LETTER: Romney wrote book on extractionism
Tuesday, October 23, 2012 3:13 AM
"Those who forget history are doomed to repeat it."
There is a term, extractionist economy. It is the point at which an economy goes from a stable, productive and growing economy, to a stagnent and decaying economy.
It happens when a small number of people extract a disproportionate amount of wealth from an economy. If not reversed, the economy dies.
The United States is in the extractionist phase of a dying economy. I find it bewildering that even though we know what is happening, and it has happened throughout history many times before, we follow the same doomed course!
There is a reason I am especially negative about our prospects for turning this around. Mitt Romney is an extractionist. He wrote the book.