Out of Mortal Threat, an Opportunity

ESSAY II

RACE TO REFORM environments with higher transaction costs than the public markets. What Congress can’t do is legislate away the relationship between risk and return.

About the Author

Wilfred M. McClay

Wilfred M. McClay is a professor at Hillsdale College and author of Land of Hope: An Invitation to the Great American Story.

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ESSAY II

RACE TO REFORM environments with higher transaction costs than the public markets. What Congress can’t do is legislate away the relationship between risk and return.