Why Capitalism Without Owners Has Failed

This article raises an interesting argument that needs to be further explored. It questions the role that investors play as the owners of corporations. It argues that professional investors are motivated to produce short term gains. On Wall Street today those gains can be measured in highly leveraged nano seconds. This produces a gap between investor interests and the public interest. It also leads to asset bubbles and volatility which leads many investors to seek safer assets such as gold which has no intrinsic value and may be more dangerous. The question turns to the problem of funneling capital to owner operated businesses that produce jobs and have a longer time horizon.