark Ages, a fellow named Poggio Bracciolini was mucking around in the Benedictine library at Fulda in present-day Germany. He reached out his hand and pulled off the musty shelves a volume which, to his astonishment, …

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Creative Capital

We Are Forever Grateful for Your Sacrifices, Part II

Amazingly, I passed all my first year law school exams (okay, by the skin of my teeth), and that fall I was back in Cambridge ready to start my second year at Harvard Law. But they wouldn’t let me register for classes because I couldn’t pay the (staggering) tuition. When I’d started my first year …

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Creative Capital

We Are Forever Grateful for Your Sacrifices

“Thank you to all of our alumni veterans for your service. We are forever grateful for your sacrifices.” – Email received on Veterans Day by Your Humble Blogger from Harvard Law School When that email landed in my inbox I was at first both surprised and pleased. After all, Harvard University has been, for half …

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Creative Capital

Spitting Into the Wind, Part III

I’m perfectly well aware that Noel Coward once remarked that reading a footnote is like having to stop making love so you can go downstairs to answer the door. But what did he know? I love footnotes. In his (much over-praised) book, “Infinite Jest,” David Foster Wallace included almost 100 pages of footnotes, which was terrific. Unfortunately, he …

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Herbert Simon: 20th Century Galileo

by James H. Morris

James H. Morris is a retired professor of computer science and dean of the School of Computer Science as well as the Silicon Valley campus of Carnegie Mellon University. In a series of blogs for Pittsburgh Quarterly he writes about some of the computing pioneers he encountered during his career. Although he was less approachable …

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Creative Capital

Bloggy, Blog Blog…

We’re talking about my blog—blogging about blogging, talk about a navel-gazing exercise—and also about the book of blog posts that I just published. Selection criteria Since there exist, as of this moment, well over 300 of my blog posts, averaging 1,000 words each, I couldn’t simply publish all of them. That would result in a …

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Raj Reddy: Modern Circumnavigator

by James H. Morris

James H. Morris is a retired professor of computer science and dean of the School of Computer Science as well as the Silicon Valley campus of Carnegie Mellon University. In a series of blogs for Pittsburgh Quarterly he writes about some of the computing pioneers he encountered during his career. Raj Reddy began life in …

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Creative Capital

Spitting Into the Wind

The first blogging software hit the market in 1999, but it was a technology in search of a use. I never even heard the word “blog” until the early 2000s, and didn’t focus on it until, in 2004, the Merriam-Webster Dictionary selected “blog” as the Word of the Year. (It’s a truncation of “web log.”) Even then …

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Allen Newell: The Lone Ranger

by James H. Morris

James H. Morris is a retired professor of computer science and dean of the School of Computer Science as well as the Silicon Valley campus of Carnegie Mellon University. In a series of blogs for Pittsburgh Quarterly he writes about some of the computing pioneers he encountered during his career. After succumbing to Alan Perlis’s …

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Creative Capital

The Dear John Letter (to your Financial Advisor)

For many people, the worst part of the process of terminating an advisor happens at the very end, when you finally have to tell the guy the relationship is over. Think about that love affair that just wasn’t right. You knew that he/she was wrong for you, but actually breaking off the relationship filled you …

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Robert Taylor: Demanding Coach

by James H. Morris

James H. Morris is a retired professor of computer science and dean of the West Coast campus of Carnegie Mellon University. In a series of blogs for Pittsburgh Quarterly he writes about some of the computing pioneers he encountered during his career. As I struggled with the rigors of being an assistant professor at University …

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Creative Capital

Firing Your Financial Advisor, Part III

Now that we know why we’re going to fire our financial advisor, let’s talk about when to do it. Obviously, if any of the issues I detailed in my last post are operating, the time to fire your advisor is ASAP. But even if no hot-button issues have raised their ugly heads, that doesn’t necessarily mean that all is …

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