Categories
Economics

Activism for profit

Activist hedge funds have been playing an increasingly central role in corporate governance. Stock markets do not capture the long term costs of short-term pillaging. As a result, these activist investors can pursue transactions that increase prices at the expense of long-term performance, such as cutting project investments or reserve funds.

Categories
political science

US Mint ends production of one dollar coins

Last Tuesday, 13 December 2011, The U.S. Mint announced that current production of one dollar coins is ending. The Mint will continue to produce a few one dollar coins for collectors, as required by law. But these will have numismatic value, and cost more than $1.00.

instead of producing 70-80 million coins per president, the Mint will now only produce as many as collectors order.