OK, now I am sure I have to read this book. (All 700 pages!)
Here is James Pethokoukis’ take on Thomas Piketty’s new book that was mentioned in class yesterday.
This is a political editorial, and so you can take from it what you wish. But Williamson does cite some compelling data about the link between intact family structure and poverty (or its avoidance). Additionally, he draws the reader’s attention to income mobility, which is a much more accurate reflection of economic reality in the United States than income inequality, for reasons he notes in the piece. In light of the huge role that family business plays in U.S. (and global) economics, I thought it was an interesting tie-in. After all, when family businesses are very successful, they do lift entire generations out of poverty and often into wealth. Whereupon those who advocate for estate taxes argue that it should be given back. Again, interesting.
I love the idea of social enterprises and benefit corporations – businesses dedicated to generating financial as well as social returns. This article provides a cool glimpse into a company and community close to ND. It also highlights the legal landscape of benefit corporations. It seems as though benefit corporations are the ideal – the perfect way to foster our capitalistic society while inculcating a sense of camaraderie and societal betterment. It is refreshing to consider perspectives not wholly focused on shareholders and the bottom line.
… I think! This stuff changes so fast, it’s hard to keep up!
… where not to die in 2014. At least for tax purposes!
Estate planning affects a lot of successful family businesses. But depending upon the business, it may be difficult – if not impossible – to continue the business in the face of federal and/or state “death” taxes. A significant number of states are now trying to attract people by lowering or even eliminating their estate taxes. That leaves other states scrambling to catch up.
… this time, over privacy concerns. This is a constant in the area of cloud computing. In the post-Edward Snowden era, who isn’t concerned about the ability to hack into data storage?
This article has nothing to do with social entrepreneurship or family business, but it’s such a compelling story, I had to post it. I have to wonder what these guys are thinking, giving a 20-year-old $25M – without even determining whether the app he says he’s building WORKS yet.