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Edsall added that "Stiglitz may prove most prescient when he warns of a society governed by 'rules of the game that weaken the bargaining strength of workers vis-à-vis capital.' [1] A review in The Economist was mainly positive, noting that "Stiglitz is (mostly) skilled at making his argument." However, the reviewer wrote, "Mr Stiglitz's ...
Stiglitz believes that societies should rely on a generalized Henry George principle to finance public goods, protect natural resources, improve land use, and reduce the burden of rents and taxes on the poor while increasing productive capital formation. Stiglitz advocates taxing "natural resource rents at as close to 100 percent as possible ...
The title of the book points at the sharp decline in stock prices following the bankruptcy of the investment bank Lehman Brothers in September, 2008. Meanwhile, its subtitle reveals Stiglitz's conviction that free markets are at the bottom of the crisis, as he makes deregulation responsible for the rise of the shadow banking system, over-leveraged banks and subprime mortgages.
Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]
Stiglitz argues that the policies pursued by the IMF are based on neoliberal assumptions that are fundamentally unsound: Behind the free market ideology there is a model, often attributed to Adam Smith, which argues that market forces—the profit motive—drive the economy to efficient outcomes as if by an invisible hand. One of the great ...
Whither Socialism? is based on Stiglitz's Wicksell Lectures, presented at the Stockholm School of Economics in 1990 and presents a summary of the central themes of information economics and serves as a primer on the theory of markets with imperfect information and imperfect competition as well as being a critique of both free market and market socialist approaches (see Roemer critique, op. cit.).
The film documents how the privatization of key sectors like health, water, and education led to increased costs and the displacement of people from their lands. The documentary then examines the various military and covert interventions conducted by the United States, allegedly in support of the economic interests of American corporations.
Social inequality occurs when resources within a society are distributed unevenly, often as a result of inequitable allocation practices that create distinct unequal patterns based on socially defined categories of people. Differences in accessing social goods within society are influenced by factors like power, religion, kinship, prestige ...