Archive for May, 2012

Grexit: It’s a question of how, not if, Greece will leave the euro

By , 26 May, 2012, No Comment

Over at Foreign Exchange, I’ve got a post up on the euro. Short version: all signs now point to a Greek exit, and Christine Lagarde has given a statement indicated there is no turning back.

It sounds as if she’s essentially saying to the Greeks and others in Europe, you’ve had a nice time and now it’s payback time.

“That’s right.” She nods calmly. “Yeah.”

And what about their children, who can’t conceivably be held responsible? “Well, hey, parents are responsible, right? So parents have to pay their tax.”

That fits entirely with the strict language she used when I interviewed her in August:

She knows this is a tough sell. “You first have a period [after making cuts] where growth takes a hit and goes negative”—and with that come unavoidable human costs in lost jobs and social services. Political feuding over controversial cuts will only make the pain worse. How should ordinary people cope? She pauses. “It takes courage.”

What are the implications of this tough stance:

Hypothetically, should Germany refuse to loosen the terms of its loans to Greece, the IMF could offer a bit of rope on its loans to Greece that would allow a left-wing Greek government to save face without upsetting the eurocart. But. as those of us who have followed her closely expected, Lagarde has unequivocally squashed that possibility in her remarks tonight.

Read the whole post here.

Are Men Threatened By Women At Work?

By , 23 May, 2012, No Comment

Some of them are, according to a new study I’ve written up at Forbes.

Researchers at Harvard and UNC-Chapel Hill surveyed men in three kinds of marriages: traditional (wives who don’t work), neo-traditional (wives working part-time) or modern (wives working full-time). And they found that the more traditional a man’s marriage, the harder he was likely to be on the women he works with.

There is an obvious reason for this: that men who live in traditional marriages are more likely to have more traditional worldviews overall and less likely to have been exposed to feminist or gender-egalitarian ideas.

The more interesting suggestion is that these men are acting out of self-interest. We know that the earnings premium for married men is highest for those whose wives don’t work outside the home, and instead provide supportive labor in the home that enables their husbands to be better employees.

And so the authors of this paper suggest that men with stay-at-home wives are enforcing in the workplace an order that they know benefits them personally, seeing the women who work for them as proxies for what their wives could become. The values these men express – that women aren’t competent at their jobs, that marriages work better when women stay home– are actually rationalizations for a self-interested reaction to a perceived threat.

Read the whole post here.