The Old Allure of New Money

Practically no one, outside of computer science departments, can explain how cryptocurrencies work, and that mystery creates an aura of exclusivity, gives the new money glamour, and fills devotees with revolutionary zeal. None of this is new, and, as with past monetary innovations, a seemingly compelling story may not be enough.

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The Next New Thing in Finance — Bonds Linked Directly to the Economy

When the next big recession comes, we’ll be much better off if governments have established a new kind of bond tied to the ups and downs of the economy.

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