Why the American economy isn’t working for most Americans in the age of shareholder capitalism

The inevitable logic of CEOs, private equity, and “activist investors”

Friends,

I am not crying for Carl Icahn, who has lost about $17 billion over the last few weeks as investors have fled Icahn Enterprises stock.

I’m talking about it today because the saga offers an important lesson about why the American economy hasn’t been working for most Americans in this era of shareholder capitalism.

Icahn was one of the first of the…