Needham talks about the current state of the United States economy. He wants to enhance the ability of securities auction markets to serve the needs of both institutional and individual investors. A prime objective is to make market structure changes that will best enable U.S. corporations to meet the enormous investment capital needs projected for the next decade and beyond. The real profitability of American business is far too low in relation to the cost of money, so corporations are at the point of being priced out of capital markets. Because of overwhelming competition for investment capital among government, business and consumers, the way investment capital is allocated will determine whether our economic system will continue to be based on private capital in a free market, or whether the central role will be transferred to government. These events will have a huge impact on our way of life, and for that reason, it is important that every citizen understand the choices and consequences.
- Hoover ID: Program 19741108
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