The free market doesn’t guarantee social outcomes, merely economic ones. – Friedman
What works better: free trade or tariffs?
Too Big to Fail?
- GM CEO Mary Barra took on the task of making a dent in the sprawling, dense and calcified GM cultural fabric which has deeply embedded within it the familiar dysfunctional qualities of a massive bureaucratic organization. In this regard, human nature repeats itself with disappointing consistency. In very large corporations, universities, government units, and the military, this is what we deal with every day. GM was probably not too big to fail. Failure could have been the disruptive event necessary to purge the dysfunction and clear a path for renewal — a corporate reboot. Bankruptcy would have provided the platform and mandate for sweeping away all the dead wood, political toxicity, cronyism, greed, inbreeding and staleness that builds up over time inside society’s largest institutions. Don’t get me wrong, I’m all-in for capitalism with its many faults, but we all know the aggressive pursuit of profit in BIG BUSINESS (with power and greed lurking in the headquarters’ shadows) has its dark side. When it comes to too big to fail, we need to protect taxpayers, not shareholders who have to take their risk/reward chances in our capitalistic free market. — sp
- federal reserve: The Great Deformation Stockman
- free market:
- history: Americana Srinivasan
- how central bankers rigged the world: Collusion Prins
- predict/control behavior: The Age of Surveillance Capitalism by Zuboff
- post-capitalism: Inventing the Future Srnicek
- progressive capitalism: People, Power, and Profits Stiglitz
- shareholders: The Shareholder Value Myth Stout
- stock market: The stock market is not the economy.
- tariffs: The Basic Guide to US Tariffs Smith
- world economic outlook: International Monetary Fund