Exclusive: America has been afflicted by an ideology that doesn’t work, says Joseph Stiglitz
Nobel laureate Joseph Stiglitz, in an exclusive interview with timesnownews.com, talks about what is wrong with current American capitalism, rise of a new kind of politics emerging from dissent towards government and more. Here are some excerpts from the interview:
Tax cuts, wages and salaries: Will lower taxes help workers? And the economy?
For several weeks, the guest experts on CNBC and Bloomberg News have been talking about the coming tax cut legislation (for corporations) that the Republicans finally seem to have in their grasp. The Bill, as it is currently proposed, will eliminate the insurance mandate for health care and may leave quite a lot of upper middle class salaried people, worse off, especially in high tax states.
The sure winners will be the shareholders of multinational corporations and “pass through” enterprises, especially real estate partnerships. The “supply-side” cheerleaders for the plan, both in Congress and the White House (Mnuchin, Cohen, Mulvaney, et al) argue that economic growth be much faster, that it will pay for the cuts, and that wages and salaries will rise, thanks to a burst of new investment.
By contrast, virtually all top economists say that the cuts won’t pay for themselves, that the deficit and the national debt will increase, and that growth will not accelerate.
This year’s program combines site visits, brainstorming sessions, conferences, presentations and vigorous questioning, looking, listening and co-learning with my esteemed long time Taiwanese friends and colleagues.from 22 September to 4 October. Among the main events and presentations:
Lessons from a Stakeholder Engagement Process for Penang, Malaysia
We’re all focused on the drama and entertainment of Trump’s takeover of the world’s centre of military, security and economic power. For some it’s exciting and entertaining, for others terrifying and apocalyptic. I too have been glued to the news – at various times having each of those responses! But now I’ve come back to earth, recognising it all for what it is. Important, but a sideshow to a much bigger and more important game. And on reflection, I’m glad he got elected.
How can a Trump Presidency be positive? Surely this is a major setback – to action on climate change, to addressing inequality, to human rights and global security. Doesn’t it make the world a scarier and less stable place? In isolation, all true, but in context, not so much. The context is the key.
– By Paul Gilding, http://www.paulgilding.com/
If I had the job of preparing a model constitution today, I would start with . . .
This is one of those special times for Malaysia when change and ideas are most welcome. So there is hope and opportunity. And it is one of those special times when change, even paradigm shifts are possible, and local governments given a new and more central place in the lives of our citizens. If we can together constructively, creatively and systematically build and add to the many promising initiatives , and if civic engagement leads an upsurge of citizen interest, we will surely see the emergence of an efficient, effective, equitable, democratic local government system in Malaysia that is socially, ecologically and economically sustainable. And make a marked improvement in the quality of life of all Malaysians.
* Anwar Fazal, Penang. In Malaysiakini, 12 April 2001
On 15 November 2015 US President Barack Obama in a deeply resonant address to an audience of mainly young Greeks in Athens, reminding us of the challenges of democracy in this troubled century, calling for a “course correction” on globalization that has left populations afraid for an uncertain future.
From the New York Times, 22 June 2011: “Former Vice President Al Gore sharply criticized President Obama as lacking leadership on climate changein a magazine essay published online Wednesday, saying his policies had been little more effective than those of President George W. Bush. In the 7,000-word article in Rolling Stone, Mr. Gore said . . . ” Continue reading