i am reading Mark Wolf's "Fixing Global Finance".
some of his arguments are contradictory. for example, he says the government should protect creditors with good reputations because they are the ones who could lend money, which is the base of our financial system. He thinks economy would go bad if financial system is not working.
He says, if a country's majority population are poor people who are not creditors, government should still represent rich people as they are good creditors.
He also says if government only protect creditors who are rich people, the rich will get richer and the poor will unlikely get rich. Thus the imbalance will lead to economic crisis.
Thus, his answer to whether government should represent rich or poor people is contradictory. The economy is going bad now... As far as I am concerned, this is because government did not deal with the 2008 crisis properly. The rescue plan does not give many opportunities to poor people.