Europe

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

President Donald Trump was the 2019 commencement speaker at the US Air Force Academy in Colorado Springs, Colorado, on Thursday. “In all things and ways, we are putting America first, and it’s about time,” Trump told the graduating class of just under 1,000 cadets. “And we are restoring the fundamental principle that our first obligation and highest loyalty is to the American citizen. No longer will we sacrifice America’s interests to any foreign power. We don’t do that anymore.” Across the country at Harvard University, new graduates heard a very different message on commencement day.