Word: forbeses
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Forbes, the publisher of Forbes Magazine, made an unsuccessful bid earlier this year for the Republican party's presidential nomination.
In his speech, Forbes listed four requirements for the flourishing of liberal democracy: a stable currency, low taxes, protection of physical and intellectual property rights and minimal bureaucratic interference in business creation and operation.
The same bureaucratic interference represented by international organizations like the IMF is just as prevalent in the U.S., Forbes said.
For instance, Forbes said he believes the Federal Reserve Board is too eager to raise interest rates to curb inflation, even if the economy is growing at a rate as small as 2.8 percent.
The U.S. should aim for greater growth than this, Forbes said.