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In regulated industrial fisheries, as in Iceland, New Zealand and America, this has taken the form of a tradable, individual share of a fishing quota.
ECONOMIST: Fishing and rights
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It is alarmed by the inflated valuations of domestic shares, a consequence of the small proportion of a company's shares that are actually tradable, and of investors' enduring belief that share prices are dictated by political signals, not by the laws of supply and demand.
ECONOMIST: Casino capital
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At the same time, says Mr Spence, the mix of jobs available to Americans in the tradable sector (including manufacturing) that serves global markets is shifting rapidly, with a growing share of the positions suitable only for skilled and educated people.
ECONOMIST: The great mismatch