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By Katharina Pistor NEW YORK – What do the Calabrian organized crime syndicate ‘Ndrangheta, Hertz, China’s Sichuan Trust, and the US Federal Reserve have in common? They are all deeply entangled in a financial system that has turned credit intermediation into a debt mint that produces assets to enrich investors but leaves households, firms, and […]
The real world, however, is not perfect. Market participants face transaction and information costs. Negative externalities and market failures are inevitable.
Editorial by Captain John Konrad (gCaptain) In an era distinguished by the realization of monumental projects, from the sprawling LNG terminals of Louisiana to the transformative reshaping of Manhattan’s skyline,.
Editorial by Captain John Konrad (gCaptain) In an era distinguished by the realization of monumental projects, from the sprawling LNG terminals of Louisiana to the transformative reshaping of Manhattan’s skyline,.