IGNORING STIGLITZ AND KRUGMAN IS IGNORING A HIGHER POWER

We have two great Nobel prize winning economists (Joseph Stiglitz and Paul Krugman) and are ignoring both of them in favor of the guesses by politicians. Joseph Stiglitz is recommending making every attempt to immediately reverse economic inequality. To see an exclusive interview with him by Lynn Parremore in its entirety, click here.  His great concerned is about this divided society.  The Republicans have wanted to privatize everything from jails, schools, health care and all sort of things.  On capitalism, he responds:  "...capitalism does have a lot of strengths, including producing things that are very innovative. But what drives capitalism is the profit motive. You can profit not only by making good things, but also by exploiting people, by exploiting the environment, by doing things that are not so good."

Paul Krugman wrote an Op-ed on the the economy in the N. Y. Times in which he writes:  The Conscience of a Liberal .He writes: "The Bank for International Settlements has just come out with a report emphasizing the “limits to monetary policy”, which is apparently being taken seriously. I guess I’d start from the observation that the BIS has already embraced liquidationism, the idea that all this suffering is good for us and that trying to mitigate the pain would somehow be a bad thing. Now they’re just trying to come up with additional arguments for doing nothing."  His whole piece is worth reading.  Click here.


It is a winder that the self-serving Republicans and the (no longer Neo-) Cons do not listen to or seem to respect either of these men.  Instead, they hold up Paul Ryan whose greatest achievement is not in economics and cannot compare himself or his ideas to these two great men above.