Lloyd Blankfein, Goldman Sachs CEO, said he isn’t a
socialist, though he believes economic growth hasn’t resulted in a fair enough
distribution of wealth, Bloomberg reports.
Two goals of the economic system should be to expand and
spread global wealth, Blankfein, who turns 58 tomorrow, said in a discussion
today with Royal Bank of Canada CEO Gordon Nixon at an event hosted by the
Canadian Club of Toronto.
“Over the long term, if the system works well, it should
accomplish both goals,” Blankfein said. “It hasn’t accomplished enough of the
second goal in the right way, and that’s what the distress is over.”
“In the United States over the last generation or two we’ve
been much better at generating wealth and much less good at distributing it,”
Blankfein said….
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