Felix Salmon

Why the Fed needs to replace bark with bite

Antony Currie has a response today to those who say that the Fed’s U-turn on swipe fees “makes it look as if it can be cowed by the kind of intense lobbying the banks unleashed.” (Yes, that would be me.)

Counterparties

Felix TV: Talking to Justin Wolfers and Charles Kenny about the economics of happiness — Reuters

The Fed caves in to banks, interchange edition

I could really do with a lot more transparency from the Fed on why exactly it’s decided to almost double the maximum permitted debit interchange fee. The bank lobby certainly had a lot to do with it — but the bank lobby always said that the Fed was simply doing what it was forced to do under the Durbin amendment to Dodd-Frank, and that therefore Dodd-Frank itself had to be changed.

Will the world ever have open borders?

My favorite bit in this video comes towards the end, when I ask Charles about the wonderful tweet he sent out last Friday, after the gay marriage bill passed the New York senate.

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One day we’ll see legal discrimination by *place* of birth as evil as discrim. by other features of birth –gender, orientation, color.less than a minute ago via web Favorite Retweet ReplyCharles Kenny
charlesjkenny

Felix TV: Is blogging dead?

I’ve felt for a while now that the kind of blogging I do — one person writing a series of blog posts in reverse-chronological order — is dying, even if it’s not quite dead. There are still lots of great blogs out there, but my Portfolio.com guide to the econoblogosphere, now almost four years old, is not nearly as out of date as it should be, and very few new voices have emerged since then.

Counterparties

Whether or not you agree “Obama Has Finally Become Dick Cheney,” admin’s threat to jail James Risen is pretty troubling — Atlantic

Why Lagarde got the IMF job today

For me the interesting thing about Christine Lagarde becoming the new managing director of the IMF is not the news itself. I said she’d get the job as long ago as May 15, and I’ve considered her a lock since May 20. Rather, the interesting thing for me is the timing: everybody expected the announcement on Thursday, the 30th, but instead it came today, the 28th. Why push things up?

Remixing education

I went to a fantastic education panel this morning called Game Changers, with three inspirational educators: John Hunter, Salman Khan, and Katie Salen. Sal Khan needs little introduction, at this point; if you haven’t seen his TED talk, go watch it now. The other two were new to me, however: John Hunter invented the World Peace Game to teach his 10-year-olds; it’s a lot more chaotic and inspirational than it sounds. And Katie Salen is the executive director of the Institute of Play, which has already built one school in New York, and has another on the way in Chicago.

Counterparties

This private equity shop can’t possibly be evil! The founder went to Wharton twice! — Influx