Many finance people, folks who get rich in the market and running businesses are not economists. Finance is the art of making money for yourself and your employer, of getting things “funded.” and directing and redirecting streams of money. It is great for raising money and selling products. It is disastrous when finance men are put in charge of the economy.Paulson is a finance man.He has a very limited understanding of economics. Or he understands it but is focused on the narrower and more remunerative area of Finance for his own gain and his allies’ gain.
And, like so many of his kind, he does not understand that markets trade wealth but do not create it. Thus, he wears dangerous blinders.