Dubai was supposed to be a new model for economic development in the Persian Gulf, and in the world. And like so many recent “new models,” Dubai is proving to be a lemon.
The theory was that Dubai would be a competitive, free oasis in a region generally hostile to the open market. Lacking oil resources [...]

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Oct. 20 (Bloomberg) — A 40 percent jump in Wall Street bonuses this year may bring relief to New York City and Albany as the state and its biggest metropolis struggle with a combined $14 billion in budget deficits this fiscal year and next.
New York investment houses will dole out $26 billion in bonus checks [...]

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This article is the winner in the university category of the Plus new writers award 2009.
On a sunny morning in 2001, a piece of investment plan landed on the desk of Dick Fuld, the then Chief Executive of Lehman Brothers. The document, compiled by a team of maths and physics PhDs, included a calculation to show [...]

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