The Rise of Junk Bonds and Financial Innovation in the 1980s

In a bid to unite a fractious populace, hardliners barred half of the parliamentary candidates; by silencing moderates, the plan will suppress turnout and deepen the disquiet. We take a look at the rise, fall and this week’s pardon of the “junk-bond king” Michael Milken. And why so few Japanese people use their widely welcomed passports.

For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/radiooffer

Hosted on Acast. See acast.com/privacy for more information.