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Writing in the Harvard Business Review in September 2014, William Lazonick blamed record corporate stock buybacks for reduced investment in the economy and a corresponding impact on prosperity and income inequality. Between 2003 and 2012, the 449 companies in the S&P 500 used 54% of their earnings ($2.4 trillion) to buy back their own stock.
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
The terms "corporatocracy" and "corporatism" are often confused due to their similar names and to the use of corporations as organs of the state. Corporatism developed during the 1850s in response to the rise of classical liberalism and Marxism , and advocated cooperation between the classes instead of class conflict .
Although corporatization is to be distinguished from privatization (the former involves publicly owned corporations, the latter privately owned ones), once a service has been corporatised it is often relatively easy to privatise or part-privatise it, for example by selling some or all of the company's shares via the stock market. [5]
Examples given for crony capitalism include obtainment of permits, government grants, [2] tax breaks, [2] or other undue influence from businesses over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works. [3]
Through the beginning of the 20th century, the federal government had a relatively small role to play in education, and its contributions focused mainly on providing opportunities to students who would later become an important part of a well-functioning economy. This tact changed following the Great Depression and World War II though.
Confessions of an Economic Hit Man is a semi-autobiographical book written by American essayist John Perkins, first published in 2004. [1] [2] [3]The book provides Perkins' account of his career with engineering consulting firm Chas. T. Main in Boston.
Secondary students in these countries are taught structured essay formats to improve their writing skills, and essays are often used by universities in these countries in selecting applicants (see admissions essay). In both secondary and tertiary education, essays are used to judge the mastery and comprehension of the material.