Articles on the three women that shared the Nobel Peace Prize, what is behind income inequality in the United States, can Europe get ‘TARPed’, let Greece default, the coming stampede into corporate bonds, the messy world according to Mervyn King, Israel makes its case, and the uses and abuses of Adam Smith’s ‘invisible hand’.

llen Johnson-Sirleaf, Leymah Gbowee, and Tawakul Karman share the prize.

National Post -- Three Women Share Nobel Peace Prize
Declaring women’s rights vital for world peace, the Nobel Committee awarded its annual Peace Prize on Friday to three indomitable campaigners against war and oppression — a Yemeni and two Liberians, including that country’s president.

Related. The age of women.

Atlantic -- The End of Men
IN THE 1970s the biologist Ronald Ericsson came up with a way to separate sperm carrying the male-producing Y chromosome from those carrying the X.

How Congress is making the United States a more unequal place.

Foreign Affairs – Why The Rich Are Getting Richer
The U.S. economy appears to be coming apart at the seams.

Statistic worth noting.

“The share of total income going to the top one percent has increased from roughly eight percent in the 1960s to more than 20 percent today.”

Lessons learnt aren’t necessary transferable.

Financial Times -- America’s six key lessons for a ‘euro Tarp’
 “We told you so”.

There is a sad scene in the movie Out of Africa when the character played by Meryl Streep watching her staff desperately trying to put out a fire engulfing her plantation throws up her hands and says. ‘let it go, let it go!’ Time for the same advice for Greece.

Financial Times -- Save the euro – let Greece default
It is time to let Greece go.

No where else to go.

Economist -- Death by low yields
MONEY-MARKET fund managers have been in pain for some time. Investors withdrew $151 billion from such funds, which invest in short-term securities, in the first nine months of the year, according to EPFR Global, a research firm.

 

The worst ever.

Telegraph -- World facing worst financial crisis in history, Bank of England Governor says
Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.

What Israel needs to hear.

Globe and Mail -- The real obstacle to Palestinian statehood
As the Palestinians press for recognition of statehood at the United Nations, Israelis fear that their own national legitimacy is under growing assault.

Readers of CEF know our view about the misuse of the phrase ‘the invisible hand’. This article helps sort out the misunderstanding.

Guardian -- The Big Ideas podcast: Adam Smith's 'invisible hand'
Philosopher John Gray and Guardian columnist Polly Toynbee are among those joining Benjamen Walker to consider the legacy of Smith's much-abused phrase.