Financial Markets

The most talked-about financial failure of the year is Long-Term Capital Management, an investment partnership (loosely termed a hedge fund) run by Wall Street darling John Meriwether.

A billionaire speculator turns against capitalism.

Austrians deal with a central but overlooked monetary conundrum.

Clinton and friends propose a global lending facility as a prelude to endless bailouts. 

Financial instability and anti-capitalist fallacies about booms and busts. 

 Half of U.S. currency is held overseas. What happens if (when?) it is repatriated?

Should owners or "society" determine how the corporation is managed?

It's time to start thinking of the stock market as a giant S&L. Money continues to pour in, despite a bounty of evidence that the extraordinary gains of the last few years cannot be enjoyed in the near future. The perception has never been stronger that the stock market is the right place to be for your long-term investment needs.

The new QJAE asks: in what ways are they alike?

Making lots of money is evil say the politically correct. It's sleazy, socially destructive, and almost always immoral, unless profits are given away to left-wing lobbying groups. Typical of this trendy disgust with getting rich through capitalistic means is Socially Responsible Investing (SRI), a nebulous set of investing standards embracing a host of "progressive" political causes.