” Romney’s vaunted “private sector experience”, is of a particular kind “
Bill Gross of PIMCO and Eric Janszen of iTulip, neither of whom could be accused of being anti-capitalist, both have written of a distinction between the finance sector and the productive sector of the economy. Bain Capital belongs to the finance sector.
The productive sector of the economy grows as more things are produced. The standard of living of the middle class historically rose along with the productive economy.
The finance sector grows as asset prices increase. Its growth doesn’t always correspond to an improved life for the middle class. The finance sector used to support the productive economy, but in recent decades their interests often diverged. Instead of fueling the growth of the productive economy the finance sector could make money dismantling American manufacturing or shipping it overseas.
Bingo to you.
Definitely overlooked by many.
Thanks for posting.
Bill Gross of PIMCO and Eric Janszen of iTulip, neither of whom could be accused of being anti-capitalist, both have written of a distinction between the finance sector and the productive sector of the economy. Bain Capital belongs to the finance sector.
The productive sector of the economy grows as more things are produced. The standard of living of the middle class historically rose along with the productive economy.
The finance sector grows as asset prices increase. Its growth doesn’t always correspond to an improved life for the middle class. The finance sector used to support the productive economy, but in recent decades their interests often diverged. Instead of fueling the growth of the productive economy the finance sector could make money dismantling American manufacturing or shipping it overseas
Nice explanation, but too many of the electorate ( and the MSM) will not take the time to understand that.