Private Equity as a Wealth Recycler

Benoit Leleux
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Benoit Leleux: IMD (International Institute for Management Development)

Chapter 6 in Progress-Driven Entrepreneurs, Private Equity Finance and Regulatory Issues, 2010, pp 147-162 from Palgrave Macmillan

Abstract: Abstract Rooted at the heart of capitalism is the belief that the system, with all its flaws and inbuilt inequalities, remains the most efficient asset allocator; that is, that it is best able to channel scarce resources (money, capital and technologies) into their most efficient uses. In other words, while it may be difficult to support it philosophically or ethically, a capitalistic economic system proves its worth every day in its ability to generate the largest amount of wealth. Ethics and philosophy can then be employed to determine how best to allocate the created wealth.

Keywords: Venture Capital; Private Equity; Wall Street Journal; Venture Capital Fund; Portfolio Company (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24493-1_6

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DOI: 10.1057/9780230244931_6

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