Edward Conard is author of the recently-released New York Times bestseller, Unintended Consequences: Why Everything You've Been Told About the Economy is Wrong. In his new book, Conard attempts to set the record straight and fill the void left by other business and economic analysts. He presents a fascinating and contrarian case for how the economy really works, what went wrong over the past decade, and what steps we can take to start growing again.
Bio
Edward Conard
Edward Conard is author of the recently-released New York Times bestseller, Unintended Consequences: Why Everything You’ve Been Told About the Economy is Wrong. In his new book, Conard attempts to set the record straight and fill the void left by other business and economic analysts. He presents a fascinating and contrarian case for how the economy really works, what went wrong over the past decade, and what steps we can take to start growing again. Conard was a partner at Bain Capital from 1993 to 2007. He served as the head of Bain’s New York office and led the firm’s acquisitions of large industrial companies. Prior to Bain, Conard worked for Wasserstein Perella, an investment bank that specialized in mergers and acquisitions, and Bain & Company, a management consulting firm, where he headed its industrial practice. He is a graduate of Harvard Business School and the University of Michigan.
Edward Conard, author of Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong, shows evidence that bank withdrawals had a large role in the recent economic crisis.
Set of principles and techniques by which a society decides and organizes the ownership and allocation of economic resources. At one extreme, usually called a free-enterprise system, all resources are privately owned. This system, following Adam Smith, is based on the belief that the common good is maximized when all members of society are allowed to pursue their rational self-interest. At the other extreme, usually called a pure-communist system, all resources are publicly owned. This system, following Karl Marx and Vladimir Ilich Lenin, is based on the belief that public ownership of the means of production and government control of every aspect of the economy are necessary to minimize inequalities of wealth and achieve other agreed-upon social objectives. No nation exemplifies either extreme. As one moves from capitalism through socialism to communism, a greater share of a nation's productive resources is publicly owned and a greater reliance is placed on economic planning. Fascism, more a political than an economic system, is a hybrid; privately owned resources are combined into syndicates and placed at the disposal of a centrally planned state.