Ruto’s advisors should read Modigliani and Miller
It seems that President William Ruto’s handlers have not been doing enough in reading seminal papers and understanding how economics works. This is because they easily swallow hook, line, and sinker the conditions imposed by the Bretton Woods of more tax, big government and more revenue to the government, instead they should focus on growing the economic net for the republic. I would invite President Ruto and his handlers to read The Modigliani-Miller (M&M) principle. The principle states that the market value of a company is correctly calculated as the present value of its future earnings and its underlying assets, and is independent of its…
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