The Eternally Relevant Hayek

Virginia Postrel notes that Friedrich Hayek's ideas on the state and the economy were all the more a revelation as they came in an intellectual environment that was hostile to free markets generally. How far we've come.

In Stock Markets, Europe Overtakes America

So says The Financial Times. For the first time since the First World War, apparently. Note that the figure includes Russia and non-EU states in Eastern Europe; I'd be curious to see what the figure is for EU-based stock markets alone. But I'm sure it's at least comparable with America's; after all, how big can the Russian stock market be? Honestly.