When the current crisis is over, the reputation of American-style capitalism will have taken a beating—not least because of the gap between what Washington practices and what it preaches. Disillusioned developing nations may well turn their backs on the free market Full Story »
Posted by Derek Hawkins
Stiglitz has a knack for seeing the big picture, and here looks at the world economic and political trends. One point he misses about U.S. democracy: we have not had one recently, because of the extreme control of power by politicians financed and controlled by big corporations and the wealthy. Corporatocracy borders on fascism.
While there may be no winners in the current economic crisis, there are losers, and among the big losers is support for American-style capitalism. This has consequences ... More »
In so far as it reflects the accepted paradigm that we want to get back into growth mode, it is good journalism
The basic premis that we want to get back into growth mode is deeply flawed. 3% Annual world GDP growth which the IMF predicts we will be back to in a few years will double our economies every 23 years. Just take water for example. Even if the demand for water was proportional to GDP (and it has been shown to increase faster than GDP as per capita expectations grow) that would double our use of fresh water every 23 years. 4 times as much in 46 years. How many nations do you know ... More »
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