Bloomberg South Africa’s ruling African National Congress agreed to seek a change in the constitution to allow for the expropriation of land without compensation, provided it doesn’t affect the economy and food production. The party agreed to the proposal in a debate that “nearly collapsed” its five yearly conference, Enoch Godongwana, the head of the ANC’s economic transformation committee, told ...

It’s hard to find controlled experiments in finance. But they exist. East and West Germany, North and South Korea, Chile and Venezuela. In crossing a border, you can immediately see the difference in economic output and financial well-being from one country to the next, based on variations in tax and regulatory policy. The same goes for within the United States ...

The stock market is at a record high. Investors are chasing a handful of hot stocks. Geopolitical tensions threaten to upend the rally. I’m referring, of course, to 1972. The S&P 500 Index closed at a record high of 119.12 on December 11. It was the height of the Nifty Fifty (not to be confused with the Nifty 50 Index ...