13 Ways We Can Fix The “Free Market” So It Works For Regular People, Not Just The Rich (Jeffrey Hollender, CoExist/FastCo)

The bad rap of capitalism’s excesses does not have to underwhelm common sense. Despite its faults American capitalism has done a lot of good. It can still do more.

13 Ways We Can Fix The “Free Market” So It Works For Regular People, Not Just The Rich

In his book Saving Capitalism: For the Many, Not the Few , former U.S. Secretary of Labor Robert Reich provides an outstanding guide to many of the factors that prevent the possibility of a truly free market.

13 Ways We Can Fix the "Free Market"


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Supporting Social Entrepreneurship, A Key to Growth

The greatest management professor of all time, Peter Drucker, once recommended that corporations learn from non-profits. He wrote a classic HBR article on this topic, still available. Today social entrepreneurship represents one of the most inclusive pathways to doing well by doing good. This is not poor English usage.

It is a concept that is long overdue.

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How social entrepreneurs can solve the talent problem

Three steps can help. The impact of social entrepreneurs-individuals who deploy innovation and market forces to fill social needs-is growing. Bringing light to Africa, mobile banking to Bangladesh, low-cost healthcare to Nepal, or even better school lunches to the American cafeteria: in all these cases, the private sector is a big part of the action.

Read the article on mckinsey.com >

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The Benefit of Forethought?—Risk ‘Capable’

Jefferies, Free of the Restraints of Bigger Banks, Is Emboldened

Shares of Leucadia fell 46 percent from its peak in May 2013 through last year, while that of 13 business peers rose an average 14 percent. This year, despite battling volatile markets early in the year, Leucadia has outperformed as results started to rebound.

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Donald Trump may the the National Abe Hirschfeld

If I am right, thinking differently about your investments will be your #1 priority.
(Warning: It does not matter which Guru(s) you listen to!)

You can know in minutes…

What I learned listening to them terrified me. Mainly because I began to imagine what could be coming. And then, a few years later it came. Financial Armageddon-the meltdown of the subprime mortgage and derivatives markets. SO interspersed were the synthetic investments that whole countries spiraled into debt.

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Do newspapers hurt themselves by charging non-resident readers?

I know you’ve gotten these.

Poll: Do newspapers hurt themselves by charging non-resident readers?

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Journalism. Close to our hearts, but mind your own mind.

The Case Against the Media, by the Media

For decades, the pollsters at Gallup have been asking Americans if they trust their media. In 1974, the year Woodward and Bernstein brought an end to Richard Nixon’s presidency, 69 percent of them did. In a poll released last year, that number was at a historic low.

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Classical Liberal Finance: It cannot be improved upon

Screen Shot 2016-07-31 at 9.43.02 AM“Great firms, with a reputation which they have received from the past, and which they wish to transmit to the future, cannot be guilty of small frauds. They live by a continuity of trade, which detected fraud would spoil. When we scrutinise the reason of the impaired reputation of English goods, we find it is the fault of new men with little money of their own, created by bank ‘discounts.’ These men want business at once, and they produce an inferior article to get it. They rely on cheapness, and rely successfully.”

Excerpt From: Walter Bagehot. “Lombard Street : a description of the money market.”

I re-discovered Bagehot in Niall Ferguson’s brilliant, “The Great Degeneration.” Not sure who to support, politically? Well then. Here is a wonderful reference tool for you!

Read common sense.


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Historic Perspective Counts

It’s a common place in many arguments: Someone points out how awful/better something [fill in the blank—dietary habits, housing, social interactions] was in the past.

There is agreement on that point. It WAS awful/better. But have these two people made an honest observation?

No. And here is why.

It is a challenge for many people to grasp the nuances of the past—or to accurately hold the facts and interpret their meaning. Hindsight is 20/20, but it is still jaundiced. Still, there are ways to measure our relationship with history. If we appraise our American past with care, it’s really interesting.

What Was the Greatest Era for Innovation? A Brief Guided Tour

We’re in the golden age of innovation, an era in which digital technology is transforming the underpinnings of human existence. Or so a techno-optimist might argue. We’re in a depressing era in which innovation has slowed and living standards are barely rising. That’s what some skeptical economists believe.

Source for this New York Times article.

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Stocks up? Not for some savvy small investors.

This shouldn’t really be a big surprise—and it is only one survey. But, Americans are able to vote in more ways than the seasonal pull of the lever. The wallet vote will make a big difference. rb

Survey: Real Estate Rules As Investing Choice | Bankrate.com

Given the recent record highs in the S&P 500 and the Dow Jones industrial average, you might think Americans would feel excited about the future of the stock market. But you’d be wrong, a Bankrate national survey has found.


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‘Financializing’ stretches its tentacles

How Private Equity Found Power and Profit in State Capitols

In an interview, Mr. Edens said that Fortress did not create Springleaf’s lobbying campaign, but supported it. Springleaf said it needed to raise costs to modify outdated laws and compete with less regulated lenders. And although Springleaf wants to raise costs on borrowers at a time of historically low interest rates, he said that the company was “so much more humane” than others offering high-interest loans.

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