{"id":90803,"date":"2026-03-11T16:33:15","date_gmt":"2026-03-11T16:33:15","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=90803"},"modified":"2026-03-11T16:33:15","modified_gmt":"2026-03-11T16:33:15","slug":"never-doubt-the-callousness-of-private-sector-markets","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/03\/11\/never-doubt-the-callousness-of-private-sector-markets\/","title":{"rendered":"Never doubt the callousness of private sector markets"},"content":{"rendered":"<p>This headline is in an FT newsletter this afternoon:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-90804\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-11-at-16.20.09-550x258.png\" alt=\"\" width=\"550\" height=\"258\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-11-at-16.20.09-550x258.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-11-at-16.20.09-768x360.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-11-at-16.20.09-1536x720.png 1536w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-11-at-16.20.09-600x281.png 600w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-11-at-16.20.09.png 1642w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/p>\n<p>What is the message? It is that what the FT and Goldman Sachs describe as the private capital industry, and which we might describe as stock exchanges and the companies quoted on them, are very happy that Iran has distracted attention from the fact that private companies are currently heavily overvalued because of over-reliance on the excessive evaluation of AI companies.<\/p>\n<p>Never doubt the callousness of private sector markets in pursuit of irrational profits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This headline is in an FT newsletter this afternoon: What is the message? It is that what the FT and Goldman Sachs describe as the<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/03\/11\/never-doubt-the-callousness-of-private-sector-markets\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,35,16],"tags":[],"class_list":["post-90803","post","type-post","status-publish","format-standard","hentry","category-corruption","category-economics","category-ethics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/90803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=90803"}],"version-history":[{"count":2,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/90803\/revisions"}],"predecessor-version":[{"id":90806,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/90803\/revisions\/90806"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=90803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=90803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=90803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}