| Topic: |
Religions > Atheism |
| User: |
"maff" |
| Date: |
17 Sep 2003 03:45:44 AM |
| Object: |
OT: Joseph Stiglitz |
US economic folly should worry us all
Think before gloating over Bush's spectacular fiscal incompetence
Joseph Stiglitz
Wednesday September 17, 2003
The Guardian
In 2001, President Bush misled the American people. He said that a tax
cut that was not designed to stimulate the economy would stimulate it.
But it did not. He told Americans that the large surpluses that were
part of President Clinton's legacy meant the US could afford to cut
taxes massively. Wrong again. He did not warn Americans how dubious
such estimates can be.
This year President Bush again misled the American people about the
economy. Weeks after persuading Congress to pass another tax cut - in
some ways even more inequitable than the first - his administration
revealed how bad the fiscal position had become. The $230bn surplus
inherited from Clinton had turned into a $450bn deficit.
OT: Joseph Stiglitz
http://groups.google.com/groups?hl=en&lr=&ie=UTF-8&oe=UTF-8&selm=18510aff.0305180116.5264f83a%40posting.google.com
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| User: "maff" |
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| Title: Re: OT: Joseph Stiglitz |
20 Sep 2003 06:35:26 AM |
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(maff) wrote in message news:<18510aff.0309170045.562fd18d@posting.google.com>...
US economic folly should worry us all
Think before gloating over Bush's spectacular fiscal incompetence
http://www.guardian.co.uk/comment/story/0,3604,1043494,00.html
Joseph Stiglitz
Wednesday September 17, 2003
The Guardian
In 2001, President Bush misled the American people. He said that a tax
cut that was not designed to stimulate the economy would stimulate it.
But it did not. He told Americans that the large surpluses that were
part of President Clinton's legacy meant the US could afford to cut
taxes massively. Wrong again. He did not warn Americans how dubious
such estimates can be.
This year President Bush again misled the American people about the
economy. Weeks after persuading Congress to pass another tax cut - in
some ways even more inequitable than the first - his administration
revealed how bad the fiscal position had become. The $230bn surplus
inherited from Clinton had turned into a $450bn deficit.
An IMF Report Card
http://www.time.com/time/europe/magazine/article/0,13005,901030922-485710,00.html
Worldwide pressure has forced the International Monetary Fund to
reform, argues Nobel-prizewinning economist Joseph E. Stiglitz, a
leading IMF critic. But there's still a long way to go
It has been six years since the east asian crisis began — a sudden
collapse of the currencies followed by recession and depression. From
East Asia, it spread around the world until some feared the global
economy itself might be approaching collapse. The International
Monetary Fund (IMF) came charging to the rescue, but its programs did
little to fix the problem. In fact, critics such as myself argued that
IMF policies — particularly its insistence on premature
"liberalization," or forcing recipient nations to open up their
financial markets to often volatile short-term capital flows — had
helped bring on the contagion, and that its "medicine" had made the
patients far sicker. Eventually, even the IMF agreed that it had
imposed contractionary fiscal policies, and that premature capital
market liberalization might expose countries to risks. Three years
later protesters stormed the annual International Monetary Fund/World
Bank meeting in Prague and, with a couple of exceptions, those
meetings have continued to be marked by protest, as the one taking
place in Dubai this month may be. These events sparked a worldwide
debate about the need to reform the world's economic and financial
architecture. Now it is time to take stock: Has there been reform?
Have the protests made a difference?
Joseph Stiglitz
http://news.google.com/news?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=gn
http://www.google.com/search?num=100&hl=en&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=nw
http://groups.google.com/groups?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=wg
http://www.google.com/search?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=gd&cat=gwd%2FTop
OT: Joseph Stiglitz
http://groups.google.com/groups?hl=en&lr=&ie=UTF-8&oe=UTF-8&selm=18510aff.0305180116.5264f83a%40posting.google.com
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| User: "maff" |
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| Title: Re: OT: Joseph Stiglitz |
25 Sep 2003 04:27:38 AM |
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(maff) wrote in message news:<18510aff.0309200335.7b0b6004@posting.google.com>...
(maff) wrote in message news:<18510aff.0309170045.562fd18d@posting.google.com>...
US economic folly should worry us all
Think before gloating over Bush's spectacular fiscal incompetence
http://www.guardian.co.uk/comment/story/0,3604,1043494,00.html
Joseph Stiglitz
Wednesday September 17, 2003
The Guardian
In 2001, President Bush misled the American people. He said that a tax
cut that was not designed to stimulate the economy would stimulate it.
But it did not. He told Americans that the large surpluses that were
part of President Clinton's legacy meant the US could afford to cut
taxes massively. Wrong again. He did not warn Americans how dubious
such estimates can be.
This year President Bush again misled the American people about the
economy. Weeks after persuading Congress to pass another tax cut - in
some ways even more inequitable than the first - his administration
revealed how bad the fiscal position had become. The $230bn surplus
inherited from Clinton had turned into a $450bn deficit.
