Comments on: Shaping globalization with Joseph Stiglitz Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 By: ARJTurgot2 Tue, 14 Dec 2010 16:52:55 +0000 How do policies like fiscal and monetary stimulus, which have the very real intent of creating stability, not result in sticky wages and prices? In an international arena, what do you end up with but devaluation as a mechanism for communicating the change?

In the short run you can end up dead too; we’re working on the proof for that theorem.

By: diddums Wed, 08 Dec 2010 22:04:04 +0000 All these Nobel winning economists and the world is in a mess financially. Seems to me that they are the problem, not the answer.

By: John-B Wed, 08 Dec 2010 18:20:08 +0000 Pretty good txgadfly. Having lived and worked overseas, it is hard to imagine that the econcomic dynamos in China and India are driven by those countrie’s massive committments to health care and education, especially relative to our own. What they do have are low wages and virtually zero workplace health, safety, and environmental constraints. Mr. Stiglitz seems to be on another plannet.

By: txgadfly Wed, 08 Dec 2010 16:06:42 +0000 Clearly Stiglitz is disconnected from American reality by claiming that the “middle class” is declining because of a decline in the value of “unskilled labor”. This man seems totally unaware of class distinctions in this country. In general, the middle class is occupied by people who possess highly developed skills rather than capital.

The USA actively discriminates against people born here who have intellectual skills. They tax the native born to provide tax incentives to hire identically skilled foreigners — the H1B program primarily. They flood the market with tax subsidized foreign workers to provide extra profits to their contributors. This has severely damaged American engineers and scientists and crippled the occupational choices of several generations so far.

Taken together with a currency grossly overvalued for decades, these policies have doomed the American middle class and all the economic structures which have grown dependent on it. Decline will continue. Decline will continue even after policies are corrected, which they have not been. So called “free trade” has been a disaster for the American people, presuming we count all American individuals as equal.

By: mikeruss Mon, 06 Dec 2010 20:27:21 +0000 invest in education, technology, infrastructure, medical care


deficit cutting resulted in double dip recession in 1938

people stick to their beliefs no matter the downside longterm

action is held hostage by political polarization


unlikely to be resolved not matter what the risk

a sign of a declining empire

By: fred5407 Mon, 06 Dec 2010 19:31:00 +0000 Good Article. It is strange that the government seldom looks beyond the beltway or the East Coast for people to direct the economy. Just because policy has not worked in the past does not mean that the people directing the policy know how to fix it. Like trying to fix a toaster if you have only worked on blenders. It is tough for good small business owners to expand when the economy is so shaky, and the leaders are off giving speaches, plus the second tier of leadership is poor at best.