Capitalism has undergone a profound shift, as our financial system has moved away from its primary role of channeling capital into productive investments. Corporate priorities have instead turned toward maximizing short-term shareholder returns and deploying complex financial engineering that boosts firms’ bottom lines. In the process, American communities and long-term economic growth have paid the price.

Oren joins guest host Chris Griswold to discuss how this process of financialization is distorting the American economy and undermining capitalism itself. He explains how practices like leveraged buyouts, stock buybacks, and speculative financial activity have reshaped corporate incentives, why critics often conflate profit with value creation, and how these trends affect Americans and their communities.

Further Reading:

• “The Finance Industry Is a Grift. Let’s Start Treating It That Way” by Oren Cass, New York Times.
• “Actually, the U.S. Financial Sector Is Good for the Economy“ by Judge Glock, City Journal.
• “‘The Finance Industry Is a Grift,’ Oren Cass Claims in the New York Times. Look Who’s Talking” by Ira Stoll, Washington Free Beacon.
• “The Oren Cass Case for Central Planning Does Not Indict Wall Street for Anything” by Capital Record with David Bahnsen.