Daniel Gross

The labor market isn’t like the stock market, where buyers and sellers meet and conduct deals instantaneously with the stroke of a key. In fact, the labor market is in many ways remarkably inefficient. And people and institutions often can’t move fast enough — or may lack or lose the potential to move — to fill open positions.

Daniel Gross

Markets on the whole may be efficient, but the U.S. doesn’t just have one labor, housing, or office market. There are hundreds of labor and housing markets, and thousands of submarkets. And they are full of imbalances, shortages, gluts, and other inefficiencies.

Daniel Gross

By many measures, the labor market has never been better, with historically low unemployment rates and historically high levels of payroll jobs and job openings. So one service worker might be reasonably optimistic about finding a better position at better wages. And yet anxiety and economic insecurity remains rampant — in part because an increasing number of people rightly fear that their work could one … [ Read more ]

Pop!: Why Bubbles Are Great For The Economy

Three cheers for “exuberant, foolish, mad overinvestment!” Slate columnist Gross takes a counterintuitive look at economic bubbles-those once-in-a-generation crazes that everyone knows can’t last, and don’t. With each one, we lament having gotten in too late, and then not having gotten out soon enough, and finally shake our heads at the inevitable bankruptcies and lost jobs and general financial wreckage. The pattern is all too … [ Read more ]

Why Harvard Is Bad for Wall Street

The bright young things from Harvard Business School are making their way to Wall Street in droves. Some 26 percent of the HBS class of 2004 took stock-market related jobs, up from 23 percent of the class of 2003. I guess that means it’s time to sell.

Man of Steel

In one of the least widely reported stories I have stumbled upon, Wilber Ross is purchasing the assets of steel operations that have gone bankrupt and is potentially in the position to make a lot of money. How? By purchasing the assets of the firms and leaving the so-called legacy costs (example pension and heath-care costs) out. It is a great example of several important … [ Read more ]

Now, Dow?

How an irrelevant index survived the tech meltdown.

Editor’s Note: If you don’t know what the DJIA really is (or if you’re not sure), read this…it’s really interesting. For more instruction on the basics of market indices finance, visit