CEOs and Banditry

Read these two articles:
Reason Magazine’s Why Poor Countries Are Poor, and The Oncoming Credit (Card) Crisis.

Somehow I suspect these two articles are related in theme. The reason CEOs milk shareholders through short-term strategies is precisely the same reason why short-lived dictators in Cameroon plunder from their people. Acting purely in self-interest, there is no reason grow the pie, but to take as much of it as one can.

This is why I think firing bad CEOs is the worst thing one can do. Demote them; Make them turn up to work on a minimal salary for 15 years; See that they’ll never get another job for the duration of their working lives. A permanent window seat with no responsibilities. The equivalent of jail time for people who ought to have known better.