It's not an issue with the theoretical concept of private equity, it's an issue with what these vehicles are being used to do in the real world. https://www.co

It's not an issue with the theoretical concept of private equity, it's an issue with what these vehicles are being used to do in the real world. https://www.counterpunch.org/2020/04/03/hospital-bailouts-begin-for-those-owned-by-private-equity-firms/ https://www.counterpunch.org/2020/04/03/hospital-bailouts-be... https://www.bing.com/search?form=MOZLBR&pc=MOZI&q=private+equity+bailouts https://www.bing.com/search?form=MOZLBR&pc=MOZI&q=private+eq... Outside of a your theoretical framework that is not what creating new wealth means to any normal person. If some businesses fail then so be it. You are trying to conflate that with what is being discussed by @doctorow. How about this. In turn, explain to me how these three activities create wealth instead of just redistribute it upwards: - government bailouts - selling off assets whose long-term value PE doesn't understand or care about - defaulting on pensions Those are the points I'm making, if you want to discuss something else, go ahead. >PE firms are good at separating productive assets from failing businesses Good for whom, and no, many of these businesses are not failing when PE sells off all their assets. Boeing did the same thing with much of the 787 production line and weren't in any financial trouble at all. EBITDA is just a short sighted power grab by finance capital. >provide very important liquidity The banks are just middle men for the Fed at this point, and stingy ones at that. The banks are so bad, it would be better for the Fed to just give the money to businesses directly. >funding good businesses that need scale This is more a critique of leverage in general, but this is how amazon put profitable competitors out of business by not turning a profit and is now cranking up profits probably beyond the point of sustainability. Also see https://qz.com/1250772/didi-vs-meituan-vs-ele-me-chinas-food-delivery-app-battle-means-basically-free-meals-for-users/ https://qz.com/1250772/didi-vs-meituan-vs-ele-me-chinas-food... and https://supchina.com/2018/01/09/didis-war-century/ https://supchina.com/2018/01/09/didis-war-century/