Surfing to success
Quality waves create a surge in economic activity
BRONZED travellers gaze out over their cocktails as surfers carve up the left-hand breaks on offer in Máncora, Peru. Decades ago Máncora was little more than a somnolent fishing village surrounded by desert. Today it’s a staple of the surfer circuit with a recent swell of luxury retreats. Máncora’s transformation, everyone agrees, owes much to its wave patterns.
This article appeared in the Finance & economics section of the print edition under the headline “Surfing to success”
From the August 13th 2016 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