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.
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© 2010 Benoit Leleux
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Leleux, B. (2010). Private Equity as a Wealth Recycler. In: Progress-Driven Entrepreneurs, Private Equity Finance and Regulatory Issues. Palgrave Macmillan, London. https://doi.org/10.1057/9780230244931_6
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DOI: https://doi.org/10.1057/9780230244931_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-35380-4
Online ISBN: 978-0-230-24493-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)