Capitalism: Success, Crisis and Reform (PLSC 270) Guest speaker Paolo Zanonni, partner at Goldman Sachs, discusses the firm's transition from a straight partnership to a hybrid partnership/joint stock corporation. The impetus for the transition was obtain the advantages of the joint stock corporation, especially in raising permanent capital, while maintaining the beneficial incentive structure of a partnership. The partnership selection process, which fosters leadership, entrepreneurialism, and conformity to the firm's corporate culture, has remained virtually unchanged since Goldman's IPO. Mr. Zanonni describes the corporate culture and values of the firm as seen from the inside. 00:00 - Chapter 1. Introduction and Course Agenda 01:44 - Chapter 2. Paulo Zanonni before Goldman Sachs 06:20 - Chapter 3. Paulo Zanonni at Goldman Sachs 20:49 - Chapter 4. Partnership Selection at Goldman Sachs 41:58 - Chapter 5. Goldman Sachs, Government and Society Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses This course was recorded in Fall 2009.
In this course, we will seek to interpret capitalism using ideas from biological evolution: firms pursuing varied strategies and facing extinction when those strategies fail are analogous to organisms struggling for survival in nature. For this reason, it is less concerned with ultimate judgment of capitalism than with the ways it can be shaped to fit our more specific objectives – for the natural environment, public health, alleviation of poverty, and development of human potential in every child. Each book we read will be explicitly or implicitly an argument about good and bad consequences of capitalism. This Yale College course, taught on campus twice per week for 50 minutes, was videotaped for Open Yale Courses in Fall 2009. We apologize, but Lecture 10 in the course, "Guest Lecture by Richard Medley: Entrepreneurship in Business Information" is not currently available through Open Courseware.
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