It is great to be vindicated! What better feeling than to know that you knew something that even one of the brightest is just learning!
Being a liberal usually recognizes that capitalism is good, as far it goes. And, often it goes too far for some. Then, there is a need for government to intervene, to remedy the injustices created by the market system. It takes nothing away from the strengths of capitalism to realize that its weaknesses need buttressing.
Larry Summers is considered one of the brightest persons in our times. Whatever faults he has, his intellect is second to none. He has been a proponent of the market system that distributes resources the most rationally. However, of late, he is recognizing that the global economy is short-changing the middle class.
Larry Summers is working to develop a new model that will continue to promote free trade while creating a system of resource distribution that will address the current glaring inequities.
Whoever does create such a model should be recommended for the Nobel Prize for Economics.
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