Even though there has yet to come a gallon of liquid fuels from the company, it has managed to create a lot of paper wealth for Harry R.
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While Japan was investing in high-tech industries the United States was simultaneously accelerating the financialization of its economy, creating trillions of dollars of paper wealth that has largely vanished over the last two years.
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Chief among them is that Mr Son seems to have built an investment machine that is sucking in ever-increasing amounts of cash but, despite the fabulous paper wealth that the firm is generating, spewing out only dribbles of money at the other end.
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Kadlec in the latest issue of Forbes Magazine, simply examines the data showing that that the gold standard worked better at creating jobs and wealth than does paper.
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On Wall Street it creates true wealth, not just the paper kind.
It would be nice if wealth could be created by handing out pieces of paper.
In a new National Bureau of Economic Research paper, the three economists argue that earlier analyses overstate the wealth effect because they do not account for the fact that people who expect to earn more in the future may bid up house prices.
The paper said that Blackstone was creating a consortium, thought to include a Chinese sovereign wealth fund, to make the bid.
Ultimately Gates and Buffett should be free to dispose of their wealth as they wish, but just once it would be nice to pick up the paper and read about an industrialist unabashedly holding on to all his money.
The US and Sweden are very far apart, when it comes to inequality, but if you look at wealth inequality rather than income inequality which is the subject of the Norton and Ariely paper then countries tend to look more alike than different.
In a recent paper, Hurst, along with colleague Annamaria Lusardi of Dartmouth, splashed cold water on the purported correlation between wealth and entrepreneurship.
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