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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Crimson Ghost who wrote (69234)9/20/2007 10:25:26 AM
From: Gemlaoshi   of 116555
 
Gomory says that economists and policymakers “still are treating companies as if they represent the country, and they do not.” Companies are no longer bound to the interests of their home countries, because the link has been decoupled between the profit motive and a country’s welfare. Economists, Gomory points out, are not acknowledging the implications of this decoupling for economic theory.

Absolutely true. This is one of the most ignored/misunderstood concepts in public policy today!!
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