Hedge funds are collective investment vehicles, often organized as private partnerships and resident offshore for tax and regulatory purposes. Their legal status places few restrictions on their portfolios and transactions, leaving their managers free to use short sales, derivative securities,...

Globalization is being blamed for the squeezing of the middle class and protectionism is being offered as a solution. This paper by Angel Ubide, Director of Global Economics at the Tudor Investment Corporation and an Associate CEPS Fellow, argues that the increase in inequality is a long-term...