A Quote by Kenneth C. Griffin
We're subject to the same forces of capitalism that have built the entire American economy. Strong returns induce more capital flow, which creates more competitors, and you have to evolve and get better, or you die.
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In snowboarding, I've always looked at really strong competitors through a lens of gratitude rather than envy in the sense that the better my competition is, the more it forces me to work hard, focus, and be better myself if I want to succeed, which I do.
An increase in the productivity of labour means nothing more than that the same capital creates the same value with less labour, or that less labour creates the same product with more capital.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital from static to more dynamic situations, the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth of the economy.
What an economy really wants, after all, is not more investment per se but better investment. It wants capital to flow to companies that will create value - not in the form of a rising stock price but in the form of more goods for less cost, more jobs, and rising wages - by enhancing productivity.
Traditionally in capitalism, when you have more cash, you can fund more activity, which produces more jobs and creates more wealth. That's basic economic theory.
Doing the same things you did when the economy was good is not good enough. You will have to put more coals on the fire in a poor economy to get the same heat you received in a good economy. You must give more energy, more thought, more service, and get into positive thinking material more frequently. Become more selective about who you spend time with. Love a little more, hate a little less. Think about it. You can progressively move on an upward path toward any goal. The choice is yours as to who or what controls you!
The development of oil and gas resources depends more on capital than labour, and exporting oil and gas neither generates maximum returns from these precious resources nor creates large numbers of jobs within the local economy. As a result, the benefits are typically not shared broadly across society.
We can make market forces work better for the poor if we can develop a more creative capitalism-if we can stretch the reach of market forces so that more people can make a profit, or at least make a living, serving people who are suffering from the worst inequities. ... You have more than we had; you must start sooner, and carry on longer.
The American capitalists are richer and stronger than their counterparts in other lands. They are also younger and more ignorant, and therefore more inclined to seek a rough settlement of difficulties without diplomatic subtlety and finesse. All that does not change the fact that American capitalism operates according to the same laws as the others, is confronted with the same fundamental problems, and is headed toward the same catastrophe.
Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.
Families, when they get a housing voucher, they move a lot less. They move into better neighborhoods. Their kids go to the same school more consistently. Their kids have more food, and they get stronger. There are massive returns.
But suppose, for the sake of argument, free competition, without any sort of monopoly, would develop capitalism trade more rapidly. Is it not a fact that the more rapidly trade and capitalism develop, the greater is the concentration of production and capital which gives rise to monopoly?
The better side of Wall Street is when it is acting as an efficient mechanism of capital formation and capital flow, which helps businesses invest.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.
The advantage of the free market system is that people invest their capital, they create jobs by investing their capital, and hopefully they get a return on that investment. I don't think there's anything wrong with good old American capitalism.
The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
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