Recently, on CNNI's Quest Means Business, there were a couple of days of interviews with George Soros, who is very intelligent and interesting. However, he has spent all his very successful life either in investing or in academia. He understands that the current economic model is rather fragile, and he said that he made his money betting against the market. One of the interviews was in Keynes's old rooms at Cambridge, so I think he may find Keynesian economics attractive. A plus for him there. He was at Cambridge seeking the "best minds" to deal with the "globalized economy." Good luck!
I don't think he fully understands that Main Street and not Wall Street is the engine of the economy. Modern developed economies are supported by the disposable income of ordinary wage-earners. When, in a "globalized world," you outsource Industries and the jobs they support, for cheap labor overseas, you destroy developed markets. To buy these cheap goods or pay taxes, well-paying jobs are a requirement. No jobs, no economy, and governments collapse.
This is not a complicated economic model, but "trained economists" from prestigious universities do not get it. They can't see the woods for the trees.
Besides being a university graduate, with a masters degree, I'm a union guy, and Trumka is right.
Pervis James Casey
Apr 14 2010 - 12:49pm