Money Archives - Page 17 of 27 - Pittsburgh Quarterly

Scholars of the Great Depression typically blame policymakers of the 1930s for failing to do four things: They failed to rein in the 1920s economic boom, allowing its collapse to lead to the worst depression in US history. Following the Crash of ’29, they failed to inject sufficient liquidity into the economy, causing it to …

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Creative Capital

The Great Depression vs. the Great Recession

by Greg Curtis

Subsequent to the Global Financial Crisis, U.S. GDP has grown, in the aggregate, 37%. During the period of the Great Depression, U.S. GDP grew, in the aggregate, 40%. In the 1930s, the U.S. economy declined 26% between 1930 and 1933 and unemployment rose to 25%. During the Great Recession the U.S. economy declined 3% and …

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Creative Capital

Central Bankers Then and Now

by Greg Curtis

Not that anyone cares, but in these pages I’ve been highly critical of the “unconventional” policies pursued by every central banker on the planet since the Financial Crisis. My arguments have been many and simple: The policies not only didn’t work, they actually stunted economic growth. The policies were “immoral” in the sense that they …

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Creative Capital

Shined Shoes Can Save Your Life: The Conclusion

by Greg Curtis

It was now late winter of 1971 and I was running the traffic division at the 226th MP Company at Fort Benjamin Harrison, outside Indianapolis. In those days Fort Ben was the headquarters of the Army Finance School and the location of the Army Finance Center. The building that housed the Center was the second largest …

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Creative Capital

The Legend of Duke Hock

by Greg Curtis

Sergeant Duke Hock was a legend in the Army while I was still in grade school. He was Jack Reacher before Lee Child was born. There are so many stories about Duke that, even though I’ve forgotten 90% of them, I can remember dozens. The two I’m about to relate happened to involve me. To …

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Creative Capital

Shined Shoes Can Save Your Life, Part II

by Greg Curtis

So there we were, in late 1970, having graduated from the U.S. Army Military Police Correctional Specialist Academy, the best-trained prison guards in the world. We had been assigned to one of the worst prisons in the world, the stockade at Long Bình, Vietnam, better known as the Long Bình Jail, or LBJ. Our job …

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Business

A Look Inside Google’s Unconventional Bakery Square Offices

by David Aschkenas

What is really behind the brick walls of that redeveloped Nabisco cookie factory building in Bakery Square, labelled with Google’s colorful logo? Think: hammocks, coffee shops, dining rooms, gaming rooms and pool tables. Created in collaboration with local architecture firm Strada, Google’s office space in Pittsburgh’s East End is playful, unconventional and inspiring with many …

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Creative Capital

Shined Shoes Can Save Your Life

by Greg Curtis

A few weeks ago, in a post about J. D. Vance’s book, “Hillbilly Elegy,” I mentioned in passing that I was convinced that having spit-shined my Army combat boots may have saved my life. I didn’t elaborate, and since then several dozen people have inquired about that brief aside. So here’s the story. To understand what …

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Creative Capital

Why Democracy Matters

by Greg Curtis

Just to make it simple, let’s define Europe’s “illiberal democracies” as those countries where elected leaders profoundly disagree with the liberal, inclusive, affluent worldview of the EU’s political classes. The British disagreed with this worldview so violently that they left the Union altogether. Most of the other “illiberal” democracies aren’t in strong enough positions to …

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Money

Three Questions on the Markets, Part IV

by PQ Staff

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to a series of questions. The final question is, “What effect will higher inflation have on stock prices?” What effect will higher inflation have on stock prices? Thomas L. Wentling Jr., Wentling Tarquinio …

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Creative Capital

The Media Has It All Wrong

by Greg Curtis

I mentioned last week that I recently visited Switzerland, Austria and Hungary, and that if we think things have gone nuts in the U.S., we have no idea. The gentle Swiss, as I pointed out last week, have become enamored of right-wing, populist parties and are about to vote on a flat-out silly leftwing ballot …

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Money

Three Questions on the Markets, Part III

by PQ Staff

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to a series of questions. Below is part three of this four-part series with their answers to this question: Do you think the Trump Administration’s stimulus efforts—especially the tax cuts and regulatory reform—will …

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Creative Capital

Inside a Swiss Bank

by Greg Curtis

I just returned from one of those whirlwind speaking tours in Europe – three speeches in four days in Zurich, Budapest and Vienna. It was an eye-opener. Back here in the U.S. we are so focused on the shenanigans going on in Washington, D.C. that we forget that very similar turmoil is convulsing the body …

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Creative Capital

The Hillbilly Saga: Conclusion

by Greg Curtis

The bottom line of J. D. Vance’s book, “Hillbilly Elegy,” is that far too many people from southeastern Kentucky are trapped in a hillbilly culture that stands in the way of their own success. As if that weren’t bad enough, hillbillies are discriminated against because people aren’t willing to distinguish between good hillbillies and bad …

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Money

Three Questions on the Markets, Part II

by PQ Staff

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to questions. Below are their answers to this question: Why has market volatility spiked in 2018? Do you expect markets to remain volatile? Why has market volatility spiked in 2018? Do you expect …

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Creative Capital

How to React to a Hillbilly

by Greg Curtis

Last week we tried to imagine how Professor Daniel Kahneman, Nobel Prize-winning author of “Thinking, Fast and Slow,” would react if he saw a couple of hillbillies coming into his store. This week we’ll re-look at that situation, pretending that Kahneman isn’t a Nobel Prize winning professor at all, but a lowly department store clerk. …

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Money

Three Questions on the Markets

by PQ Staff

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to a question. This year, we’ve asked three. Part I of this four-part series begins below. Question 1: Why has market volatility spiked in 2018? Do you expect markets to remain volatile? LINDA …

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Creative Capital

The Stubbornness of Culture

by Greg Curtis

In 2013 J. D. Vance graduated from Yale Law School, an accomplishment he shared that year with the following fraction of his fellow Americans: 0.00000063. I deduced this remarkable statistic very simply, by dividing the number of students in the Yale Law School class (208) by the population of the United States, which, at this …

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Creative Capital

Don’t Even Think About Crossing a Hillbilly

by Greg Curtis

We’ve talked about several obstacles to success in middle class Ohio for migrants from southeastern Kentucky: they had horrible accents and they tended to dress funny. But the biggest obstacle was the most difficult to overcome: their behavior. As I’ve noted, Scots-Irish immigrants to America brought with them a constellation of characteristics. These included an …

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Business

How My English Degree Helped Build a Tech Company

by Chris Allison

When I was 26, my dad got sick and asked me to take over as CEO of the tech company he started. I was armed with my English major from Allegheny College and a couple of years in a retail management training program. In other words, I didn’t have a clue. Or so I thought. …

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Creative Capital

Don’t Dress Like a Hillbilly

by Greg Curtis

Last week we discussed one of the major hurdles recent immigrants from southeastern Kentucky faced when they tried to assimilate into middle class society in Ohio: they talked like hillbillies. This week we’ll look at a second hurdle: the matter of dress. In “Hillbilly Elegy,” J. D. Vance notes that his Papaw wore the same outfit every …

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Business

The Agency Game

by Evan Pattak

Pipitone Group, an ad agency in Pittsburgh’s Observatory Hill neighborhood, counts Vitro Architectural Glass as one of its largest clients. For the Cheswick-based company, which purchased PPG Flat Glass in 2016, Pipitone manages advertising and web strategy. Yet when Vitro wants to develop and implement a public relations initiative, it brings to the table another …

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