Plagued by the realities threatening many retail stores, Sears also faces a unique problem (alternate link): [CEO Eddie] Lampert. Lampert runs Sears like a hedge fund portfolio, with dozens of autonomous businesses competing for his attention and money. An outspoken advocate of free-market economics and fan of the novelist Ayn Rand, he created the model because he expected the invisible hand of the market to drive better results. If the company’s leaders were told to act selfishly, he argued, they would run their divisions in a rational manner, boosting overall performance.
posted by Horace Rumpole
on Jul 12, 2013 -
The Incentive Bubble (ungated pdf) - "The fraying of the compact of American capitalism by rising income inequality and repeated governance crises is disturbing. But misallocations of financial, real, and human capital arising from the financial-incentive bubble are much more worrisome to those concerned with the competitiveness of the American economy." [more inside]
posted by kliuless
on Apr 3, 2012 -
I asked Nathan Myhrvold, C.E.O. of Intellectual Ventures and widely considered to be one of the smartest people in technology, if he is brilliant. "If you put yourself in that camp, you might be correct," he teased. "But then, you're also an asshole."The Brilliant Issue profiles Porfolio's picks for best game-changers, upstarts, rebels, connectors and other influencers. [more inside]
posted by Non Prosequitur
on May 2, 2008 -
Ghetto Capitalists At once an outsider and a welcome participant in the ghetto economy, he found that he was suddenly part of “a vast, often invisible web” of economic exchange. That web supports the residents of Maquis Park and adds a strange sort of order to their existence, tempering chaos and adding predictability to the lives of Chicago’s poor. For the most part, the people he meets seem eager to trade. It’s just that much of what they’re trading isn’t going to meet with the approval of a law-and-order Republican or a bleeding-heart Great Society Democrat.
posted by jason's_planet
on Sep 14, 2007 -