An IMF Report Card
http://www.time.com/time/europe/magazine/article/0,13005,901030922-485710,00.html
Worldwide pressure has forced the International Monetary Fund to
reform, argues Nobel-prizewinning economist Joseph E. Stiglitz, a
leading IMF critic. But there's still a long way to go
It has been six years since the east asian crisis began ? a sudden
collapse of the currencies followed by recession and depression. From
East Asia, it spread around the world until some feared the global
economy itself might be approaching collapse. The International
Monetary Fund (IMF) came charging to the rescue, but its programs did
little to fix the problem. In fact, critics such as myself argued that
IMF policies ? particularly its insistence on premature
"liberalization," or forcing recipient nations to open up their
financial markets to often volatile short-term capital flows ? had
helped bring on the contagion, and that its "medicine" had made the
patients far sicker. Eventually, even the IMF agreed that it had
imposed contractionary fiscal policies, and that premature capital
market liberalization might expose countries to risks. Three years
later protesters stormed the annual International Monetary Fund/World
Bank meeting in Prague and, with a couple of exceptions, those
meetings have continued to be marked by protest, as the one taking
place in Dubai this month may be. These events sparked a worldwide
debate about the need to reform the world's economic and financial
architecture. Now it is time to take stock: Has there been reform?
Have the protests made a difference?
Joseph Stiglitz
http://news.google.com/news?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=gn
http://www.google.com/search?num=100&hl=en&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=nw
http://groups.google.com/groups?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=wg
http://www.google.com/search?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=gd&cat=gwd%2FTop
The fruits of irrationality
http://www.guardian.co.uk/business/story/0,3604,1048243,00.html
In the 90s investment boom the US put too much money into dud dotcoms
and too little into public services
Wednesday September 24, 2003
The Guardian
Joseph Stiglitz observed the hubris infecting the US economy in the
1990s, first as chairman of President Clinton's council of economic
advisers and then as chief economist of the World Bank. In the first
of two extracts from his new book, the Roaring Nineties, the Nobel
Prize winning economist explains how the boom sowed the seeds of the
US's present economic difficulties.
New world potion that was poison to Dr Sam
http://www.guardian.co.uk/business/story/0,3604,1048983,00.html
Clinton adviser Joseph Stiglitz tracks the genesis of anti-Americanism
in our second extract from his new book
Thursday September 25, 2003
The Guardian
With the end of the cold war and the coming of globalisation we had
the opportunity to create a new international order based on American
values, reflecting our sense of the balance between government and
markets, one which promoted social justice and democracy on a global
scale.
OT: Joseph Stiglitz
http://groups.google.com/groups?hl=en&lr=&ie=UTF-8&oe=UTF-8&selm=18510aff.0305180116.5264f83a%40posting.google.com
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| User: "maff" |
|
| Title: Re: OT: Joseph Stiglitz |
02 Oct 2003 03:43:28 PM |
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(maff) wrote in message news:<18510aff.0309250127.52d3e440@posting.google.com>...
(maff) wrote in message news:<18510aff.0309200335.7b0b6004@posting.google.com>...
(maff) wrote in message news:<18510aff.0309170045.562fd18d@posting.google.com>...
US economic folly should worry us all
Think before gloating over Bush's spectacular fiscal incompetence
http://www.guardian.co.uk/comment/story/0,3604,1043494,00.html
Joseph Stiglitz
Wednesday September 17, 2003
The Guardian
In 2001, President Bush misled the American people. He said that a tax
cut that was not designed to stimulate the economy would stimulate it.
But it did not. He told Americans that the large surpluses that were
part of President Clinton's legacy meant the US could afford to cut
taxes massively. Wrong again. He did not warn Americans how dubious
such estimates can be.
This year President Bush again misled the American people about the
economy. Weeks after persuading Congress to pass another tax cut - in
some ways even more inequitable than the first - his administration
revealed how bad the fiscal position had become. The $230bn surplus
inherited from Clinton had turned into a $450bn deficit.
An IMF Report Card
http://www.time.com/time/europe/magazine/article/0,13005,901030922-485710,00.html
Worldwide pressure has forced the International Monetary Fund to
reform, argues Nobel-prizewinning economist Joseph E. Stiglitz, a
leading IMF critic. But there's still a long way to go
It has been six years since the east asian crisis began ? a sudden
collapse of the currencies followed by recession and depression. From
East Asia, it spread around the world until some feared the global
economy itself might be approaching collapse. The International
Monetary Fund (IMF) came charging to the rescue, but its programs did
little to fix the problem. In fact, critics such as myself argued that
IMF policies ? particularly its insistence on premature
"liberalization," or forcing recipient nations to open up their
financial markets to often volatile short-term capital flows ? had
helped bring on the contagion, and that its "medicine" had made the
patients far sicker. Eventually, even the IMF agreed that it had
imposed contractionary fiscal policies, and that premature capital
market liberalization might expose countries to risks. Three years
later protesters stormed the annual International Monetary Fund/World
Bank meeting in Prague and, with a couple of exceptions, those
meetings have continued to be marked by protest, as the one taking
place in Dubai this month may be. These events sparked a worldwide
debate about the need to reform the world's economic and financial
architecture. Now it is time to take stock: Has there been reform?
