"[The dollar system would transform] a nation of creative producers into a community of rentiers increasingly living on others, seeking gratification in ever more useless consumption, with all the debilitating effects…
Pettis thinks tariffs imposed by America are a finger in the dike at best and highly distortionary at worst. Pettis's basic thesis is that there is a global savings glut driven by wealth inequality (Rich people save and…
"[The dollar system would transform] a nation of creative producers into a community of rentiers increasingly living on others, seeking gratification in ever more useless consumption, with all the debilitating effects…
Pettis thinks tariffs imposed by America are a finger in the dike at best and highly distortionary at worst. Pettis's basic thesis is that there is a global savings glut driven by wealth inequality (Rich people save and…