Thursday, May 03, 2012
Guests: Pippa Malmgren
Produced by: Ben Gottlieb
Over the past year, “We are the 99 percent” has become a near-ubiquitous expression of solidarity against income inequality. It’s growing and many cite it as a fundamental problem with our economy. But not Edward Conard, the former managing director of Bain Capital.
In a new book called “Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong,” Conard outlines why he believes those who occupy the wealthiest percentile in this country are also contributing the most to the economy.
After being highlighted in an article by Adam Davidson in the New York Times, his argument has become the topic of much conversation. We’re taking a closer look at it with one of its supporters, Pippa Malmgren, president and founder of Principalis Asset Management.
“When I look around, I see a…shortage of people and investors willing to take those risks. That doesn’t indicate to me that risk takers, as a whole, are overpaid. Quite the opposite.”
— Edward Conard