Joseph Stiglitz: America has been afflicted by an ideology that doesn’t work

Exclusive: America has been afflicted by an ideology that doesn’t work, says Joseph Stiglitz

Excerpts from article by Ajith Vijay Kumar, April 28, 2018 | http://www.timesnownews.com/  https://bit.ly/2HWc1EQ

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:

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ABOUT THE CIRCULAR ECONOMY: Peer review request and first response

Dear Eric,

Surprise! I am at my desk and your email asking me about an eventual independent “peer review” on the current state of science and accomplishment under the heading of Circular Economy arrived moments ago and is staring at me. In fact I was at a conference on just this topic in another country, which was OK, except that I could have given virtually all the talks myself.

I didn’t learn very much, which was disappointing. Waste of time, except it got me thinking more about one aspect of the circularity problem. In brief, most of the elements in the periodic table are now “in play”, and most of them are really “hitch-hikers” obtained from the ores of major industrial metals (copper, zinc, aluminum etc.).

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REPUBLICAN TAX POLICY: A cruel scheme to cut social security while gorging the military-industrial complex.

Trump Tax reform congress all males

The all-white, all male finance committees of both Houses of Congress got behind this bill.

With straight faces, the salesmen for the Trump tax cut have promised a miracle: increased corporate profits, a surge of investment in CAPX, more and better jobs with higher pay, all to be paid for by accelerated economic growth. In fact, the all-white, all male finance committees of both Houses of Congress, with Treasury Secretary Mnuchin and Chief Economic Advisor Hassett say that the US will grow at 3% p.a. or more for the next ten years – no recessions – and that the tax cuts will actually generate a profit for the government of $300 billion in that time. Sadly (and no irony intended) this combination of goodies is a pipe dream. In the next few paragraphs I will explain why, and why Trump and the Republicans are selling snake oil to the suckers. What is surprising is how many financial professionals are buying it.

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Walter Stahel on the Performance Economy

 

Walter Stahel, architect and industrial analyst, argues that the circular economy should be considered a framework: as a generic notion, the circular economy draws on several more specific approaches that gravitate around a set of basic principles.

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Visiting Lecturer: Jason Hickel on our addiction to economic groowth

Jason Hickel is an anthropologist at the London School of Economics and author of The Divide: A Brief Guide to Global Inequality and its Solutions.

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Op-Ed: The Walking Dead in Washington

paul-gilding-the-walking-dead-op-edWe’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/

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