> this failure mode of self-destructive financialization seems incredibly common among american firms. what's at the root of this contradiction? Jack Welch iro

> this failure mode of self-destructive financialization seems incredibly common among american firms. what's at the root of this contradiction? Jack Welch ironically got it right (eventually): > On the face of it, shareholder value is the dumbest idea in the world. Shareholder value is a result, not a strategy...your main constituencies are your employees, your customers and your products. * https://en.wikipedia.org/wiki/Jack_Welch#Politics https://en.wikipedia.org/wiki/Jack_Welch#Politics Of course many of the top post-MD-merger executives were from MD and were Welch acolytes.