Publisher: M & M Scrivener Press; 1st edition (October 30, 2008)
Format: PDF / Kindle / ePub
Size: 6.7 MB
Downloadable formats: PDF
Capitalism took the blame for Enron. but Enron used to be something yet a free-market company, and company-architect Ken Lay used to be hardly ever a principled capitalist. to the contrary, Enron used to be a politically based corporation and, finally, a ugly end result of the United States s sleek combined economic system. that's the relevant discovering of Robert L. Bradley s Capitalism at paintings: The blame for Enron rests squarely with political capitalism - a approach within which enterprise pursuits mostly receive, and hire govt intervention for his or her personal pursuits on the fee of customers, taxpayers, and opponents. even if Ken Lay professed allegiance to loose markets, he used to be actually a consummate baby-kisser. in simple terms by way of manipulating the levers of presidency used to be Enron remodeled from a $3 billion usual fuel corporation to a $100 billion chimera, person who went from 7th position at the Fortune 500 checklist to financial ruin. yet Capitalism at paintings is going past unmasking Enron s refined foray into political capitalism. utilizing the undying insights of Adam Smith, Samuel Smiles, and Ayn Rand, between others, Bradley indicates how stylish anti-capitalist doctrines set the degree for the final word company debacle. these errant theories, like Enron itself, increased shape over substance, overlooked valid feedback, and bypassed midcourse correction. Political capitalism was once hence greater than the handiwork of profit-hungry businessmen and power-hungry politicians. It used to be a legacy of failed scholarship. Capitalism at paintings s penetrating, multidisciplinary clarification of the dying of Enron breaks new floor relating to company background, enterprise ethics, enterprise most sensible practices, and public guidelines towards company. As Bradley concludes: the basic lesson from Enron is that this: Capitalism didn't fail. The combined economic system failed. The capitalist worldview is better, no longer weaker, post-Enron. yet there's one other, deeper lesson that explains Enron and the errors of the highbrow mainstream ahead of, in the course of, and after Enron s lively existence. it's that smug habit, or what within the Enron vernacular is named the smartest-guys-in-the-room challenge, can strike every time and at any place. no matter if in company or academia or a occupation or organization conceit, deceit, and dogmatism are the bane of non-public, highbrow, and organizational good fortune .