The place to start is America’s executive suites, which should be cleared of mercenaries in order to encourage real leadership. That is the easy part: get rid of the obscene compensation packages and watch the mercenaries disappear. People who care about building and sustaining decent enterprises – and who understand that doing so is a team exercise – can then take over. (…)
Public support should be shifted from protecting large established corporations to encouraging the growth of newer enterprises. And startups should be discouraged from rushing into the embrace of the stock market’s short-sighted analysts and many an established corporation should be encouraged to escape that embrace. At the same time, regulation and taxation should be used to rein in disruptive day trading and other exploitative speculation that crowds out sustainable investment and disrupts regular business activities.
Above all, what the American economy needs now are managers who know and care about their businesses. Armies of MBAs who have been trained to manage everything in general but nothing in particular are part of the problem, not the solution.
via Project Syndicate.