New solutions, new questions
Consideration of trading costs sheds light on the capricious movements of exchange rates, but it creates analytical problems of its own
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This article appeared in the Finance & economics section of the print edition under the headline “New solutions, new questions”
From the August 5th 2000 edition
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The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer