Private Equity and the Demise of the Local - The Loss of Community Economic Power and Autonomy

Capitalism is a powerful engine that requires finance. Private equity is part of the neoliberal transformation of capitalism that has failed the average citizen and unleashed a tsunami of leveraged acquisitions that have destroyed entire sectors of our economy. Private equity has become a powerful force that has moved from restructuring industrial firms to buying up just about any economic activity in local communities that has assets that can be monetized, without any consideration of the impact on the quality of life and well-being of the community. Th a process has been aided and abetted by government policy. The authors of this Element explain the workings of the private equity model and the reasons it has been so profitable. They document the effects of PE on firms and communities by examining a range of activities that once had a local focus. They conclude by offering policy recommendations.

Sommario

1. The state of the nation; 2. The private equity model and the looting of local economies; 3. Surveying the demise of the local; 4. What kind of future do we want?; References.

Riassunto

This Element explains the workings of the private equity model and the reasons for its profitability. The effects of PE on firms and communities have been documented by examining a range of activities that once had a local focus. Policy recommendations are mentioned.

Dettagli sul prodotto

• Autori: Maryann Feldman, Feldman Maryann, Martin Kenney, Kenney Martin
• Editore: Cambridge Academic
• Lingue: Inglese
• Formato: Copertina rigida
• Pubblicazione: 31.05.2024
• EAN: 9781009517201
• ISBN: 978-1-00-951720-1
• Dimensioni: 158 mm x 235 mm x 11 mm
• Peso: 290 g
• Illustrazioni: Worked examples or Exercises
• Serie: Elements in Reinventing Capitalism
• Categorie: Saggistica > Politica, società, economia > Politica; Scienze naturali, medicina, informatica, tecnica > Scienze naturali, tematiche generali; Scienze sociali, diritto, economia > Economia > Management; Business & Economics / Investments & Securities / General, Capitalism, BUSINESS & ECONOMICS / Economics / General, Small businesses & self-employed, BUSINESS & ECONOMICS / Development / General, BUSINESS & ECONOMICS / Small Business, BUSINESS & ECONOMICS / Development / Economic Development, SOCIAL SCIENCE / Developing & Emerging Countries, economic growth, Economic systems & structures, Small businesses and self-employment, Development Studies, Investment & securities, Investment and securities, BUSINESS & ECONOMICS / Freelance & Self-Employment