[lbo-talk] rentier punishment of invesment.

[bhandari at berkeley.edu]

I have been really struck by Doug's pithy formulation of the rentier
punishment of investment. I think that we need to explore the shareholder
revolution. Even when profits are retained, they are often not used for
accumulation but paring down debt, buying back stock, and merging and
acquiring. That is, profits have often not been used for accumulation  as
if
rentiers have punishing investment and at times forcing shut downs and
sell offs of assets.
Any reading suggestions other than of course Doug's Wall Street which I
shall revisit. I remember Doug quoting Jensen on the problem of disgorging
cash.
Rakesh