On the road with America's post-homed nomads

Housing costs Americans more than at any time in history, and it's only getting worse as foreclosures open the door to market-cornering by inconceivably vast hedge funds who buy all those "distressed properties" and turn then into bond-coupon factories where the rent ratchets higher and higher, well ahead of inflation, wages, or affordability. Read the rest

Behavioral economist on why Americans freak out when you attribute their success to luck

Cornell economist Robert Frank drew the ire of the nation's business press when he published an article that said something most economists would agree with: hard work and skill aren't enough (or even necessary) to succeed; but luck is. Rather than back down from the angry reception, he's expanded the article into a book, Success and Luck: Good Fortune and the Myth of Meritocracy, which came out last month. Read the rest