‘Farewell Welfare’ — Part II

Welfare promises — made in times of lower life expectancies, when less people were at the apex of society’s pyramid (and during the greatest credit boom in history) — are going to be reneged upon.

Out With the Old Political Guard

Whether or not these populist heroes fulfil the promises that led to their victories, throwing out the old political guard and bringing in the new is a far greater, more powerful trend: the outright rejection…

Markets and Money