I have participated in several conferences and numerous other discussions regarding corporate governance since the spreading calamity enveloped us all last autumn, and one distressing fact keeps leaping out at me: the corporate governance debates have not adjusted at all to the fact that there has been a catastrophic failure of the economic system. People are still discussing the same sorts of palliatives, with the same lack of urgency, that they were doing when GDP growth was forecast at 3% per Read more [...]
The Wall Street Journal just ran an op-ed piece by a literature professor entitled "Will This Crisis Produce a 'Gatsby'?" I took issue with the theme, not only because it seriously mis-used one of the great works of American literature, but also because it revealed a fundamental flaw in the thinking of American intellectuals when it comes to the American experience, the 'American Dream,' and to the common man's hopes for prosperity in general.
The Great Gatsby was published in 1925. It does Read more [...]