PremiumBy Andrew Sheets, global head of fixed income research at Morgan StanleyIf you were a global investor at the end of the eighteenth century looking for a stable, low-risk home for your capital, it would have been entirely reasonable to avoid the newly minted United States of America.
250 Years Later: Morgan Stanley On America's Transition From A Frontier Market
What saved America from the usual traps of frontier economies was not immaculate stability. It was adaptability.
48 words~1 min read
