Politicians who never understand the tenets of the economist Joseph Schumpeter, will not accept the fact that private equity funds do a needed job. Schumpeter appreciated the role of capitalism’s “creative destruction.”
Private equity groups may clean up deadwood companies and use venture funds for startups, and thereby create far more jobs than they destroy. And even better, they initiate a more modernized and stable job picture than before.
Many companies they take over would have failed if left alone. (See the Earl J Weinreb NewsHole® comments.)
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