Portfolio turnpike theorems show that if preferences at large wealth levels are similar to power utility, then the investment strategy converges to the power utility strategy as the horizon increases. We state and prove two simple and general portfolio turnpike theorems. Unlike existing...

This article examines the relationship between crisis, ideas, and economic policy-making in Britain during the 1970s stagflation, looking specifically at the turbulent years 1974-76. It argues that existing ideas-based approaches either fail to define 'idea' with any precision, or explain both...