For the private sector to flourish, special privilege must give way to equal opportunity and equal risk for all.
Corporations wield enormous power in society.In order to see lasting social change, leaders in the private sector must begin to think of their own business plans as plans for good as well as profit. That's not such a big leap.
I am now a member of the private sector. I'm happy. I've got a little foundation. You never say never, but I may have had my last race and that was the Presidential race. I think that you only get one shot.
I think in the end the big issue is that the private sector still needs more help. And the answer is not more big government. I know in my state our reforms allowed us to protect firefighters, police officers, and teachers.
In the eight years before I became governor, there was zero net private sector job growth in New Jersey. Zero. For eight years.
If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.
I think in the '50s, the percentage of Americans employed by the private sector who were in unions was above 30 percent. And now it's in the single digits, so it plummeted. And with the plummeting of unions came the weakening of an organized working-class voice in politics.
The basic aggregate measure of gearing or leverage is telling us that today's advanced economies' operating systems are more heavily dependent on private sector credit than anything we have ever seen before. Furthermore, this pattern is seen across all the advanced economies, and isn't just a feature of some special subset (e.g. the Anglo-Saxons).
Our current model of capitalism and the dominant ideas in policy making have led to a failure of investment by both the public and the private sector in the things that drive productivity, and which affect its distribution.
I think what people understand there probably - well, they were hoping the private sector would do it [rescuing AIG ].
I think there's a longer shortlist for that particular position and others.Highly qualified men and women who have come to Bedminster, come to Trump Tower. People of different races and ethnicities. All political persuasions. People who have different backgrounds, public sector, private sector. Most of them will not be in the cabinet. Most of them are coming because they love the country and they want to share what their work on a particular issue or a particular success story has been.
By giving every child a fair start, we are improving our collective future, including the private sector's ability to find talent in a very competitive global marketplace.
Obviously, our business leaders yield enormous influence on our political leaders, and they have a duty to use that influence for the greater good. But beyond that, the private sector depends on having healthy, educated and productive workers.
We need to give the private sector many more powerful incentives to do research and development, to bring ideas and new discoveries to market in Canada, and commercialize them here, and stay here through successive stages of growth. But they can only do it with better government policies that give them more powerful incentive.
I think philanthropy is also growing and catching on. Figuring out how the philanthropy sector, which is quite small compared to the private sector, which is the biggest by far, and then the governments, you know, even in these poor countries over time has to take on these key responsibilities. How does philanthropy accelerate that? Drive the kind of innovations, make sure they get used well. So it plays this kind of special role.
We're still fighting to make sure that basic anti-discrimination laws are enforced, not just at the federal level, by the way, but throughout government and throughout the private sector? And those are fights that we can win because - and this is where I do believe America has changed - the majority, not by any means 100 percent, but the majority of Americans believe in the idea of nondiscrimination.
Rethinking capitalism means rethinking the role of the public sector, the role of the private sector, the role of finance, and the relationship between them all.
The Black public sector middle class teachers, policeman, firemen, and post office workers, those jobs have been on the decline but there hasn't been a corresponding increase in the private sector. What is especially painful is government policy bailed out the banks without making them make reinvestments for rebuilding. The result is 53-million Americans are food insecure, 50-million Americans are in poverty, 44 million are on food stamps, 26 million are looking for a job.
Energy is a sector of the economy that has been particularly resistant to innovation. This is precisely the problem. It is why we are still dependant on energy sources that are 100 to 150 years old while virtually every other sector of the economy has transformed itself. This is why we believe that the faith that many environmentalists still hold that carbon regulations and taxes will drive sufficient private sector investment into energy markets to create the kind of innovation we need is unfounded.
I do want to say, though, in terms of the people who are coming to see [Donald Trump], how thrilling it was to turn the corner and see people from entertainment, from the private sector, people of different races and ethnicities.
I think anybody who knows anything about South Africa and the South African economy would know that one of the big constraints to growth and development is skills shortages. So all of us, need to come at this thing as vigorously as is possible and, of course, the private sector has the capacity to take it on board.
I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.
The whole Jeffersonian ideal was that people are temporarily in government. Government is not the basic reality. People are. The private sector. And government is just a limited power to make things go better.
I want to help small businesses grow and thrive. I know how to make that happen. I spent my life in the private sector. I know why jobs come and why they go.
Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the hyper-inflation cat will be completely out of the bag.
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