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Private equity's mountain of “dry powder” rose to record highs in 2020
- chrispeel 6y agoClayton Christensen described [1] this problem in 2012, and proposed capital gains tax changes to incentivize long-term investment and keep capital invested. In [2] I propose a modification to Christensen's tax that would even more sharply incentivize long-term investment and keeping capital at work. [1] https://www.nytimes.com/2012/11/04/business/a-capitalists-dilemma-whoever-becomes-president.html https://www.nytimes.com/2012/11/04/business/a-capitalists-di... [2] https://chrispeel.net/2021/02/02/a-lpf-on-the-market/ https://chrispeel.net/2021/02/02/a-lpf-on-the-market/