This is a syndicated repost published with the permission of New Economic Perspectives. To view original, click here. Opinions herein are not those of the Wall…
This installment discusses some of the fatal flaws that I argue characterize the game theoretical work on CEOs by the Laureates.
This is the fifth installment in my series of article about the predictive and policy failures of Roger Myerson, Nobel Laureate in economics in 2007. My first two articles critiqued his claim that capitalism’s unique advantage over communism is plutocracy because only exceptionally wealthy CEOs can be successfully bribed by their shareholders to “imitate” “good” CEOs who will not cheat the shareholders.
We have further proof about how thin-skinned Treasury Secretary Geithner was, but we have it in the form of a weird May 29, 2013 story by Ben Protess in the New York Times.
This is a syndicated repost published with the permission of New Economic Perspectives. To view original, click here. Opinions herein are not those of the Wall…
This is a syndicated repost published with the permission of New Economic Perspectives. To view original, click here. Opinions herein are not those of the Wall…
This is a syndicated repost published with the permission of New Economic Perspectives. To view original, click here. Opinions herein are not those of the Wall…
Crony Capitalism flourishes in an economy dominated and controlled by a Central State.
Crony capitalism arises when an expansive Central State dominates the economy.The Central State can then protect crony-capitalist perquisites, cartels, quasi-mo…
Crony capitalism uses its wealth to impose government regulations designed to hinder, cripple and destroy small business competitors.
In the U.S. we now have the perfection of cloaked crony capitalism: corporate cartels use their vast concent…
The Fed did a coupon purchase today and the maturities were very long—out to 30 years. The Fed got nervous when they saw the results…