Michael Panzner

'neath the Buttonwood Tree

The Economist magazine this week held its first "Buttonwood" conference, calling together the great and the good of global finance and economics to worry further about where the world is headed. (The conference title is in reference to the buttonwood tree that served as the first New York Stock Exchange.)

The conference took place against a backdrop of still-soaring stock markets and yet more declarations that the recession is over. Even Paul Krugman is admitting to a "smidgen of optimism", as industrial production puts in an unexpected surge.