Business & Economy

When Standard & Poor's recently lowered the U.S. government debt rating for the first time in history, it set off a firestorm of criticism, from the Obama administration to Wall Street. The downgrade raised questions about the influence of S&P and other agencies, which also faced blame in the financial crisis of 2007-'08.

When Columbus crossed the Atlantic in 1493, his journey prompted the exchange of not only information but also food, animals, insects, plants and disease between the continents. In a new book, Charles C. Mann describes the aftermath of Columbus' arrival in the Americas.

New York Times financial reporter Louise Story explains how guidelines issued by the Justice Department in 2008 have allowed prosecutors to take a softer approach to corporate crimes. To this day, no high-level executive has been charged in a case related to the 2008 financial crisis.

In his new book, Tomatoland, food writer Barry Estabrook details the life of the mass-produced tomato — and the environmental and human costs of the tomato industry. Today's tomatoes, he says, are bred for shipping and not for taste.

Pulitzer Prize-winning financial reporter Gretchen Morgenson chronicles the failings of Wall Street regulators in Reckless Endangerment: How Outsized Ambition, Greed and Corruption led to Economic Armageddon.

ProPublica reporters Jake Bernstein and Jesse Eisinger recently won the Pulitzer Prize for their stories about the banks and hedge funds that realized what was happening to the U.S. economy while it was happening -- and then made vast fortunes by betting against the markets and creating fake demand.

New York Times financial writer Diana Henriques was the first journalist to interview Bernie Madoff after he was sent to prison. Henriques' new book, The Wizard of Lies, details how Madoff created the biggest Ponzi scheme in history after playing a prominent role in shaping modern markets.

Linguist Geoff Nunberg says everyone's using the phrase "we're broke" these days to justify cuts in government programs and services. But what does "we're broke" actually mean? The answer, says Nunberg, is tricker than you think.

Google, Forest Laboratories and other companies shave billions off their taxes by shifting their revenue through countries with lower income tax rates, Bloomberg News reporter Jesse Drucker says.

In There is Power in a Union: The Epic Story of Labor in America, journalist Philip Dray follows the labor movement as it grew out of 19th century uprisings in textile mills. There are several parallels between those historical battles and what is currently going on in Wisconsin, he says.

Using a shared currency has made it difficult for Europe to recover from its economic crisis, Nobel Prize-winning economist Paul Krugman says. He explains why the euro experiment may fail — and what that would mean for the global trading system.

Dexter Filkins recently broke the story that top Afghan officials have been receiving bags of cash from Iran. The New York Times foreign correspondent tells Terry Gross that the situation in Afghanistan is becoming increasingly dire for both soldiers and journalists.

After the housing bust, banks hired many people to handle foreclosure paperwork -- and many mistakes were made. New York Times columnist Gretchen Morgenson explains what the paperwork mess means for the banking industry and the economy.

Ben Mezrich's The Accidental Billionaires painted an unflattering portrait of Facebook creator Mark Zuckerberg. The film version gets the programmer-nerd details (and Harvard's oak-and-crimson ambiance) right -- but fails to see the upside of a worldwide social network.

Economist Robert Reich argues that the economy isn't going to get moving again until we address a fundamental problem: the growing concentration of wealth and income among the richest Americans. He explains his fears for America's economic recovery in Aftershock: The Next Economy and America's Future.

Director Oliver Stone turned down several offers to make a sequel to his 1987 hit Wall Street, for which Michael Douglas won an Oscar as hostile-takeover king Gordon Gekko. Then the market collapsed and it seemed a good time to revisit his old antihero.

The six-time Emmy winning writer explains how he came up with the idea for the major plot shakeup at the end of the third season and details his favorite moments from the series.

What's wrong with the field of psychiatry? Psychiatrist Daniel Carlat says some American psychiatrists are too busy prescribing drugs to actually talk to people. Carla talks about the forgotten art of therapy and the influence of drug companies on the profession in his new book, Unhinged.

The pithy, 17-syllable poems fit neatly into Twitter's 140-character limit. "Twaiku" has taken off. Linguist Geoff Nunberg says the pervasive little poems have filled the cultural space that was once occupied by light verse.

Gretchen Morgenson, who covers the world financial markets for The New York Times, discusses the investigations into Goldman Sachs by the Securities and Exchange Commission, the Justice Department and a Senate subcommittee — and reflects on the role Goldman Sachs played in the financial crisis.