Chris Banescu

‘Atlas Shrugged’: From Fiction to Fact in 52 Years

The Wall Street Journal | by Stephen Moore| January 9, 2009

Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read “Atlas Shrugged” a “virgin.” Being conversant in Ayn Rand’s classic novel about the economic carnage caused by big government run amok was practically a job requirement. If only “Atlas” were required reading for every member of Congress and political appointee in the Obama administration. I’m confident that we’d get out of the current financial mess a lot faster. [Read more…]

A Primer on Capitalism

Capitalism Freedom Private Propertyby Chris Banescu –
In today’s turbulent financial times and difficult economic conditions, a lot of unjustified criticism and unwarranted accusations have been laid at the doorstep of capitalism. Many in the mainstream press and academia, a majority of politicians, and a large number of Americans have jumped on the bandwagon and unfairly blame capitalistic principles for the huge mess that we are in. Such widespread confusion evidences a misunderstanding by many Americans of how value is actually created in society and what capitalism really represents.

All societies, in order to prosper, grow, and take care of its citizens must create new value to sustain its economy and support an expanding population. Common sense and experience dictate that there are only three (3) possible ways for anyone in life to have, create, or obtain value (monetary or economic) or acquire any assets (property) to be able to live or sustain oneself or one’s family: [Read more…]

US Corporate Tax Rates vs. World’s Largest Economies

Comparing US Corporate Tax Rates to the World’s Largest Economies (2008)
The United States is the world’s largest economy. When compared to the next 14 countries that represent the world’s largest economies (number 2 through 15) by gross domestic product (GDP) as of 2008, here’s how the US stacks up. (Wikipedia & CIA World Factbook) [Read more…]

The Employee Whisperer

Fast Company | by Kate Rockwood | November 2008

How Kenexa is blending psychology and technology to create passionate workers.

At the suburban Philadelphia offices of Kenexa, people grin at one another all day long. Sometimes they hug. Bright posters of the company’s guiding principles dot the walls: YOU’RE ALLOWED TO LAUGH YOUR WAY THROUGH A PROBLEM AND MAKING FRIENDS REPLACES OUR ORGANIZATIONAL HIERARCHY. The CEO, Rudy Karsan, spouts odd koanlike talk: “The world is like a roomful of jars. Every time you open a jar, there’s untold treasure in there.” [Read more…]

Buy American Stocks, I Am

Buy American Stocks, I Amby Warren E. Buffet – Oct. 17, 2008

The financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.

So … I’ve been buying American stocks. This is my personal account I’m talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities. [Read more…]

Should Your People Come Before Your Customers?

InformationWeek | by Rob Preston | Sept. 29, 2008

One school of thought is that if you treat your people right, they’ll be far more motivated and equipped to engage with (and maximize returns from) your customers.

The customer comes first. It’s considered a business management truism. The way to boost profits and market caps is to focus on the people who buy your products. “Delight” them, as former GE chief Jack Welch would say. Create relationships that foster brand loyalty and return business. Management experts C.K. Prahalad and M.S. Krishnan go a step further, exhorting companies to “co-create value” with their customers, one customer at a time. [Read more…]