Coin-Flip Capitalism

The “Enormous Social Value” of Private-Equity Fees Share This

Oren Cass | Jul 01, 2020 | Coin-Flip Capitalism

Re: Populists Don't Know Much About Private Equity

The Wall Street Journal’s defense of private equity (“Populists Don’t Know Much About Private Equity”) is an impressionist masterpiece of market fundamentalism, relying on the unexamined assumption that fees paid to private-equity partners represent “social value.” One can simply step back and gawk in amazement, but true appreciation requires poring over each brushstroke.

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