{"id":4617,"date":"2021-07-12T10:42:00","date_gmt":"2021-07-12T14:42:00","guid":{"rendered":"https:\/\/americancompass.beckandstone.com\/?p=4617"},"modified":"2023-08-21T07:10:06","modified_gmt":"2023-08-21T11:10:06","slug":"coin-flip-capitalism","status":"publish","type":"post","link":"https:\/\/americancompass.org\/coin-flip-capitalism\/","title":{"rendered":"Coin-Flip Capitalism"},"content":{"rendered":"\n<section id=\"collection-block_cf5a419b6a0a41700504e79778e5c9e6\" class=\"collection-block\">\n\t<header class=\"collection-block__header\" style='background:url(https:\/\/americancompass.org\/wp-content\/uploads\/2021\/07\/CFC-background.jpg) no-repeat; background-position: center; background-size: cover;'>\n\t\t<div class=\"container\">\n\t\t\t<div class=\"collection-block__header-box\">\n\t\t\t\t<h5 class=\"collection-block__title\">COLLECTION \u2022 JULY 12, 2021<\/h5>\n\t\t\t\t<h1 class=\"collection-block__subtitle\">Coin-Flip Capitalism<\/h1>\n\t\t\t\t<div class=\"collection-block__description\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/header>\n\t<div class=\"container collection-block__content\">\n\n\t\t\t\t\t<div class=\"collection-block__posts\">\n\t\t\n\n\n\t\t\t\t\n\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post-author\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWells King\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/coin-flip-capitalism-a-primer\/\">Coin-Flip Capitalism: A Primer<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>An overview of the hedge fund, private equity, and venture capital industries and the implications of their recent performance.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post-author\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tOren Cass\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/confronting-coin-flip-capitalism\/\">Confronting Coin-Flip Capitalism<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>This paper presents the case for policymakers who favor free markets and appreciate the value of a well-functioning financial system to reform the rules governing that system.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post-author\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tChris Griswold\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/no-need-to-speculate\/\">No Need to Speculate<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>Opponents of a financial transaction tax seem less intent on persuading than on covering for the generic impulse that financial markets shall not be impinged upon. That impulse should be resisted.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/the-returns-counter\/\">The Returns Counter<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>Comprehensive benchmarking of the hedge fund, private equity, and venture capital industries against public-market indexes, updated quarterly.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post-author\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWells King\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/coin-flip-capitalism-update-q2-2021\/\">Coin-Flip Capitalism: Q2 2021 Update<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>A review of hedge fund and private equity performance through the COVID-19 market crash.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post-author\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWells King\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/coin-flip-capitalism-update-q4-2020\/\">Coin-Flip Capitalism: Q4 2020 Update<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>A review of the latest developments in private finance and the latest update to the Returns Counter.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post-author\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWells King\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/coin-flip-capitalism-update-q3-2020\/\">Coin-Flip Capitalism: Q3 2020 Update<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>Commentary on developments in private finance and the Coin-Flip Capitalism debate as of Q3 2020<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"collection-block__post\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"collection-block__post-title\"><a href=\"https:\/\/americancompass.org\/returns-counter-sources-methodology\/\">Returns Counter Methodology<\/a><\/h4>\n\t\t\t\t\t<div class=\"collection-block__post-description\"><p>Sources and methodology for the Coin-Flip Capitalism Returns Counter.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t<div class=\"collection-block__wrapper-card\">\n\t\t\t<div class=\"collection-block__card\">\n\t\t\t\t\t\t\t\t<div class=\"collection-block__card-inner\">\n\t\t\t\t\t<div class=\"collection-block__card-description\">\n\t\t\t\t\t\t<h5>Overview<\/h5>\n<p>High-flying financial firms attract a disproportionate share of the nation\u2019s business talent, fund lavish compensation through fees charged to public pension funds and non-profit endowments, and shape the behavior of companies in the real economy. Yet their status as a political football prevents examination of what they really accomplish\u2014one side happily vilifies them simply because they represent capital, while the other grants them praise on the presumption that profitable market activity is inherently valuable.<\/p>\n<p><strong><em>Coin-Flip Capitalism<\/em>\u00a0<\/strong>aims to help policymakers and the public better understand how the hedge fund, private equity, and venture capital industries function, what social and economic value they create or destroy, and how policy should respond.\u00a0Wells King\u2019s primer\u00a0introduces the relevant topics and explains why they are subjects of public concern, while the Guide to Private Equity provides an in-depth exploration of the industry\u2019s problems.\u00a0Oren Cass lays out the key failures of modern financial markets and proposes a series of substantial reforms to\u00a0shift capital toward productive investment, and Chris Griswold makes the empirical, pro-market case for a financial transaction tax. Finally, the\u00a0<strong>Returns Counter<\/strong>\u00a0aggregates financial returns data into a comprehensive set of quarterly performance benchmarks for each industry.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div id=\"end\"><\/div>\n\t\t\t\t\t<div class=\"read-more\">\n\t\t\t\t\t\t<button type=\"button\">Read More<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Coin-Flip Capitalism\u00a0aims to help policymakers and the public better understand how the hedge fund, private equity, and venture capital industries function, what social and economic value they create or destroy, and how policy should respond.<\/p>\n","protected":false},"author":43,"featured_media":5223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_tec_requires_first_save":true,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"_tribe_blocks_recurrence_rules":"","_tribe_blocks_recurrence_description":"","_tribe_blocks_recurrence_exclusions":"","footnotes":""},"categories":[19,204,282,183],"tags":[25],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - 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