May 09, 2014

What could be happening to Martin Wolf?

This letter I am not sending to the Editor… as I do not want to put him in a tight spot.

Martin Wolf writes “Shareholders alone should not decide on AstraZeneca” May 9. 

Who says they do? They might have the last word yes, but their decisions are filtered through a market that considers, more or less, sometimes in ways that cannot be understood, sometime correctly and sometimes incorrectly, all those other factors that Wolf enumerates. 

Wolf does not want the deal go through… he is free to pressure, as he does… but should Wolf also have a final word on AstraZeneca? I don’t think so… and I believe the Editor would agree.

Should workers or government intervene? If they want… they are free to try.

Frankly Martin Wolf’s positions during the last weeks, like when he proposed to “Strip private banksof their power to create money” and put that exclusively in the hands of even fewer public actors; like when he wanted to “Wipe out rentiers with cheap money”; like him repeating over and over again his mantra about fixing the world with government deficits and infrastructure investments; and now this, breathes desperation of some kind. What could be happening?