Greece and the Idea of Debt

Eric Frith (This article originally appeared at Tropics of Meta and is used with the kind permission of the author.) The Greek sovereign debt crisis reached a climax early this week when, in an impromptu popular referendum, Greeks overwhelmingly rejected the terms of the bailout package offered by Eurozone leaders and the troika (the European…

Of Tail Fins and Fighter Jets: Artificial Obsolescence and Economic Bankruptcy (Updated)

Harley Earl was Vice President of Styling for General Motors and considered the father of American automotive design.  Since its inception in the 1920s, GM styling was based on a concept known as “artificial obsolescence,” which involved redesigning and retooling the entire line of cars every two years so that car owners would want to…