Felix Salmon

QE3 arrives

It’s basically the same thing that we’re used to at this point, but it’s got enough in the way of new bells and whistles to get people excited anyway — and boost economic growth. So, it’s a good thing, even if it’s not in any way revolutionary.

Annals of New York private schools, Avenues edition

Carl Swanson has a perfectly-pitched profile of Avenues, the new for-profit private school in Manhattan where, as he puts it, affluent parents steeped in “that inspirational-advertising way banks and oil companies have come to perfect” are “hoping the school will provide a secure future in the Davosphere for their children”.

Counterparties: The tasks of the proletariat in the present recession

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com

Why fuel-economy standards make sense

Eduardo Porter has a very good explanation, today, of why it makes much more sense, from an economic perspective, to simply start raising gasoline taxes than it does to implement ever-tougher fuel-efficiency standards. But before we get to the meat of his argument, it’s worth correcting his numbers. Here’s his conclusion:

Charts of the day, mutual-fund outperformance edition

The FT’s Dan McCrum has found an interesting nugget in the data of my corporate cousins at Lipper:

Counterparties: Unintended collateral

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com

How to protect New York from disaster

Today, September 11, is a day that all New Yorkers become hyper-aware of tail risk — of some monstrous and tragic disaster appearing out of nowhere to devastate our city. And so it’s interesting that the NYT has decided to splash across its front page today Mireya Navarro’s article about the risk of natural disaster — flooding — in New York.

Can we have a TARP for jobs?

First, go and check out Mike Konczal’s wondrous gift to the internet today, a fabulous GIF-filled guide to QE3 and monetary policy, where I found the GIF above. It neatly encapsulates the greatest problem facing America today: people can’t find work.

The necessity of a college education

Megan McArdle is on the cover of the new Newsweek, with a story asking whether college is still worth it, after decades of massive price inflation, and in it she makes a few good points.