Capitalism leads to inequality of wealth. Capitalism is based on competition. Capitalism incentivises competition and the maximization of inequality at the micro and macro levels. To maximize profits companies have to maximize revenues and minimize costs. Minimizing costs implies indirectly minimizing payments to resources, labour included.  Labour’s share of GDP has shrunk consistently for at

Banks Hedge Funds Capital · Banks have permanent equity capital and long term hybrid capital. · Hedge funds have variable capitals. Equity can be redeemed although there may be lock ups, gates and low redemption frequency to stabilize equity capital. · Lock ups and gates have been controversial. Some investors dislike them while others appreciate

On September 21st there were two central bank meetings, the Fed and the Bank of Japan, both closely watched but both garnering very little expectations. The Fed was expected to do nothing and to signal a December rate hike, which it did. The market reaction was positive, not because this was unexpectedly good news but

One day in the future, the world has nearly depleted its resources. Natural resources have been over-mined, agricultural land over-farmed, the seas over-fished and over-farmed. A surge of population growth in the developing world has led to over-population and overcrowding in cities, while some areas face neglect and become under-populated. Parts of the world become

Inflection: From the rhetoric it is apparent that the Fed wants to raise rates, the question is not if, but when. The ECB’s recent inaction and signals point to a pause and a possible rethink about QE. The BoJ is currently assessing the efficacy of current QE and has already surprised the market by its