This paper examines the influence of demographics on the economic demands of a population in a democracy. We argue in this paper that one country’s demographic profile will drive its economic policies in a manner that may seem at odds with the rational behavior of another country, unless one...

Markowitz (1952, 1959) underlies modern corporate finance literature, from modern portfolio theory, option theory, to risk management (especially value at risk type methodologies). From it, Diversify has entered all languages, such is its power. Terms such as “the only free lunch” have...