A situation where people can grow old without having a job that rewards them individually while adding to the collective well-being is morally unacceptable.
High leverage is unsafe, not just for a company but the entire economy... LBOs are reducing the safety. Management loses the power to do many things. It has no margin for error and less margin for additional risk.
Is it important that the rent of
land be retained as a source of
government revenue. Some persons
who could make excellent use of
land would be unable to raise money
for the purchase price. Collecting
rent annually provides access to
land for persons with limited
access to credit.
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