I had read about the rise of institutional investors, mutual funds, pension funds and the like, but a NYT op-ed by Eric Posner, Fiona Scott Morton and Glen Weyl places that rise in terms that require thought, if not concern. In 1950 institutional investors made up 7% of the market, today it is 70%. Among the largest investors are Blackrock with a total of 5 billion in assets and Vanguard with a total of 3.5 billion. These firms, which obviously buy substantial amount of stock, work for the benefit of their customers, not necessarily (more…)
Values
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Libyan Slave Market
Once in a while in all I read to prepare for these pieces, I find myself in disbelief, encountering how evil humans can be. This week it was a story in The Guardian newspaper about what they called Libyan slave markets. Migrants, usually from West Africa, with little or cash and often with no papers, manage to pay people smugglers to get across the desert to the coast. The rescued migrant interviewed for this story tells of a bus ride organized by the (more…)
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A Nursing Home for Sex Workers
In many countries once sex workers are no longer desirable enough to work, they end up destitute and homeless. Carmen Munoz saw that, and a sex worker herself she was not only touched by their plight she wanted to prevent this from happening to her. Her own story can be typical of why women go to work in one of Mexico City’s several red light districts. At 22 with 7 children, her husband left her. She heard of a priest who helped people find jobs, but after (more…)