Monthly Archives: July 2018

Executive Coaching Achieves Miracle Success, and Self-Parody, at Nortel

By William K. Black
July 10, 2018     Bloomington, MN

Economists generally focus on increasing productivity as the driver of development.  Among the most troubling economic developments in the West in the last decade is the weak gains in productivity, particularly in a time of rapid technological advances.  Neoclassical economics pictures firms as engaged in a fierce, endless battle for survival where failure is certain for firms that are even slightly less efficient that their rivals.  This struggle is supposed to produce relentless, rapid advances in productivity.  Something has gone very wrong with the neoclassical narrative of competition, productivity, and growth.

Weak productivity and efficiency is supposed to remedy itself.  The neoclassical (and Austrian) economics claim is that it creates a profit opportunity for entrepreneurs to enter who either will run a more productive firm or serve as consultant to explain to existing firms’ CEOs the secret of improving efficiency.  This series of articles focuses on one of these supposed examples of Austrian “spontaneous order” – executive coaching.

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Fed Lets Goldman Sachs and Morgan Stanley Off Hook, Investors Profit Billions

Even though Goldman Sachs and Morgan Stanley failed the so-called ‘stress test,’ to determine whether these banks can weather a financial crisis, the Fed allowed them to pay billions in dividends and stock buybacks to investors. Former financial regulator and NEP’s own Bill Black explains the consequences. You can view with transcript here.

Most Ignored and Most Far-Reaching Supreme Court Ruling Yet: Anti-Trust Law Hollowed Out

A major Supreme Court ruling, Ohio vs American Express, was completely ignored by most media outlets, even though it will have potentially devastating repercussions for consumers in the so-called ‘platform economy’: Uber, Lyft, AirBnB, Facebook, etc. NEP’s Bill Black explains the consequences. You can view with transcript here.