Sublime
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The best proposal might be the development of a market for new types of bonds that work more like equity than debt. These securities, called growth-linked bonds, would pay interest that rises or falls depending on a country's GDP. Instead of being forced to shell out interest payments based on a prefixed schedule, a government would be allowed to p
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
The financial crisis of 2008, and the Great Recession that followed, had a similar effect on the home front. The guilty parties were elites—bankers, traders, regulators, and policymakers. Alan Greenspan, the Federal Reserve chairman and an Ayn Rand fan, admitted that the crisis undermined his faith in the narrative of Free America. But those who di
... See moreGeorge Packer • Last Best Hope: America in Crisis and Renewal
Adam Appich, master of science, is there with several studies that show how legacy cognitive blindness will forever prevent people from acting in their own best interests.
Richard Powers • The Overstory: A Novel
The dominant regime of political economy in the West since 1971, and particularly acute since 2009, has been built on a set of related economic fallacies: There are no adverse consequences to manipulating the price and supply of money; economic well-being can be measured by increases in flows of revenue rather than the growth rate of profit over ca
... See moreSacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
The doctrine of subsidiarity provides an important framework for the provision of public goods. It holds that the provision of public goods (and services) should be managed at the lowest scale of governance feasible for the particular goods and services in question. When the goods and services can be effectively left to the marketplace, it is good
... See moreJeffrey D. Sachs • The Ages of Globalization: Geography, Technology, and Institutions
An open world is a more prosperous world, but it is also a world in which both individuals and businesses must be better protected against critical risks. In the thalassocratic paradigm, instead of folding in on themselves, countries must continue to defend free trade but with its complement: a Great Safety Net 2.0 that is in sync with today’s econ
... See moreNicolas Colin • Hedge: A Greater Safety Net for the Entrepreneurial Age
Argentina was badly served by the global institutions on which it had come to depend. Nations experiencing reversals of the sort Argentina was undergoing in 2000–2001 should be able to count on the international community for well-designed support to break their falls; at the very least, rescue attempts are supposed to alleviate damage, not exacerb
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
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