The spectacular rise and fall of FTX and its founder Sam Bankman-Fried were driven by effective marketing, trickery, and financial speculation. In that, they bear a striking resemblance to the disastrous eighteenth-century experiment that fueled the Mississippi Company bubble and created the template for all future Ponzi schemes.
draws parallels between the FTX collapse and economist John Law’s infamous eighteenth-century scheme in France.
The summit between US President Joe Biden and his Chinese counterpart, Xi Jinping, was, at best, a public-relations effort to provide a brief respite in the ominous progression of conflict escalation. But there was no substance, no strategy, and no path to de-escalation.
explains why the Biden-Xi summit yielded little more than lofty rhetoric – and proposes a new approach.