How strange

Mass ownership leads to short term thinking and long term thinking is needed.

Now Ritchie\’s the bloke who whines about wealth concentration and inequality, isn\’t he?

And yet here he is saying that mass ownership of wealth is a bad idea, it should indeed be concentrated.

Eh?

15 thoughts on “How strange”

  1. The problem is that Ritchies idea of concentration of ownership is probably a form of Nationalisation with the government or possibly the workers in the form of the unions owning the ….er… “means of production”.

    Did Labour get rid of clause 4 under Tony Bliar?

  2. What Ritchie ignores is that there is no meaningful factual data (or body of analysis) to support his conclusion.

    I know, big shocker there…

  3. What’s even stranger is the fact that he ignores the obvious: In publicly held corporations, management is tasked with “thinking” – both long-term and short-term – not ownership.

  4. no, what he’s arguing is that long-term thinking can only be done by people with the relevant training and experience. People who have, let’s say, an accountancy qualification and experience advising small businesses. Perhaps they have spectacles for added gravitas and they are widely respected as sage financial philosophers. People whose Christian name begins with, oooh, let’s say “R” to pick a letter entirely at random

  5. Completely off topic here, but on the theory that a blog post slagging off Ritchie is likely to get the most views and comments of any, I pose this question here in the hope that someone might know the answer.

    Why, when I visit this site, does one of the ads (presumably selected on the basis of my browsing habits) often come up as MatureDatingUK, with a picture of a buxom mature lady? I can see why some ads appear such as for hi-fis and the like because of my other site visits, but I do not frequent mature dating sites, or any dating sites, whilst at work or elsewhere, and the only thing I can think of that might indicate such a preference to advertising software is my clicking on occasional articles with pics of mature female stars in bikinis in the Daily Mail – would that be enough?

    Or is Google now trying to influence my preferences?

  6. BraveFart

    Thank God, you’re seeing it too. I thought it was only me.

    Maybe Tim’s readership has been profiled and as we’re deemed past it, they know we’re never going to pull any younger women.

  7. OT – but his latest missive:

    ‘RBS has identified 21 people involved with LIBOR rigging – and yet it seems more than half are still there. How come?’

    And then explains 6 dismissed, 8 left before dismissal, 1 dismissed for other reasons, 6 still undergoing disciplinary process.

    Apparently 6 is more than half of 21!

  8. @ BraveFart

    1) I think Tim’s suppositions on climate change get more views and posts.

    2) Ad-blocker? I never see any ads on here.. although if you start reporting buxom young ladies…

  9. Tim

    I think you’ve omitted even more classic phrases here:

    ‘First, many people will sell their shares – some, almost certainly, at an undervalue as people seek to buy entitlements. Massive steps would have to be taken to prevent that.’

    So apparently, people are no longer going to be able to sell shares in RBS if issued- Is this a prelude to the eventual elimination of the concept of a Stock market? Are we looking at total nationalisation of all industries in the next development of the ‘Global Courageous State’?

    ‘Fourth, this bank needs to deliver state policy on lending, not pander to lowest common denominator market demands. That’s how it got in the mess it’s in.’

    I wasn’t aware that it was part of RBS’ charter to ‘deliver State Lending policy’ – indeed it’s news to me that the state has a Lending policy. I guess Arnald is working additional shifts at the fryer, but perhaps he (or anyone else game) would care to enlighten me the difference between this and one of the old Soviet bloc states?

  10. Bravefart, can we swap? My ads coming up are about brown cardboard boxes or business finance. Nothing as exciting as buxom women….

  11. Ritchie’s thinks mass ownership is when an entity is owned by lots of people. He prefers ownership by a single entity by shared by the masses – nationalisation. That way everyone has an equal share, none.

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