What would Adam Smith say?
By John Schroy, on March 11th, 2010 |

Most corporate executives of giant companies today are, in actuality, mere employees (‘workers’ in communist jargon) and are not capitalists or entrepreneurs at all.
Their extraordinary remuneration schemes are provided without executives having employed or having risked any of their own capital and is often paid, even as a corporation slides into bankruptcy.
Adam Smith recognized self-interest as a useful trait, but one that should not be allowed to override the nobler virtues.
Corporate governance
By John Schroy, on March 10th, 2010 |

The webcast, This Week in the Boardroom, for February 25, 2010, discusses the issue of stock buybacks with Stephen Lamb, partner of Paul Weiss, a large international law firm prominent in the securities industry.
Wall Street seems to have learned little from the Crash of 2008. The big law firms understand that the safe harbor provided by SEC Rule 10b-18 is still firmly in place; shareholders will continue to be defrauded by employee-directors with impunity.
US tax policy
By John Schroy, on March 7th, 2010 |

If we are to believe the old adage that, ‘people vote their pocketbooks’, why are so many of the Super-Rich ardent supporters of the Democratic Party?
Why do the liberal Super-Rich seem to act in a way that is so contrary to their selfish interests and economic well-being?
Here I show how capital flow analysis of the Federal Reserve flow of funds accounts provides an answer to this apparent conundrum.
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