While important I refuse to call this meeting a "summit," since Democratic and Republican politicians squabbling simply does not reach the heights of two nuclear powers tensely sitting down to talk about missiles.
Rather than defending the outsized paychecks of Dimon, Blankfein, and the rest of Wall Street as part of the free market system, the President needs to demand that Wall Street help homeowners on Main Street.
"Invisible Hands" is about how they were able to grow their ranks over time, so that today business interests are able to exercise immense power regardless of which political party is in the White House.
Given what has happened to our economy in the last decade, it's hard to believe that any of the "freshwater," "efficient market" economists still have jobs, much less, credibility in how the economy actually works.
It is about the underlying concepts of our political system. Do we want to stick to the concepts that made America strong and rich? Or do we want abandon them and experiment with new political concepts?
The trick in reforming the health insurance system lies not in taking away profits from insurance companies, but in changing the paradigm in such a way that their greed would guide them to provide better health care.
The consumer electronics industry is defined by rapid innovation and falling prices. Advocates on every side should consider these market-based lessons, as they are relevant to the current health care debate.
The Chinese banking system has been through so much stress during the last few decades, they are in a much better position than the U.S. to deal with the global financial crisis, says Joshua Cooper Ramo.