Hi Humans,
I would like to recommend a recent article in Bloomberg
Weekly in which President Obama is interviewed concerning his views on the
economy. The gist of the article is that globalization and capitalism are good,
but regulation by government is necessary to keep markets flowing normally and
to enable ordinary humans to benefit from the good results of globalization and
capitalism. The corporations and therefore the humans at the top of those
corporations benefit from regulation because regular flowing markets and participating
workers make for a better economy. An example of deregulation allowing the
worst part of Wall Street to run amuck was seen in the economic meltdown that
preceded the election of President Obama. That perfect storm combined
deregulation with artificially low taxes and an expensive war financed by kick
the can down the road borrowing. Capitalism should not be demonized or
destroyed but rather guided for the benefit of all.
Chloe
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