By James Pethokoukis
President Obama is never more revealing about himself and his economic cosmology than when he talks off-the-cuff about innovation and market capitalism. Recall his theory that technological advances, such as ATMs, are killers of jobs.
But Obama probably best summed up his views yesterday when he said private equity firms such as Bain Capital have as “their priority is to maximize profits. And that’s not always going to be good for communities or businesses or workers.”