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Last month, Warren Buffett went shopping - abroad. He flew to South Korea for a factory opening and called the country a "hunting ground" for investments. He also pronounced post-earthquake Japan "a buying opportunity," and then traveled on to India, where he said he was eyeing more acquisitions. This is Buffett's way of betting against the U.S. dollar. Armed with about $38 billion of cash at Berkshire Hathaway, he can use dollars now to buy companies that will generate profits in other currencies for years to come.

The obvious answer is that rich people have political clout-but can it really be so simple?

from the Great Transformation of 1954 to the Arab Spring and the three economic falsehoods that can destroy our civilization.

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