Finance with a life of its own

Readers might think I have an issue with the world of finance. Not at all: finance is fundamental in the lives of people, companies and nations. Readers might stop to consider what would happen if there were no banks, money, credit, investments, wealth management… Well, we already knew how that was a few millennia ago, […]


Capitalism on Trial

Over 200 years have passed since the emergence of traditional liberalism, led by Adam Smith. In the modern era, capitalism has evolved into a different system. One that is overly individualistic and promotes inequality. One that favors finance over the real economy and yields recurrent crises. And adamantly seeks to maximize not profitability, but rents, […]


Redistribution is not Enough

Ricardo Hausmann recently wrote a piece titled “Redistribution or inclusion?” for Project Syndicate. It provides a different view of the causes of inequality of income, looking particularly at developing countries. It points out that modern production requires many complementary inputs, many of which are present in advanced economies, but lacking in emerging economies. Some years ago a friend told […]