Reply #12: Greenspan on distribution of wealth [View All]

[FormerRepub]

Greenspan did address this issue today on C-Span. He said that he is very concerned about the concentration of wealth in our modern global economy because capitalism cannot continue to exist if most of a population does not support it. He was worried about "populism" rising in response to this concentration of wealth. So he's not entirely out of it. However, his suggestions to fix the problem are not encouraging: 1. Improve primary and secondary education in our country. (fine) 2. Remove barriers to immigration by skilled workers from other countries to fill slots we can't fill domestically because of our sorry education system. (I don't get that one at all.) Sounds like he may have been at too many dinners hosted by big manufacturing corporations.