Yes, we have spoken a lot about public failure and the lessons we draw from the Socialist Bloc nations of Eastern Europe during the Cold War and the USSR as their patron-in-chief, which broke up due to state inefficiencies
We are not quick to pontificate about Market Failure
#SVB
We are not quick to pontificate about Market Failure
#SVB
After GFC and several other frauds and financial failures within the private sector post-2008, it is time we hold corporate white-collar workers accountable for their misdeeds.
Yes, not everything is Fraud or portends to be a Financial Crime.
But, incompetence is a Moral Crime!
Yes, not everything is Fraud or portends to be a Financial Crime.
But, incompetence is a Moral Crime!
LTCM, Enron and WorldCom, GFC were only the tips of the iceberg.
American Corporate Management Standards have tremendously deteriorated due to a lack of professional ethics, or possibly due to a lack of competition.
When Japan & West Germany were competing, the Yanks did well.
American Corporate Management Standards have tremendously deteriorated due to a lack of professional ethics, or possibly due to a lack of competition.
When Japan & West Germany were competing, the Yanks did well.
Also, regulation becomes superfluous when businesses know that they will be bailed out.
Bad Investments and business models deserve to be liquidated, which will make way for good money to enter into the ecosystem.
Bad things need to be pushed out!
#Greshamlaw #Hayek #Austrian
Bad Investments and business models deserve to be liquidated, which will make way for good money to enter into the ecosystem.
Bad things need to be pushed out!
#Greshamlaw #Hayek #Austrian
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