Great article from Simon Caulkin. Here is a flavour:
"Not a day passes without some fresh underlining of Baum’s message
(and it’s not just the US): fraud at FIFA, in athletics and in tennis;
Tesco exploiting suppliers; Sports Direct exploiting employees;
charities (for God’s sake) exploiting donors; yet more bank penalties
(up to a global $150bn since the financial crisis and counting); Libor
fallout; Kids’ Company; and VW.
There is, of course, a link between all these organisations. Their misfortunes were made by the people who work in them.
They were manmade, or, to be clearer, management-made"
N.B. Mark Baum is the character based on a real-life investor, in The Big Short, the 2015 film adaptation of Michael Lewis’s unpicking of 2008’s global financial crisis. Baum is a capitalist investor, not a revolutionary.
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