Traditional theories of the origins of the welfare state have emphasized the financial weakness of Britain’s largest provider of mutual insurance in the late 19th century, the friendly societies. These theories share common implications with contemporary theories of institutional change...

Private equity funds and hedge funds are both alternative asset classes that are continuouslygrowing in importance. Although they have different focuses, they share some characteristics.First of all, both have or allegedly have a significant impact on the economy as well as thefinancial system...