Quoted in an Article for the Baffler Magazine on a Report on the Private Equity Industry
I was quoted in the March edition of the Baffler magazine in an article written by Whitney Curry Wimbish called 'Misery Makers'. It is an article on the private equity industry and its ability to make money out of economic failure, often when those failures are engineered by investors themselves. I spoke previously to Whitney about what this meant for the conventional frames of reference we use to discuss the economy, especially those which typically suggest that 'the market' has an omniscience which allows it to reward good economic practices with higher levels of return. However, private equity investors often enrich themselves directly at the expense of the firms and the employees in whom they invest. This trait of modern finance raises significant questions about how to apply the conventional market frame.