Makers and Takers
The Rise of Finance and the Fall of American Business
About the book
Economic columnist Rana Foroohar argues that Wall Street no longer backs the Main Street companies that create jobs, and that the financialization of America, finance's spread across business, keeps Wall Street dominant over Main Street. Drawing on interviews in Wall Street and Washington, she traces how forty years of policy decisions, a tax code favoring debt over equity, and spending more on stock buybacks than on research have pushed companies toward short-term profit. Only about 15 percent of money in the market system reaches the real economy, while finance takes a quarter of corporate profits, she notes, and creates 4 percent of jobs. She contrasts Takers with Makers. An updated edition links the financial system to Donald Trump's rise.
Robert Kiyosaki said Foroohar shows how business schools train their brightest students to manipulate the stock market rather than grow businesses, which he gave as his reason for dropping out of business school.
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Robert Kiyosaki (Best-selling Author)
She’s talking about how business schools teach students, the best and brightest business students in America and the world, they teach them to manipulate the stock market, not to grow businesses. That’s why I dropped out of business school. They’re teaching kids to be financial engineers, which creates derivatives, and all these toxic things. Student loan debt and all this. But they don’t teach them how to grow a business. Today our stock market is propped up because CEOs are using debt to prop up the stock price and sell their options and exit. It screws the investors and the workers. That’s what they’re teaching at business school today.
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