Coin-Flip Capitalism
The “Enormous Social Value” of Private-Equity Fees Share This
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.