Sunday, May 3, 2009

Flat versus equal?

Populist fair traders have argued to years that globalization makes the world less equal. Deutsche Bank AG Chairman and CEO Josef Ackermann appears to agree with them. According to Ackerman, " Society appears to be choosing lower growth rates in exchange for greater stability. There is likely to be a greater emphasis on equality. And there may be less openness to foreign trade and capital flows, particularly as governments press banks that receive subsidies to lend more locally." . To Ackerman this is a bad thing.

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