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Duff McDonald

Duff McDonald is the author of The Golden Passport: Harvard Business School, the Limits of Capitalism, and the Moral Failure of the MBA Elite (Harper Business, 2017) and The Firm: The Story of McKinsey and Its Secret Influence on American Business (Simon & Schuster, 2014).
Articles by Duff McDonald

Managing Decline: The Economy of Value Extraction

As I sit down to write, the coronavirus has completely paralyzed the U.S. economy. At this juncture, most conversations that are not about the plague seem a little off point. But some—like the ones in William Lazonick and Jang-Sup Shin’s recently published book, Predatory Value Extraction—are having their moment, too. Yes, it’s time to talk about share buybacks. Because they are, as Lazonick and Shin argue so persuasively, key to capitalism’s future…

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