https://www.scmp.com/rss/319952/feed Alexander Friedman, an investor, is a former chief executive officer of GAM Investments, chief investment officer of UBS, chief financial officer of the Bill & Melinda Gates Foundation, and White House Fellow. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com It is time to admit that the American dream is dead. Its underlying conditions – strong, consistent economic growth and a meritocracy structured to keep the rich from gaming the system – no longer hold true.  Nonetheless, an American dream 2.0 is still possible, and it will be up to those now contending for the White House to offer a blueprint for making it a reality. For starters, America’s leaders need to explain the problem clearly. The Declaration of Independence proclaimed the “pursuit of... https://www.scmp.com/comment/opinion/article/3022907/american-dream-dead-here-are-five-ways-fix-system-and-launch?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3022907/american-dream-dead-here-are-five-ways-fix-system-and-launch?utm_source=rss_feed Fri, 16 Aug 2019 17:00:11 +0000 In his Pulitzer-Prize-winning book, Lords of Finance, economist Liaquat Ahamed tells how four central bankers, driven by staunch adherence to the gold standard, "broke the world" and triggered the Great Depression. Today's central bankers largely share a new conventional wisdom - about the benefits of loose monetary policy. Are monetary policymakers poised to break the world again? The unprecedented period of coordinated loose monetary policy since the beginning of the financial crisis in 2008... https://www.scmp.com/comment/insight-opinion/article/1840053/does-stock-market-turmoil-signal-beginning-next-crisis?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1840053/does-stock-market-turmoil-signal-beginning-next-crisis?utm_source=rss_feed Thu, 16 Jul 2015 02:38:02 +0000