Showing posts with label Larry Summers. Show all posts
Showing posts with label Larry Summers. Show all posts

Saturday, July 11, 2009

The China Syndrome

In an interview for the Financial Times, President Obama's chief economic advisor, Larry Summers, predicted that the American economy will become "less consumption-oriented"; "more export oriented"; "less energy-production-oriented"; "more environmentally-oriented"; "less financial-engineering-oriented"; "more bio- and software- and civil-engineering-oriented"; "less oriented to income growth that is disproportionate towards a very small share of the population"; and "more middle-class-oriented."

After reading that, I'm feeling a little disoriented.