Free Republic

Wriston’s Law is named after the late Walter Wriston, a giant of banking and finance. In his 1992 book, The Twilight of Sovereignty, he predicted the rise of electronic networks and their chief economic effects. Wriston said capital (meaning both money and ideas), when freed to travel at the speed of light, “will go where it is wanted, stay where it is well-treated.” By applying Wriston’s Law of capital and talent flow, you can predict the fortunes of companies (and countries). All predictions about future performance must start with this most basic question: Do companies (and countries) attract money and...

With markets at last recovering from the turn-of-the-century crash and the attacks of September 11, it is an opportune time to debate America's future in a rapidly changing world economy. America's establishment of liberal economists and media pundits, however, are joining in a cramped new nationalism that jeopardizes the future of American technology and prosperity. Like reactionary jingoes of the past, they are priming John Kerry with the delusional view that the U.S. and its workers are somehow victims of global trade and capital movements.... In a popular image, "Benedict Arnold CEOs" are seen to be offshoring factories and outsourcing...