Scott Minerd is a Managing Partner of Guggenheim Partners. He is also CEO for Guggenheim Partners Asset Management, where he functions as chief investment officer, overseeing more than $25 billion in client assets. Minerd previously worked as a managing director for Morgan Stanley; at Credit Suisse, he was responsible for overseeing fixed-income credit trading in the United States, Europe and Asia. Early in his career, Minerd made significant contributions to the development and use of derivative securities in the global capital markets. During the 1993 European exchange rate crisis, he orchestrated the restructuring of Italy’s Eurobond debt. By employing the largest debt exchange offer ever executed by a G7 country, Italy was able to reestablish itself as a credible capital markets borrower. Minerd began his career as a CPA and worked for the public accounting firm of Price Waterhouse. He has completed graduate work at both the University of Chicago Graduate School of Business and the Wharton School at the University of Pennsylvania. He holds a bachelor’s degree in economics from the Wharton School at the University of Pennsylvania.
In the 17th and 18th centuries there was an economic model that became very popular called mercantilism. Under mercantilism, the nations of Europe expanded their territories into new regions and used those regions as an opportunity to extract resources and bring wealth back to their homes.
While mercantilism is generally thought to have benefited the European nations at the expense of their trading partners, there were certain benefits that accrued to the partner regions under the mercantilist system.