When KKR paid $25 billion for the tobacco-and-food giant in 1988, it launched the modern private-equity era — and a generation of lessons about ego, debt, and the limits of financial engineering.
Read the breakdown →A proposal: give meaningful tax relief to households that move to counties below a population threshold. The economics of redistribution, from the ground up.
Monetary policy gets the headlines. Local land-use policy is the thing actually keeping shelter costs stuck. A proposal for the simplest fix.
Most regulation is permanent by default. It shouldn't be. A short argument for mandatory expiry on everything new, and a review schedule for everything old.
Blackstone's $26 billion bet at the peak of the cycle. How a deal that looked doomed in 2008 became the most profitable buyout in history.
How a once-second-tier sponsor built the largest credit franchise in private markets, while its competitors chased growth equity.
Michael Dell and Silver Lake paid $24 billion to escape the public markets and sparked one of the most consequential tech turnarounds of the decade.
The most reliable recession indicator in modern history has spent two years saying something the economy refused to do. Why, and what it means.
When debt levels reach a certain point, monetary policy starts answering to fiscal policy rather than the other way around. We may already be there.
Eighty percent of Singaporeans live in public housing they own. The policy architecture that made that work — and why it is harder to copy than it looks.