It’s hard to tell people not to be angry with capitalism when the system is rewarding failure with millions of dollars in bankruptcy bonuses.
Today on the Brief:
- A followup on Tesla, corporate earnings and PayPal’s crypto ambitions
- New COVID-19 shutdowns in California
- Small businesses on the brink
Our main conversation:
Bloomberg has reported recently bankrupt companies including J.C. Penney and Hertz had provided executives with more than $131,000,000 in bonuses.
On this episode of The Breakdown, NLW examines:
- The logic behind these bonuses
- Why that logic is stupid
- How this sort of reward for personal failure in the wake of 2008 led to the rise of populism on the right and left
- Why we should allow companies to fail
- Why people’s sense that the system is a crony system isn’t wrong