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Stiglitz argues that America exported bad economics, bad policies and bad behavior to the rest of the world, in conversation with Andrew Leonard, Senior Technology and Business Writer of Salon.

Stiglitz outlines a way forward building on ideas that he has championed his entire career: restoring the balance between markets and government; addressing the inequalities of the global financial system; and demanding more good ideas (and less ideology) from economists.

Joseph Stiglitz

Former World Bank Chief Economist, Winner, 2001 Nobel Prize Winner for Economics; Author, Freefall

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Comment by Michael Grove on January 7, 2011 at 14:54

Stiglitz wants this to be a moment of "reckoning and reflection" – a re­assessment of the sort of economy in which financiers enriched themselves by selling over-priced and risky products to some of the most vulnerable citizens in America.

 

Materialism has outweighed moral commitment, the needs of the environment have been ignored, and there has been a catastrophic break down in trust.

 

"WILL WE seize the opportunity to restore our sense of balance between the market and the state, between individualism and the community, between man and nature, between means and ends?"

Comment by Michael Grove on January 7, 2011 at 15:02

No one can say they weren't warned. A decade ago, newly sacked from his job as chief economist at the World Bank, Joseph Stiglitz laid bare how the free-market ideologues at the US ­Treasury and the International Monetary Fund had botched the Asian financial crisis of the late 1990s.

It was a full-on attack from a Washington insider and it hurt, especially when Stiglitz said many of those responsible for forcing countries such as Thailand and Indonesia into deeper, longer recessions were "third-rate graduates from first-rate universities".

Comment by Michael Grove on February 13, 2011 at 13:14
Comment by Michael Grove on February 13, 2011 at 13:27

Simulated JUSTICE and the charge of FALSE PROFITS

 

Keiser Report - Episode 33

Comment by Michael Grove on March 3, 2011 at 13:03
Comment by Michael Grove on October 26, 2011 at 10:03

Where do good ideas come from?

 

as of 11/11/2011 - THE very best IDEAS come from HERE
Comment by Michael Grove on January 27, 2013 at 9:49

WHAT IF Nassim Taleb's Black Swans were engineered by a group of men -

living together in society today - as a result of information asymmetry ?

" When plunder becomes a way of life for a group of men living together in society - they create for themselves, in the course of time, a legal system that authorises it and a moral code that glorifies it "

                                                                                                                Frederik Bostiak

 

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