Author, Investor, Speaker, Mentor
The critical error that many supporters of capitalism make is to assume that unfettered capitalism produces the “best” results. Capitalism is an amazing tool for allocating capital and creating wealth, but a wildly imperfect tool for distributing that wealth. I’ll put it in terms that might resonate with ardent capitalists: Pure capitalism is like a … Continue reading “Pure” Capitalism is Bad for Business
I am an unapologetic booster of capitalism in general, and Silicon Valley in particular. It’s even in the name of this blog! Yet I’ve found myself playing the role of skeptic in an increasing number of conversations lately. As our current bubble (yes, I said it!) reaches new heights, it seems like all anyone in … Continue reading What KRS-One Teaches Us About Silicon Valley
I’m not generally a fan of ill-defined protest movements, but I’ll make an exception for a new initiative from Occupy Wall Street. OWS is holding a benefit concert tomorrow that’s called “The People’s Bailout.” What’s interesting is how the proceeds will be used: OWS is going to start buying distressed debt (medical bills, student loans, … Continue reading I actually have something good to say about Occupy Wall Street
My good friend Jackie Danicki has a great post up on why people who talk about “public ownership” are stark raving mad.Lots of things are owned by the government or state – roads, schools, hospitals, etc. Just because they’re paid for by taxpayers does not mean we own them – coercing “investment” from the public … Continue reading Why Profit Motive Is The Best Way To Ensure The Public Good
This paragraph from Warren over at Coyote Blog may well be the best paragraph I read all week: “For socialists, wealth is not created by man’s mind and his effort — it is a spring in the desert with a fixed flow rate. It just exists to be taken or fought over. The wealthy, by … Continue reading The Zero-sum Fallacy Of Socialism
The ruling Democrats have a choice: Rescue this economy to return it to market control. Or use this crisis to seize the commanding heights of the economy for the greater social good. Note: The latter has already been tried. The results are filed under “History, ash heap of.” —Charles Krauthammer
In my recent “Ask The Harvard MBA” post on “Ahead of the Curve,” I made the following statement: “Capitalism has helped more people in India than Mother Teresa, and I see no reason to be ashamed of it.” One commenter asked me to explain, saying, “It is a little shocking to hear this from a … Continue reading Capitalism Has Helped Far More Indians Than Mother Teresa
Kudos to Senator Dianne Feinstein for striking a blow for capitalism. After seven months of wrangling, the U.S. Senate finally agreed to privatize The Senate Dining Room. Since 1993, the Senate’s restaurants have lost more than $18 million, including an estimated $2 million in 2008. Ironically, staffers from the senior branch of Congress prefer the … Continue reading Capitalism Finally Triumphs In The Last Redoubt Of Socialism–The US Senate