If you're injured in an automobile accident, and you sue the driver, you get much more for your injury than if you're fighting for your country. There's a double standard here.

Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.

There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.

Finance ministers and central bank governors have the seats at the table, not labor unions or labor ministers. Finance ministers and central bank governors are linked to financial communities in their countries, so they push policies that reflect the viewpoints and interests of the financial community and barely hear the voices of those who are the first victims of dictated policies.

For the United States, our political system is clearly distorted. We have gerrymandering so that there is a situation where a million more voters who vote for Democrats, yet the House is controlled by the Republicans. So clearly, the way our Congress operates is important. The other big issue is the influence of money in politics. It's not only campaign contributions. People like Trump - either you become very dependent on your benefactors or you are very rich.

International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.

America has had to turn to foreigners to finance its debt - not surprising since household saving in the last years has plummeted to zero. China is one of the largest holders of American debt.