|
|
"A comprehensive, collaborative elections resource."
|
Hedge-fund billionaire says inequality could be 'disastrous'
|
|---|
| Parent(s) |
Issue
|
| Contributor | RP |
| Last Edited | RP Mar 20, 2015 08:07pm |
| Logged |
0
|
| Category | Opinion |
| Author | Robert Frank |
| News Date | Friday, March 20, 2015 04:00:00 PM UTC0:0 |
| Description | Hedge fund billionaire Paul Tudor Jones said the growing gap between the rich and the rest could be "disastrous," and that the drive for corporate profits has "ripped the humanity" from American companies.
"The gap between the 1 percent and the rest of America, and between the U.S. and the rest of the world, cannot and will not persist," he said. "Now here's a macro forecast that's easy to make, and that's that the gap between the wealthiest and the poorest, it will get closed. History always does it. It typically happens in one of three ways—either through revolution, higher taxes or wars. None of those are on my bucket list."
But he said capitalism has shifted in recent years to become too hyper-focused on short-term quarterly earnings, profits and stock prices.
"I've seen a lot of crazy things in markets... And unfortunately, I'm sad to report that right now we might be on the grips of certainly one of the most disastrous, certainly in my career."
"It's like we've ripped the humanity out of our companies and reduced them to a set of numbers," he said. |
| Share |
|
|
2¢
|
|
| Article | Read Full Article |
|
| Date |
Category |
Headline |
Article |
Contributor |
|
|
