Demystifying Sovereign Wealth Funds
Opaque, state-controlled investment vehicles, sovereign wealth funds wield enough power to redirect or disrupt global economies.
The Numbers vs. the Lottery
Between the 1960s and 1980s, state governments created lotteries to supplant illegal gambling operations that brought revenue to marginalized communities.
A People’s Bank at the Post Office
The Postal Savings System offered depositors a US government-backed guarantee of security, but it was undone by for-profit private banks.
Marbled Money
Marbled paper was a way to make banknotes and checks unique—a critical characteristic for a nascent American Republic.
The Magic of a Crooked Sixpence
Coins were used for centuries in many ritual contexts, but the English silver sixpence was a particularly common charm—for several reasons.
Environmental, Social, and Governance Factors v. Fiduciary Duty
Asset managers have a fiduciary duty to act in your best interests. Does that include considering ESG factors when investing your money?
A Bank of Her Own
The first US bank for women was opened by a fraudster in 1879. It took 40 years for a reputable women’s bank to be founded in Tennessee.
Why is the US Dollar So Strong?
Not only did post-World War II policy give the United States a managerial position in the world order, it gave it an outsize role in shaping the global economy.
How We All Got in Debt
Consumer debt shapes American lives so thoroughly that it seems eternal and immortal, but it’s actually relatively new to the financial world.
Building an Economy on Paper Money
A shortage of coined currency led Pennsylvania to begin using paper money in the 1720s. The British didn't like it, but the colonists did.