On Sep 16, 2007, at 11:22 AM, 3.3.3. wrote:
> I've got a really dumb question Doug, but are Private Equity firms
> and Hedge
> Funds results of actual deregulation, or just one of those
> "innovations"
> that big fund managers use to make their money move faster and without
> oversight?
I'm always under-informed on the legal angle, so I don't really know. But in any case the shareholder revo was a response to the long decline in profit rates and financial market performance from the mid-60s into the late 1970s.
> Is this article worth reading?
Yes. Jensen is worth reading as the prime theoretician of the shareholder revolution. He evidently has some problems with the way it's turned out, though.