"A corporate system that’s increasingly vulnerable to downturns and reliant on socialized aid is biding time until crises of a larger magnitude."
Isn't the current breakdown in international shipping a great example? What good is a profit-driven model if it can't even get goods to consumers, or materials to manufacturers, in a reasonable time? It seems like a situation begging for a big-government intervention, but wouldn't that just be another bail-out?
"A corporate system that’s increasingly vulnerable to downturns and reliant on socialized aid is biding time until crises of a larger magnitude."
Isn't the current breakdown in international shipping a great example? What good is a profit-driven model if it can't even get goods to consumers, or materials to manufacturers, in a reasonable time? It seems like a situation begging for a big-government intervention, but wouldn't that just be another bail-out?
Great points about stock buy-backs. I hadn't thought about them before as a wealth transfer to shareholders, and away from other stakeholders.
Great read Mike. I remember your initial excitement at the 2019 Business Roundtable Announcement. Not much follow through I guess.