Nepotism, on Average, Is Expensive

Stephanie Coontz: What happens when a firm goes from the parent to the offspring? She says there are drops of between ten and 20 % of profitability. But in some countries, you'll find that family firms always perform worse over the long run than those that bring in professional management. Can nepotism be cured by giving people access to top schools or private tutoring? coontz asks.