Edward Hadas

Salaries good, big bonuses bad

By Edward Hadas
June 26, 2013

The pay arrangements for top executives are far too complicated. I have a very simple proposal: abandon almost everything but fixed cash salaries.

Rate rigging costs more than money

By Edward Hadas
June 19, 2013

Here are some depressing figures: 133, 20, 4, 3 and 1. They are the most recent key counts in what might be the most alarming of all the financial scandals since the 2008 crisis, the sometimes successful efforts of traders to rig benchmark rates.

Social media sets us free, or not

By Edward Hadas
June 12, 2013

Modern history can be told as a story of new communications technologies which both undermine authority and reinforce the power of the state. The last week has shown that the Internet and social media are playing these two roles well.

Bond markets and failed theory

By Edward Hadas
June 5, 2013

In theory, interest rates are one of the jewels of capitalist economies. The theory has been well tested over the past half-century, and it has failed. Interest rates have become a mark of shame. The recent increase in yields on government bonds in much of the world – by a quarter, from 1.65 percent to 2.1 percent since the beginning of May for 10-year U.S. government bonds – is only the latest chapter in a long and depressing story.