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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: Haim R. Branisteanu	1/27/2010 8:17:01 AM
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Stiglitz ‘Negative Value’ on Bankers Means No Davos Happiness By Jacqueline Simmons and Ian Katz Jan. 27 (Bloomberg) -- The one-time masters of the universe may need to become masters of self-delusion if they hope to find happiness along with their paychecks. Bankers created “negative value” with innovations such as mortgages that homeowners couldn’t afford, said Nobel laureate Joseph E. Stiglitz, who is speaking today at the World Economic Forum in Davos, Switzerland, on the economics of happiness. bloomberg.com The Happy Planet Index, compiled by the London-based New Economics Foundation, an independent group promoting alternative forms of economic thinking, ranks Costa Rica, the Dominican Republic and Jamaica as the countries with the highest happiness rankings among 143 countries surveyed in 2009. The U.S. ranked 114th and Zimbabwe last. The HPI takes into account factors such as life expectancy, life satisfaction and resource consumption. ‘Paid in Marbles’

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