The Daily Beast's Zachary Karabell sits down with reknowned economist to talk about a less-discussed form of inequality: how our country's best young minds end up innovating on Wall Street instead of in laboratories or at universities.
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Read moreGoldman Sachs' shareholder meeting took place today and CEO Lloyd Blankfein made statements on bank regulations, the Volcker Rule and Europe, reports CNBC's Mary Thompson.
Read moreAll the actors in the Facebook IPO debacle look bad, Zachary Karabell writes, but most of the blame should be directed at Morgan Stanley and the other banks that underwrote the stock offering. Plus, Dan Lyons breaks down 7 things to know about the scandal.
Read moreZachary Karabell examined Chester Alan Arthur, who was propelled into the presidency by the assassination of James Garfield and turned his back on the patronage system that had nurtured him. Mr. Karabell argued that in creating a professional civil service he set America on a course toward even greater reforms in the decades to come.
Read moreBig business is making big news. Newsweek & The Daily Beast’s John Avlon and Zachary Karabell on JPMorgan’s multi-billion dollar mistake, why Facebook’s IPO was actually a huge success and the fallout resume padding that led to the demise of Yahoo’s CEO.
Read moreFacebook’s epically hyped IPO debuted not with a bang but with a whimper. While the company sold $16 billion worth of initial shares, the stock ended the day largely where it began, at $38 a share, leaving the company with a market cap of about $100 billion. The offering was widely derided by the Wall Street community of traders, who viewed the stock's failure to soar on day one as a sign of troubled times ahead for Facebook.
Read moreFor the third May in a row, events in Greece have taken on global significance. The spark this May, the rising debts and plunging growth of the onetime hub of civilization, is largely the same. But why does the fate of a country with not quite 11 million people and about $300 billion in GDP matter so much? Why does a nation with barely more people than one new Chinese city and an economy hardly larger than the state of Maryland continue to roil international markets? Not since the Trojan War has the fate of the Hellenes been so central to humankind.
Read morePresented at the Colorado Foothills World Affairs Council on 05/15/2012.
Read moreThe Nobel laureate insists our unemployment problems are part of a chronic cycle and require government action—and says arguing the issue is structural is an excuse for doing nothing. Zachary Karabell on why that stance is misguided.
Read moreQuestion: When does risk aversion become risky behavior? Answer: when you are a large financial institution in today’s world, especially a behemoth bank like JPMorgan Chase, attempting to navigate both labyrinthine regulations and shareholder demand for endless profit.
Read moreIn a surprising announcement late yesterday afternoon, JPMorganChase, one of the largest banks in the world, announced that it had suffered massive losses in an internal fund meant to shield the bank from … massive losses. CEO Jamie Dimon,
Read moreIn a surprising announcement late yesterday afternoon, JPMorganChase, one of the largest banks in the world, announced that it had suffered massive losses in an internal fund meant to shield the bank from … massive losses. CEO Jamie Dimon, who had until now steered his behemoth institution with
Read moreHistorian, economist, and journalist Zachary Karabell talks about how Garfield's vice president Chester A. Arthur created professional civil service and ushered in a new era of reform in America.
Read moreThe saga of Chinese activist Chen Guangcheng has become the latest source of tension between China and the United States. And the way that story has entered domestic American politics sheds disturbing light on how in denial the United States remains about the state of the world in the early 21st century.
Read moreToday’s anemic jobs report is yet another indication that the unemployment picture in the United States is getting neither better nor worse. It is also yet another piece of evidence that there is a chronic, long-term structural employment issue in America. It is not an acute crisis; it isn’t getting much worse; and it isn’t going away anytime soon.
Read moreToday’s anemic jobs report is yet another indication that the unemployment picture in the United States is getting neither better nor worse. It is also yet another piece of evidence that there is a chronic, long-term structural employment issue in America. It is not an acute crisis; it isn’t getting much worse; and it isn’t going away anytime soon.
Read moreYet again, Apple announced record sales and earnings. Yet again, its “Jobs report” stood in stark contrast to the monthly official jobs report. For the past four years, as the U.S. economy has stumbled, Apple has soared. As millions have lost jobs or stayed underemployed, Apple has sold more phones, iPads, and computers than most thought possible. While its success certainly has come at the expense of competitors such as Research in Motion (maker of the BlackBerry) and Nokia, it has generated tens of billions in revenue and sold tens of millions of devices by reaching new customers and not simply taking market share. And it has seen its most dramatic success during one of the worst economic slumps in the developed world.
Read moreWhile many people may be hoping for the Murdochs to be raked over the coals this week at the Leveson Inquiry, that might not be the case. John Avlon talks with Zachary Karabell about the News Corp. scandal and what happens when new technology outpaces old laws.
Read moreThe New York Times is reporting that Walmart's Mexican division was allegedly involved in bribery and kickbacks. Newsweek & The Daily Beast's Zachary Karabell talks about what that will mean for the corporation's image and what it might say about American companies doing business in other countries.
Read moreThe 1 percent versus the 99 percent—the haves and the have-nots; the government or the people; China versus the United States. Our conversations today are framed by these splits, yet as compelling as these are, they are each secondary to the yawning gulf that has emerged between large, multinational companies and everything else.
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