The Ohio Town Ravaged by Private Equity

The transcript discusses the economic challenges faced by American towns, focusing on the impact of financialization and private equity. It highlights the implications of new tax laws, particularly carried interest, and the tension between corporate responsibility and shareholder interests. The discussion also touches on the rise of the gig economy and its effects on social contracts and community integration.

What is one of the main consequences of financialization on towns like Lancaster, OH?

• Economic stability

• Increased employment opportunities

• Higher tax revenues

• Bankruptcy of major employers

How does the new tax bill affect carried interest?

• It makes carried interest tax-free

• It increases the tax rate on carried interest

• It leaves carried interest mainly unchanged

• It eliminates carried interest

What is a key part of the private equity playbook?

• Community investment

• Environmental sustainability

• Carried interest

• High employee wages

According to the transcript, what was the old model of corporate responsibility?

• Focusing solely on shareholder profits

• Integrating into the community and nation

• Expanding globally

• Maximizing executive bonuses

What concern is raised about the gig economy?

• It increases job security

• It strengthens community bonds

• It challenges the social contract and sense of community

• It reduces individualism