Title: An observation
Review: Having worked on Wall Street for 25 years, by and from experience I can assert that ANY economic behavior by any human does entail a marginal error toward/from the misinterpreted phrase "zero sum game.Simply research historic Federal Reserve monetary policy to understand this, let alone structured finance!Prof. Thurow's point is that the US political economy, its citizens, and those "elites" who make its policy are asymetrically informed. Sooner or later, the US has to restructure its misapplication of redistributing wealth; hence the shock of the 70's, the long-term mess Regan has left; the stock bubble of the mid-90's; the current housing bubble. Another shock a la 1973 and 1978 might redirect this country's "elites'" thinking towards more long-term pragmatic lines.
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