Private Equity and the Demise of the Local : The Loss of Community Economic Power and Autonomy
Book Details
Format
Paperback / Softback
Book Series
Elements in Reinventing Capitalism
ISBN-10
1009321846
ISBN-13
9781009321846
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
May 23rd, 2024
Print length
98 Pages
Weight
160 grams
Dimensions
22.80 x 15.20 x 0.80 cms
Ksh 3,250.00
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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.
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.
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