New Economic Perspectives – MMT

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Consent of the Governed: Stop the Emerging TPP Tyranny!

Consent of the Governed: Stop the Emerging Tyranny!

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.–That to secure these rights, Governments … Continue reading

Consent of the Governed: Stop the Emerging Tyranny!

CEO Compensation: “Cheaters Prosper”

As financial regulators we have been warning since 1984 that accounting control fraud is optimized by modern executive compensation. Modern executive compensation is so perverse that it creates overwhelming incentives to engage in fraud and the means of committing the fraud that makes it far more difficult to prosecute. The CEO is able to convert the firm’s assets to his own benefit through seemingly normal corporate mechanisms. CEOs also use executive and professional compensation to generate “Gresham’s” dynamics and incentivize fraud by employees, officers, and professionals.