Managed by the Markets
Book description
The current economic crisis reveals just how central finance has become to American life. Problems with obscure securities created on Wall Street radiated outward to threaten the retirement security of pensioners in Florida and Arizona, the homes and college savings of families in Detroit and Southern California, and ultimately the…
Why read it?
1 author picked Managed by the Markets as one of their favorite books. Why do they recommend it?
What was arguably the most important factor in driving the different views that business leaders had after 1981 about how they should run their companies? The best answer comes from the dramatically greater role that investors started to play.
Their interests were always different from those of the CEOs and business leaders. The notion that businesses were accountable to “stakeholders”–community, employees, customers, and investors–shifted sharply to the view that there was only one stakeholder: investors.
Why and how this happened is one of the most important stories of the 20th Century and beyond.
From Peter's list on hate your job and dread job hunting.
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