CW 743 - Ed Conard - Unintended Consequences: Why Everything You've Been Told About the Economy is Wrong

Guest Ed Conard is an economist who worked with Mitt Romney at Bain Capital, he is the New York Times Bestselling Author of Unintended Consequences: Why everything you’ve been told about the economy is wrong and his upcoming book, The Upside of Inequality: How Good Intentions Undermine the Middle Class promises to educate and enlighten. Discussions during this podcast include misnomers about CEO pay, why the technology sector is wildly profitable and how a complex web of regulations may be only benefiting the big players in the market. Ed Conard Guest Interview: [3:52] Ed Conard worked at Bain Capital with Mitt Romney during which time they experienced exponential growth. [5:54] The two types of opportunities people invested with Bain Capital are capital investment and management supervision related opportunities. [7:31] Bill Bain used a higher risk strategy and took advantage of undervalued investment opportunities. [9:45] The Upside of Inequality showcases the productivity of the American work force. [14:42] Is negotiating for a bigger piece of the pie accelerating the US economy? [17:11] CEO pay may not be as outrageous as the headlines lead us to believe. [22:00] The tech sector pays less taxes and has minimal regulation as compared to other sectors who are constantly looking for regulatory loopholes to give them a competitive advantage.   [23:46] The rise of profitability in the tech sector has been extraordinary. [24:47] The economy is squeezing the profitability out of every most other sectors.   [27:09] Properly trained talent and a willingness to take risk are the binding constraints to growth in this new economy.   Mentioned in This Episode: Jason Hartman - Now with New Features! Hartman Education Edward Conard @edwardconard on Twitter

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