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Wealth & Economics > Where top officials retire?

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message 1: by Nik (new)

Nik Krasno | 13749 comments There is this practice that top state officials after occupying pivotal positions in state service end up in managerial positions in the private sector.
On the one hand - it's only natural, where else would they go?
Not everyone can hop around and earn 6 figures fees for lectures, as some former presidents, prime ministers and other heads of states.

On the other hand, it so happens that former regulators head directly into the embrace of that very companies, they were responsible to supervise, regulate and interact with when on state payroll. Thus, you can sometimes see a former anti-monopoly commissioner working for one of the biggest players in some market, deputy head of ministry of health - at some big pharma, or former head of veterinary inspection - at some big agro biz. In many countries - even a cooling - off period is not required.
Can there be a conflict of interest - whether b4 the retirement, when a state official is looking for his/her 'next stage' or right after switching hats from state to private? Or is it a little like a former - police commissioner joining an underworld syndicate after retirement? -:)

Tara Woods Turner | 2063 comments Look at who funded the campaigns and that's where they will end up.

message 3: by J.J. (new)

J.J. Mainor | 2151 comments In the US, congressmen leave office and become lobbyists...the very same lobbyists that would knock on their doors as Senators and Representatives, asking for favors for their companies and promising campaign cash come election time or reminding them of the campaign cash that came in during their last election.

message 4: by Michel (last edited Oct 12, 2016 05:36AM) (new)

Michel Poulin Don't forget generals and admirals in this! And that is not limited to the American Forces. Here in Canada, an ex-Chief of the Defense Staff, an airforce general who was vehement in supporting the choice of the Lockheed F-35 to replace our ageing CF-18 fighters, went on to become a lobbyist and representative for...the Lockheed Corporation. Surprise, surprise! That makes you wonder if he was already in Lockheed's pocket while he was still Chief of the Defense Staff. I am sure that many members of this group will recall similar stories on the USA side.

Tara Woods Turner | 2063 comments And this is why Jimmy Carter remains my all-time fave president. Humanitarian publicly and privately, before, during and after his term.

message 6: by Nik (new)

Nik Krasno | 13749 comments Of course these instances can be (and certainly should be) clean, but we all know how human nature is sometimes -:(

Leviathan Libraries (leviathanlibraries) Tara wrote: "And this is why Jimmy Carter remains my all-time fave president. Humanitarian publicly and privately, before, during and after his term."

Jimmy Carter is awesome.

message 8: by J.J. (new)

J.J. Mainor | 2151 comments This group has been the only place I've heard people say they liked his presidency. A pipeline burst in Alabama a few weeks ago creating a week-long gas shortage. Panic led to long lines at the pumps and many stations running out of gas. Emergency services were worried about where they were going to get gas for the fire trucks, ambulances, etc. I thought to myself this must have been what it was like in the 70s.

Herbert Hoover was a humanitarian as well and it was his efforts that won him the election in '28. After WWII, Truman tapped him for the relief efforts in Post-war Germany. I'm sure there were some good things done during his presidency, but like many presidents, it was the worst moment of his presidency people remember - his handling of the market crash. Carter is sort of in the same vein - his presidency wasn't bad until he faced some big challenges and failed going into his reelection.

message 9: by Nik (new)

Nik Krasno | 13749 comments Are revolving doors btw biz & gov natural or problematic?

message 10: by Scout (new)

Scout (goodreadscomscout) | 5516 comments I didn't think Carter was an effective president, but what he's done since makes him a good man.

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