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Abstract. The high-frequency trading arms race is a symptom of flawed market design. Instead of the continuous limit order book market design that is currently
In the early days of the coronavirus pandemic, Hollywood mogul David Geffen enraged many social media users when he posted a photo of his yacht, Rising Sun, on calm waters. “Isolated in the Grenadines avoiding the virus,” Geffen wrote on Instagram. “I’m hoping everybody is staying safe.” The photo of billionaire life aboard a 454 ft., $590 million yacht inspired plenty of outrage, and even a parody song by singer John Mayer titled “Drone Shot of My Yacht.” As an example of conspicuous consumption, the post highlighted stark global inequalities in wealth and opportunity, and...
The PTI-government has accorded a high priority to develop long-neglected labour-intensive sectors, generate more job opportunities, speed up documentation of the informal sector and raise tax revenues. Much of the effort is focused on providing access to subsidised bank credit to sectors such as small- and medium-sized enterprises (SMEs) (including self-employment of youth) and housing and related construction industry. The latest move is to provide collateral-free loans worth Rs60 billion to SMEs over the next three years. The SMEs are largely in the informal sector surviving on work or cra...