Daniel Gross

Stories by Daniel Gross

  • Split By Decision

    The rich are getting richer due to market forces—and to very human choices.
  • In Peril at Merrill

    Should Merrill Lynch CEO Stanley O'Neal lose his job?
  • Mind the (Income) Gap

    In "The Conscience of a Liberal," economist and New York Times columnist Paul Krugman investigates why income inequality has risen so sharply over the last 30 years, and he points to a culprit: "movement conserva tives," a cadre of anti tax, small-govern ment activists who dominate Republican politics, defending policies that serve the wealthy at the ex pense of the middle class. He spoke with newsweek's Daniel Gross. ...
  • Energy: Solving ‘Fission Impossible’

    We all know that $30-a-barrel isn't coming back. Just as we know that simply turning off a few lights won't halt global warming. Yet the search for a low-emission, non-fossil-fuel source of energy has been a bit like "American Idol": every now and then, another fresh-faced alternative-energy rock star wanna-be is eliminated. Wind and solar are nice and clean—but the sun doesn't work 24/7 and the wind is fickle. Ethanol offers politicians the irresistible combination of grow-your-own energy independence and the potential to make primary voters in Iowa rich. But because it's corrosive and soluble in water, it's hard to transport ethanol over long distances through pipelines. Besides, to raise a crop sufficient to meet our gasoline thirst, we'd have to plant the entire continental United States with maize, leaving only a small corner of Delaware for bedrooms and a den.As contestants are eliminated, it's worth looking at the geezer in the bunch: nuclear power. Nearly 50 years after the...
  • Gross: Protecting Paulson's Pals

    The subprime collapse didn't bother the Bush administration until Wall Street bankers started whimpering.
  • Feeling Pinch, Americans Trade Down

    Average Americans were living like the Riches, thanks to easy credit and the real-estate bubble. Now they're trading down instead of trading up.
  • Edison’s Dimming Bulbs

    Fluorescents still cost more upfront. But Wal-Mart's attention and the policies of many governments are pushing incandescents toward extinction.
  • There’s No Inflation (If You Ignore Facts)

    Imagine that a cardiologist told you that aside from the irregular heartbeat, the stratospheric cholesterol count and a little blockage in your aorta, your core heart functions are just fine.That's precisely what the government's cardiologist—Ben Bernanke, chairman of the Federal Reserve—has just done. The central bank is supposed to make sure the economy grows fast enough to create jobs and make everybody richer, but not so fast that it produces inflation, which makes everybody poorer. "Readings on core inflation have improved modestly this year," the Federal Open Market Committee said in justifying its 50-basis-point interest-rate cut last month, while conceding that "some inflation risks remain."Catch that bit about "core inflation"? That's Fedspeak for: inflation is under control, unless you look at the costs of things that are going up. The core rate excludes the prices of food and energy, which can be volatile from month to month. Factor them in, and inflation is about as...
  • U.S.-Japan Hybrid Battle

    The Japanese are way ahead in manufacturing hybrid cars. The good news: American entrepreneurs are cashing in on side products like souped-up batteries.
  • The World According to Alan Greenspan

    Alan Greenspan steered the economy through turbulence to unprecedented growth. At a time of new uncertainty, a look at his legacy.
  • Gross: Businesses Go 'Green' and Get Positive Press

    Westport Wash & Wax proudly bills itself as the only solar-powered carwash in the state of Connecticut. The proprietors, brothers Craig and Scott Tiefenthaler, have just covered the roof of their business with 18 panels. The total cost: $21,000, with the state's taxpayers footing 60 percent of the bill.This sort of behavior drives economists and global-warming skeptics to distraction. Even with the massive government subsidy, it'll take seven years for the owners to recoup their investment. And on sunny days, the panels provide only enough juice to run the shop's refrigerators and lights. "To run my main motors, I'd need a city block of solar panels," says Craig.At first blush, the carwash has all the hallmarks of a greenwash: a feel-good gesture that detracts attention from painful efforts that could really influence energy use. People who are serious about using less energy could skip the carwash altogether and bathe their vehicles with a hose and cold water. And if they're...
  • Gross: Why Mattel Must Save Face with China

    Quick to blame its Chinese suppliers for a massive recall, the toy giant now apologizes for its own mistakes. Why Mattel—and other major American companies—must save face with China.
  • Gross: The Tao of Junk

    Pundits bemoan our trade deficit with China. But those container ships aren't heading home empty. Here's what's inside.
  • The New Money Pit

    Walking through the gated community of Black Mountain Vista on a hill in Henderson, Nev., Thomas Blanchard offers a guided tour of real-estate woe. A row of stucco duplexes that recently sold for as much as $500,000 sit empty. “That’s a repo,” the real-estate agent says as he stands in front of 678 Solitude Point Avenue. Then he points to the adjacent houses, where yellow patches blot the spartan lawns and phone books lie on front porches, their covers bleached from weeks under the desert sun. “No. 680, repo; 684, repo. Those two at the end, repo.”Three years ago, this Las Vegas suburb was teeming with modern-day prospectors armed with low-interest mortgages, all hoping to strike it rich in real estate. Now, what started with the subprime-mortgage mess and subsequent credit crunch are turning communities like Black Mountain Vista into luxury ghost towns. Buyers who got in over their heads are being forced to abandon their homes, leaving behind empty McMansions on the California...
  • The Tao of Junk

    Pundits bemoan our trade deficit with China. But those container ships aren't heading home empty. Here's what's inside.