July 30, 2003

Carlyleism

In June The Economist reviewed the book The Iron Triangle on the Carlyle Group:

You need not be a conspiracy theorist, though, to be concerned about what lies behind Carlyle's success. Can a firm that is so deeply embedded in the iron triangle where industry, government and the military converge be good for democracy? Carlyle arguably takes to a new level the military-industrial complex that President Eisenhower feared might ´┐Żendanger our liberties or democratic process´┐Ż. What red-blooded capitalist can truly admire a firm built, to a significant degree, on cronyism; surely, this sort of access capitalism is for ghastly places like Russia, China or Africa, not the land of the free market?
It looks like an interesting and instructive read.

Posted by Steve on July 30, 2003
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