December 10, 2014 – Capital As Power

Category: Blog/Featured

Stock Buybacks vs Greenfield Investment

Posted On December 10, 2014September 23, 2021 By Jonathan Nitzan

Jonathan Nitzan In his November 29, 2013 piece, ‘Low Capex, High Market Cap: A New High for Corporate Sabotage?’, Edward Lam lends support to CasP’s sabotage thesis by showing how firms with relatively low ‘greenfield’ investment outperform those with relatively high ‘greenfield’ investment. A recent FT article, titled “Money Well Spent?” (Tom Braithwaite, Nicole Bullock […]

Category: Blog/Featured

The Rise and Fall of Debate in Economics

Posted On December 10, 2014September 23, 2021 By Joe Francis

Joe Francis New data illustrate the extent to which economists have stopped discussing each other’s work. Once upon a time, economists regularly used to publicly criticise each other’s work in academic journals. But not any more. In Figure 1 I have illustrated the degree to which economists have stopped debating. The data have been culled […]