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Forbes: Obama and Clinton, Learn from Pres. Lee

Posted March. 31, 2008 03:03,   


Forbes publisher Rich Karlgaard says U.S. presidential candidates should learn from Korean President Lee Myung-bak in reinvigorating the economy.

In the business monthly’s Internet column "Digital Rules," Rich Karlgaard praised President Lee’s business-friendly economic growth plan that includes tax cuts and deregulation, citing Lee`s interview with the Financial Times on March 24.

“Business is the foundation of the economy, and the economy will recover only when business activities are re-energized,” Lee was quoted as saying.

Karlgaard said, “Wouldn’t it be cool if America elected a president in November who said things like this?"

Citing the failure of U.S. candidates to present proper plans for economic recovery, the writer said, “Mr. Lee, do us poor Americans a favor. Please call Mr. Obama and Ms. Clinton...”

“Why do Obama and Clinton and occasionally [John] McCain fail to grasp that [in Lee’s words] the economy will recover only when business activities are re-energized?”

Karlgaard also agreed with Lee on trusting the power of small business, saying, “It may be the right time to invest in Korea given that Lee is spearheading economic reforms.”