The high tide of globalization, free trade and capitalism, which had seemed so irresistible in the 1990s, appears to be receding, even as the world economy continues to expand. In country after country, new economic experiments are being tried which have the effect of increasing the state’s control over economic matters. Not just a general […]

It is becoming clear as we move further away from the Cold War years and confront new geopolitical threats that there is a high correlation between the level of asymmetrical threat from a country and the hopelessness of life in the country concerned. Thus North Korea is a country from which threats to our existence […]

The Economist’s leading article last week suggested that India’s long boom was about to end in a credit crunch. At first sight, this seems unduly pessimistic. China’s boom hasn’t yet ended in disaster, so why should India’s? However, when India’s position is examined more closely one comes to the conclusion that, while a crunch is […]

The Securities and Exchange Commission Tuesday threw yet more dust into the eyes of investors on the knotty question of stock options valuation, when it issued a letter to Zions Bancorporation allowing them to value management stock options by means of a tiny parallel issue in the “market.” While appearing to be only a modest […]