Protectionism Will Do Little To Create Jobs

The Arts Develop Skills And Habits Of Mind That Are Important For Workers In The New Economy Of Ideas.

I'm Not Denying That Monopolies Are Terrible Things, But I Am Denying That It Is Readily Easy To Resolve Them Through Legislation Of That Nature.

The Use Of A Growing Array Of Derivatives And The Related Application Of More-sophisticated Approaches To Measuring And Managing Risk Are Key Factors Underpinning The Greater Resilience Of Our Largest Financial Institutions... Derivatives Have Permitted The Unbundling Of Financial Risks.

Clearly, Sustained Low Inflation Implies Less Uncertainty About The Future, And Lower Risk Premiums Imply Higher Prices Of Stocks And Other Earning Assets. We Can See That In The Inverse Relationship Exhibited By Price/earnings Ratios And The Rate Of Inflation In The Past. But How Do We Know When Irrational Exuberance Has Unduly Escalated Asset Values, Which Then Become Subject To Unexpected And Prolonged Contractions As They Have In Japan Over The Past Decade?

Indeed, Better Risk Management May Be The Only Truly Necessary Element Of Success In Banking.