Seizing the Opportunities Created by Superabundant Capital

Suddenly, the world is awash in inexpensive capital. Where did it come from? What opportunities and threats does it create? What does it mean for investors, managers, workers, and policymakers? We’ll show you.

For corporate leaders twenty-five years ago, capital was scarce and the cost of debt was high. The weighted average cost of capital hovered above 10 percent for much of the 1980s and ‘90s. In that environment, the best course of action was to avoid risky projects by using high hurdle rates.  Only.....