state capitalism
The National Capitalist: How Blockchain and AI Are Challenging a 150-Year-Old Economic Prophecy
Friedrich Engels predicted the state would become the ultimate capitalist. A new letter asks if fintech and blockchain are the tools to finally topple it.
The Ghost in the Machine: Why a 40-Year-Old Warning About China Still Dominates Global Finance
A 40-year-old warning about China’s economic reforms offers the key to understanding today’s market risks, from tech crackdowns to the digital yuan.