Meet Rasanath Dasa, a man who walked away from a job in investment banking paying six figures to become a Hindu monk.

See his story on CNN Business here.

While the world’s workplace is going through extraordinary change, the practice of management has been frozen in time for more than 30 years. According to Gallup’s World Poll, many people in the world hate their job and especially their boss. My own conclusion is that this is why global GDP per capita, or productivity, has been in general decline for decades.

To demonstrate, the historical seriousness, stress, clinical burnout, and subsequent suicide rates in Japan have caused the government to intervene. The current practice of management is now destroying their culture — a staggering 94 percent of Japanese workers are not engaged at work.

Read more at The Week.

Democrats continued their 2017 run of being unable to win special elections in strongly Republican districts on Tuesday. These results have led people to ask what the Democratic Party must change if it is to take back Congress (and eventually the White House).

I have what may be the most cynical answer, but one that is unavoidable: What the Democrats need is better marketing. That’s really about it.

Just to be clear, I’m not saying that as a general principle Democrats should stop worrying about policy…

Read more at The Week.

In five years, Libor could be no more.

On Thursday, a top U.K. regulator said it would phase out the London interbank offered rate, a scandal-plagued benchmark that is used to set the price of trillions of dollars of loans and derivatives across the world.

Andrew Bailey, the chief executive of the U.K.’s Financial Conduct Authority, which…

Read more at The Wall Street Journal.

Now we know one reason Democrats blocked President Trump’s first nominee to be secretary of Labor: The bureaucracy is in open rebellion against the new President’s directives. The casus belli is the fiduciary rule, the attempt by Obama Labor Secretary Tom Perez to rewrite the rules for offering investment advice. The rule was supposed to go into effect Monday.

Proponents argued that the new rule would raise the standards for advice given to retirement investors. In reality, it would make that advice more expensive while opening…

As someone who voted for Barack Obama twice, supported the Affordable Care Act, and could be persuaded to vote for the right kind of single-payer system, I’ve found the entire health-care debate over the past several months deeply depressing. That’s no doubt why my first instinct was to cheer when reading a recent rant against the right from an editor at The Huffington Post.

The transparently titled opinion column, “I Don’t Know How to Explain to You That You Should Care About Other People,” is a perfect expression of our political moment — in its utter exasperation at those on the other side of a policy debate, but even more so in how it casts these partisan opponents as moral monsters with whom communication, let alone persuasion, is simply impossible.

Read more at The Week.

A new report on the sales scandal at Wells Fargo & Co. portrayed its former chief executive as a tone-deaf leader who protected an irresponsible lieutenant and worked for board members who didn’t keep the pair in check.

The report, a long-awaited investigation of a scandal that ensnared the bank with regulators and politicians this past September, also said Wells Fargo’s board will claw back an additional $75 million in pay from former Chief Executive John Stumpf and the lieutenant, former retail-bank chief Carrie Tolstedt.

Read the full story at The Wall Street Journal.

Billy Graham died this morning, Feb. 21, in Montreat, N.C., at the age of 99. Given his long life, it is easy to forget how young Mr. Graham was when he first emerged in the public eye. At an age that today marks a point when many adults are just feeling confident in a career and starting a family, Mr. Graham was, at 31, leading his first major crusade in downtown Los Angeles. “Crusade” was the somewhat unfortunate name given to nightly religious services highlighted by a long sermon that included an invitation to the crowd to make a public decision to convert to faith in Christ. By luck, providence or charisma, that first big crusade was a hit, and went on for eight straight weeks. It is nearly impossible to imagine the American public remaining focused on one thing for so long today.

Read more at America magazine.

Peter Lazaroff (@peterlazaroff) is the director of investment research at Plancorp and blogs at peterlazaroff.com. Most people don’t know how to properly evaluate their financial adviser and overly rely on performance as the sole measurement of success. This is problematic because people tend to evaluate their portfolio over very short time horizons in which random…

Read the full story at The Wall Street Journal.

The World Bank’s recent Global Findex report found that since 2014, 515 million new financial accounts were opened around the world. On the face of it, that seems like solid progress. But new research and analysis from the Center for Financial Inclusion at Accion(CFI) is sobering on many levels.

Read more here.