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Saturday, June 9, 2012

Bill Maher Gets Schooled on U.S. Corporate Profits By Dambisa Moyo

Dambisa Moyo has a lot to say. She has just published her third book in as many years putting her on pace with Thomas Sowell who has written a book a year for the past thirty years. Her 2009 book "Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa" became a New York Times bestseller. It is published in Chinese, English, French, German, Greek, Italian, Japanese, Korean, Polish, Portuguese and Dutch. Ms Moyo received her doctorate from Oxford and has worked for the World Bank and God forbid, Goldman Sachs. She is a regular contributor to The Economist and Financial Times and has spoken at, among many places, the American Enterprise Institute and the International Monetary Fund. Not a one trick pony, Moyo received her undergraduate degree from American University in chemistry. I have read her second book, How the West Was Lost: Fifty Years of Economic Folly - And the Stark Choices that Lie Ahead and will probably order her most recent, Winner Take All: China's Race for Resources and What It Means for the World.
Clearly, Bill Maher and his guests don't bat in Moyo's league. In this video she schools Maher on the source of corporate profits, noting that increased profits may be the result of cost cutting not increased revenues, which is the case with most American firms, a critical point lost on Maher and the left.


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