The FLAW & HOW TO FIX CAPITALISM
"The central and comprehensive theme of the book is how the risk-asymmetry resulting from limited liability in joint-stock companies is largely ignored by both economists and policy makers, while it has enormous economic, social, and environmental impacts. In this humorous and highly satirical work, Jorge Cienmentiras offers both a historical guide to the theory and practice of limited liability, stretching from Adam Smith, Keynes, Marx, and Marshall up to the present millennium, as well as setting out the rationale and the recipe for the unavoidable, ultimate, long overdue and only sane economic revolution left; the one that might save the planet we live on."
"With a rare mix of deep insights and the naïve simplicity of a first-time traveler, Jorge Cienmentiras, a native of one of Spains outer regions, tells in his journals about his work at the Norwegian School of Business & Administration as a PhD student and researcher in 2004. In his diaries he presents a unique account of the disruptive, topsy-turvy effects that the risk-skewness associated with limited liability has on both economic theory and economic behaviour.
Jorge uses satire as his pencil and the merchant town of Bergen*, Norway and its "irrational citizens" as his sketchpad, to produce a finely drawn picture of an economy where risk-lovers are the winners and conservative policies belong to liberals, while conservatives themselves are mostly busy accumulating and conserving their wealth through liberal economic policies."