Even though the official unemployment rate is probably not quite as high as it was in 1933, there are reasons to believe that our labor market is currently in even worse shape economically than it was at the lowest depths of the Great Depression.
Capitalists and entrepreneurs serve distinct functions in the real economy. Capitalists save money that then maintains production processes until final goods are produced. Entrepreneurs adjust the capital structure in light of uncertainty to produce the most desired goods. Capitalists are ...
Devine responds to the critics who claim that capitalism is increasingly under attack because it promotes a collapse of moral values. Devine is fully capable of handling these accusations and has written a book worth reading.
Suddenly the champions of stakeholder theory, like the predictably despicable Washington Post, find themselves singing a new tune about vulture capitalists, deciding that hedge fund short sellers are now the good guys.