Category: Capitalism

Wharton: “Why Corrupt Executives Are Rarely Prosecuted”

Don’t miss a great Knowledge@Wharton interview with Jesse Eisinger on his new book, The Chickenshit Club. Some highlights: Jesse Eisinger: The Justice Department has lost the will and ability to prosecute top corporate executives. They focus on settlements with corporations for money, and I think this undermines justice in America. Knowledge@Wharton: They lost the will. That’s

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McKinsey is Wrong: Capitalism Is Not About Innovation

What are the true nature and purpose of capitalism? In the U.S., a nation that considers capitalism close to a religion, the answer may seem obvious to many people: it is a social and legal system in which individuals (entrepreneurs) compete for wealth using capital (their own or that of investors). Yet, that traditional view, and the “classical” economic theories

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WSJ: “Competition is for Losers”

Check out this interesting piece by Peter Thiel on capitalism and monopolies on WSJ. He has a great point that what most businesses really wish for is not great competition but its opposite. A sample: Americans mythologize competition and credit it with saving us from socialist bread lines. Actually, capitalism and competition are opposites. Capitalism

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The Texas Toyota Project and the Price of Jobs

I came across an interesting article in the WSJ recently about the “incentive” package Texas recently gave to Toyota in order to move its U.S. headquarters to the state The State, notes the article, put together a comprehensive set of financial incentives to make the giant automaker leave California: Texas offered Toyota $40 million to move, part

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