Money Archives - Page 19 of 26 - Pittsburgh Quarterly

Freedom is better, even when it’s worse. We might think about experts the way we think about stop signs (bear with me on this…) To understand the expert-stop sign analogy let’s begin with Arthur C. Brooks, who has written (in “Foreign Affairs” and elsewhere) about what he calls “the dignity deficit,” which he believes cost Mrs. Clinton …

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Creative Capital

Democracy, Populism, and the Tyranny of the Experts, Part VII

by Greg Curtis

Viewed through the lens of “the tyranny of the experts,” it’s easy to see that in the last election Hillary Clinton was the candidate of the experts, while Donald Trump was the candidate of people who were tired of being tyrannized by them. Clinton is an expert herself—she’s a lawyer who practiced with The Rose …

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Business

The Union Project

by Lori Jakiela

“Work is about a search for daily meaning as well as daily bread.” –Studs Terkel When my friend Sara asks me to work a catering gig, a hipster-ish wedding in a rehabbed church called The Union Project, I say, “I am so in,” and she says, “Really?” as if she expected me to say no. …

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Retirement

“And… Action!”

by Evan Pattak

Editor’s note: Studies show that hundreds of thousands of people across southwestern Pennsylvania are nearing retirement or already have left the workforce. What the studies don’t tell us is how these new retirees will be spending their time and resources… and what impact those choices will have on the region. In this second installment of …

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Business

Examining Austin as a Boomtown—Lessons for Pittsburgh?

by Paul Scripko

Today’s high in Austin is 104 degrees, with 106 predicted for tomorrow. Even the native Texans, proud and defensive of the State’s hardships, are complaining. It has become a standard topic of conversation between strangers in elevators and in bars. And still the masses make their way here. Sit in traffic—which we do a lot of …

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Creative Capital

Democracy, Populism, and the Tyranny of the Experts, Part VI

by Greg Curtis

Populism is an unsettling phenomenon in part because we don’t know where it will end. And we don’t know where it will end because populism isn’t itself a governing idea—it’s a response to the perceived failure of other governing ideas. On the other hand, looking back through history we can notice—as a matter of observation, …

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Creative Capital

Democracy, Populism, and the Tyranny of the Experts, Part V

by Greg Curtis

If we wanted to—well, we do want to—we could go back 2,500 years and identify the exact point when human civilization went off the rails on the subject of experts. It’s 399 B.C. and a fellow named Socrates is languishing in an Athenian prison, awaiting execution. He’s been convicted (albeit by a narrow vote of the citizens …

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Creative Capital

Democracy, Populism, and the Tyranny of the Experts, Part IV

by Greg Curtis

Not that long ago—say, when my parents were starting out in married life—building a sound investment portfolio was a piece of cake. You bought some Blue Chip stocks and some Triple A bonds and you were done. And even having to worry about building a portfolio was a very rare experience. The vast majority of …

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Creative Capital

Democracy, Populism, and the Tyranny of the Experts, Part III

by Greg Curtis

The first thing we do, let’s kill all the lawyers. (Shakespeare, Henry VI, Part II, identifying the first step in building a better society) When I was growing up, my family not only never consulted a lawyer, I never laid eyes on one. Lawyers were completely irrelevant to the lives of almost everyone. Then, suddenly, I was …

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Business

What Will the Shell Cracker Bring Along with It?

by Ashley Murray

Orange plastic curtains protect passers-by from blow torch-wielding workers who are learning to weld in a new training facility for Steamfitters Local 449. The building on the border of Butler and Beaver counties represents an $18 million bet on a building boom that economists and government officials say the nearby Shell cracker plant will spur. …

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Creative Capital

Democracy, Populism, and the Tyranny of the Experts, Part II

by Greg Curtis

I launched this series of posts by taking a brief tour of a regrettable society called Acirema, in which a race of experts called Masters, though a tiny minority, lorded it over a sub-race of non-experts called Slaves. We’re back, now, in America and wondering if Acerima society might offer a moral for us. Not …

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Creative Capital

Democracy, Populism, and the Tyranny of the Experts

by Greg Curtis

Is it better never to put your ideas in writing and thus be thought a vacuous fool, or is it better to launch your own blog and remove all doubt? To launch this series of posts with such a mouthful of a title—Democracy, Populism, and the Tyranny of the Experts (hereinafter DP&TE)—we’re going to engage in one …

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Creative Capital

Cash is King

by Greg Curtis

Since the end of the Financial Crisis eight long years ago, a notion has settled across the land that “cash is trash.” This is the bunkmate of the “TINA” principle: There Is No Alternative to owning equities. It’s easy to understand how these ideas took root. Since the Bear Market ended in early 2009 stocks …

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Creative Capital

Explaining Donald Trump, the Conclusion

by Greg Curtis

I have met the enemy, and he is me. (What Trump, channeling Pogo, should be saying to himself every morning.) Can Trump turn it around? No one knows, of course, but if my only slightly tongue-in-cheek analysis is correct, the best hope for Trump is that his dismal experience to date will prove to be a …

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Creative Capital

Explaining Donald Trump, Part V

by Greg Curtis

Donald Trump has been such a disruptive agent during his first few months as President that it’s easy to dismiss him as hopelessly incompetent. That would be a mistake: one common way MEPs (mega-entrepreneurial personalities) prevail is because other people write them off as unhinged lunatics. I’ll get to the lunatic aspect of our MEP …

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Money

Three Simple Questions on the Markets, Part III

by PQ Staff

We asked a group of the region’s leading wealth managers to pen a response to three questions about the markets and how they approach current conditions. Here are their responses to the final question: If you had to put all your money in one asset class today and couldn’t sell for ten years, what would …

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Creative Capital

Explaining Donald Trump, Part IV

by Greg Curtis

There is so much emotionalism about Donald Trump—both pro and con—that I’m trying to explain his behavior by looking at issues outside the man himself. I’m looking at how people behave who have very similar personality types (i. e., mega entrepreneurial personalities, or MEPs) and at how people are likely to fare in the Presidency …

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Creative Capital

Explaining Donald Trump, Part III

by Greg Curtis

I’m claiming to be able to explain Donald Trump—and predict his actions as President—by reference to only two of his characteristics. The first is that he’s what I’ve called a Mega Entrepreneurial Personality, a trait he shares with an infinitesimally small group of Americans. The second trait is something Trump shares with almost all of …

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Creative Capital

Explaining Donald Trump, Part II

by Greg Curtis

I’m determined to explain Donald Trump by referring to merely two of his traits, the first of which I’ve dubbed the Mega Entrepreneurial Personality, or MEP. Here are a few more examples of MEP characteristics we’ll need to consider as we try to understand the 45th President of the United States: MEPs are utterly fearless, not …

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Money

Three Simple Questions on the Markets, Part II

by PQ Staff

We asked a group of the region’s leading wealth managers to pen a response to three questions about the markets and how they approach current conditions. Below are their answers to the second question: The Fed is working to “normalize” interest rates over the course of 2017. What impact will a more normal rate environment …

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Creative Capital

Explaining Donald Trump

by Greg Curtis

If writing about music is like dancing about architecture, then explaining about Trump is like sneezing about hermeneutics. I believe it to be the general opinion across the land that anyone who thinks he can explain Donald Trump has probably just escaped from an Institution for the Criminally Insane. From where I sit it appears …

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Money

Three Simple Questions on the Markets, Part I

by PQ Staff

We asked a group of the region’s leading wealth managers to pen a response to three questions about the markets and how they approach current conditions. Here are their responses to the first question: Since the election of Donald Trump, stock markets have soared and the confidence of consumers and investors has risen. How real …

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