Process
Status Items Output None Questions None Claims None Highlights Done See section below
Highlights
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As economist Brett Christophers has contended:
[Asset managers] own, and extract income from, things — schools, bridges, wind farms and homes — that are nothing less than foundational to our daily being… . Asset managers increasingly own and control our most essential physical frameworks, providing the most basic means of social functioning and reproduction.
👓 exploitation capitalism 🔗 View Highlight
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“Private equity” refers to an investment model where large funds, managed by professional investors, purchase non-stock-market-listed assets with a view to quickly increasing their headline value in order to make a profit selling them — much like flipping houses, but with businesses.
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the social purpose of an asset — or even its long-term ability to deliver a quality product or service — is entirely secondary to the change in its market price between purchase and resale.
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Wages, terms, and conditions are slashed, prices are raised, and business practices outside of core profit drivers are axed, regardless of their benefit to the community.