
Saved by Ian Vanagas
The Inward Draw of Capitalism
Saved by Ian Vanagas
Boardrooms are used to responding to microeconomic threats—new competitors, shocks in supply and demand, more complex markets. But today’s biggest threat is of a different order. It’s glaring down from the macroeconomic heights: prosperity itself has reached sharply diminishing returns.
Andrew Redleaf and Richard Vigilante write in Panic: The Betrayal of Capitalism by Wall Street and Washington, “The ideology of modern finance replaced the capitalist’s appreciation for free markets as a context for human creativity with the worship of efficient markets as substitutes for that creativity. The result was a divorce of entrepreneurial
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