The notion that, left unguided, without any sort of of policy involvement, the market will solve our problems will not restore a balance between the obligations and rights of the private sector and working Americans. —Senator Marco Rubio, Nov. 5, 2019 Senator Marco Rubio and his common good capitalism advocates may mean well. But as Milton Friedman tells us, we don’t judge…
Photo by mentatdgt from Pexels The daily work of an executive is difficult and often stressful, but CEOs are not paid amply because their work is hard or unenjoyable. Doug McCullough Certain politicians and social critics would have us scandalized that the annual income of CEOs of large corporations is often several times that of the employees who work in…
Whether you’re a young graduate just starting your career or someone who is feeling the vocational version of the “Seven Year Itch,” the secret to professional development is taking control of the direction of your career. Many young professionals have been taught to ask for permission and seek guidance at every turn. At times this is understandable because young professionals…
Senator Elizabeth Warren is right that the path to wealth is through entrepreneurship. The senator recently released her “Leveling the Playing Field for Entrepreneurs” plan, a proposal that claims to help minorities who are starting businesses. This plan comes on the tails of her indignation toward wealthy Americans, referring to them as “freeloaders.” Perhaps she fails to realize that many…
CS Lewis, the famed author of The Chronicles of Narnia, once discussed the distinction between advancing ethics and advancing knowledge of facts. In Lewis’ view, ethics changes remarkably little over the years. What changes, and changes rapidly, is our knowledge of how the world works. This advancement of knowledge informs our application of ethical norms, and it is advancing knowledge…
Elizabeth Warren wants to bury private equity. Here’s why that is a bad idea. Free Enterprise and Private Equity I have a love-hate relationship with private equity. As a mergers and acquisitions attorney, I spend more of my time representing sellers of companies, or even corporate buyers, than representing private equity. I have had vigorous negotiations with private equity firms and their…