Extra Credit, Tuesday Edition

I'm on assignment (or travelling, or at a board meeting) for most of Tuesday, so posting will be light to nonexistent. In the meantime...

Against ambition: "Ambition is counter-productive for those who possess it, and for the economy generally."

A short break in social democracy: "Private affluence is invisible except in so far as it spills over into the public square (good steakhouses, say, and high culture). Further, a lot of travelling occurs between cultures where different private-public exchange rates apply. It occurs to me that much tourism is motivated by precisely this factor; tourism as a form of commuting from the suburbs of private affluence to the city of public prosperity."

London’s edge over New York eroded

Non-doms: move to New York City and pay more: NYC's taxes are higher than London's.

Break Up AIG! "Back when AIG had a AAA rating, there was a reason to hold the whole thing together, because of cheap financing. Today, AIG suffers from a conglomerate discount, because no one can understand the balance sheet... Simpler is better."

Buffett’s trade-gap solution: Is Buffett a protectionist?

Warren Buffett Watch: Transcripts of Buffett's appearance on CNBC.

Bogus Art: When art donors get massive tax breaks by exaggerating the value of their donations.