Archive
Browse all 3 articles across governance, urban systems, ecologies, and latitudes.
The Landlord Leviathan: REITs, Private Equity, and the Price of Shelter
The landlord is no longer the woman downstairs with keys—it is a spreadsheet that lives in Delaware and dreams in waterfalls. When REITs and private equity own the marginal stock, rent becomes the solution to a covenant, not a neighborly bargain. A systems anatomy of financialized housing.
Shrink to Grow: The Buyback Paradox That Hollowed American Industry
Rule 10b-18 created a safe harbor for buybacks in 1982. What followed was not theft but diversion—each dollar buying back shares cannot build factories, train workers, or seed the future. A patient anatomy of the machine and the futures it withheld.
The Buyback Standard: How Rule 10b-18 Turned Markets Into One-Way ATMs
A 1982 SEC safe harbor made buybacks routine. Today they move hundreds of billions quarterly, driven by EPS targets and executive comp—with thin disclosure and lopsided gains. The tool isn't the problem; the incentives and opacity are.