EclectEcon

Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca


. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Friday, June 24, 2005

The Locusts of Private Foreign Investment

From The Smart Economist [see the blog ad to the right to sign up for their free newsletter]

MUENTEFERING ON PRIVATE-EQUITY INVESTMENT

Franz Muentefering, Chairman of the German ruling Social Democratic Party, launched an attack to foreign investors who seek what he described as "short-term gains" by comparing private-equity firms to the biblical plague of locusts that descended on Egypt, stripping it of vegetation.

- True, private-equity firms can be ruthless, but they strip underperforming company managers of their jobs, rather than the economic flora in foreign countries.

 
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