The Financialization of the American Elite
"When business owners and business schools fail to regularly ask hard questions about capitalism . . . we increase the chance that when these questions are asked, they will be asked by ideologues seeking to point fingers, assign blame, and make reckless changes to the system.
One U.S. senator recently unveiled the Accountable Capitalism Act. . . . This seems both ill-considered and unlikely to work. I doubt this bill will become law.
But when capitalism goes unchecked and unexamined . . . the pendulum can quickly swing in directions where capitalism’s benefits are discounted and its flaws exaggerated. . . .
While it’s hard to see how this proposed regulation would solve the problems that .
I’ve raised tonight, it’s exactly the kind of proposal that business will have to contend with when complex issues go unexamined, and when character, sound values, restraint, and long-term thinking fail to gain the upper hand."
By Seth Klarman, via americanaffairsjournal.org/2019/08/the-financialization-of-the-american-elite/