Have the protests made a difference?
Joseph Stiglitz
http://news.google.com/news?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=gn
http://www.google.com/search?num=100&hl=en&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=nw
http://groups.google.com/groups?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=wg
http://www.google.com/search?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&scoring=d&q=Joseph+Stiglitz&sa=N&tab=gd&cat=gwd%2FTop
The fruits of irrationality
http://www.guardian.co.uk/business/story/0,3604,1048243,00.html
In the 90s investment boom the US put too much money into dud dotcoms
and too little into public services
Wednesday September 24, 2003
The Guardian
Joseph Stiglitz observed the hubris infecting the US economy in the
1990s, first as chairman of President Clinton's council of economic
advisers and then as chief economist of the World Bank. In the first
of two extracts from his new book, the Roaring Nineties, the Nobel
Prize winning economist explains how the boom sowed the seeds of the
US's present economic difficulties.
New world potion that was poison to Dr Sam
http://www.guardian.co.uk/business/story/0,3604,1048983,00.html
Clinton adviser Joseph Stiglitz tracks the genesis of anti-Americanism
in our second extract from his new book
Thursday September 25, 2003
The Guardian
With the end of the cold war and the coming of globalisation we had
the opportunity to create a new international order based on American
values, reflecting our sense of the balance between government and
markets, one which promoted social justice and democracy on a global
scale.
Mr Stiglitz goes to Washington
http://www.economist.com/books/displayStory.cfm?story_id=2067666
Sep 18th 2003
From The Economist print edition
When economics meets politics, guess which one wins
HE MADE his popular reputation arguing that everything had gone wrong
with the IMF, the World Bank and globalisation in general, and that it
could all have been so much better if only people had taken his advice
when he was chief economist of the World Bank in 1997-2000. Indeed,
Joe Stiglitz, a Nobel prize winner in economics in 2001, has become a
hero to anti-globalisation activists as a result of his "Globalisation
and its Discontents" (2002). For that reason, this reviewer opened his
new book with some trepidation: would Mr Stiglitz now say that the
American economy would have performed so much better if only Bill
Clinton and others had taken his advice when he was on the White
House's Council of Economic Advisers in 1993-97? Well, yes he does, in
fact. But he also says a great deal more.
The painful reality the IMF ignores
http://www.guardian.co.uk/comment/story/0,3604,1053904,00.html
The fund has again failed in its most urgent task - to reform itself
Joseph Stiglitz
Thursday October 2, 2003
The Guardian
It is six years since the IMF's fateful meeting in Hong Kong, just
before the global financial crisis. I was there. What a peculiar
meeting it was. To those paying attention, it was clear that a crisis
loomed. Capital market liberalisation was the culprit, exposing
countries to the vagaries of international capital flows - to both
irrational pessimism and optimism, not to mention the manipulation of
speculators.
OT: Joseph Stiglitz
http://groups.google.com/groups?hl=en&lr=&ie=UTF-8&oe=UTF-8&selm=18510aff.0305180116.5264f83a%40posting.google.com
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| User: "maff" |
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| Title: Re: OT: Joseph Stiglitz |
15 Oct 2003 04:04:50 AM |
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(maff) wrote in message news:<18510aff.0310021243.501153ce@posting.google.com>...
[...]
First Japan, now China is the culprit
http://www.guardian.co.uk/comment/story/0,3604,1063086,00.html
In reality, the US has only itself to blame for its swelling trade
deficit
Joseph Stiglitz
Wednesday October 15, 2003
The Guardian
For decades America seemed to dominate manufacturing, so US officials
focused on liberalising trade in manufactured goods. They put little
effort into creating a level playing field for farmers, since they
knew the US couldn't compete in agriculture.
Now China is out-competing everyone, racking up huge trade surpluses
with the US. So America's treasury secretary accuses China of
deliberately keeping its exchange rate low, and calls for China to let
market forces determine the value of the renminbi. The departing IMF
chief economist, Ken Rogoff, warns that the surpluses put global
stability at risk.
Stiglitz
http://news.google.com/news?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&q=Stiglitz&sa=N&tab=gn
http://www.google.com/search?num=100&hl=en&ie=UTF-8&oe=UTF-8&q=Stiglitz&sa=N&tab=nw
http://www.google.com/search?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&q=Stiglitz&sa=N&tab=wd&cat=gwd%2FTop
http://groups.google.com/groups?as_q=Stiglitz&safe=images&ie=UTF-8&oe=UTF-8&as_scoring=d&lr=&num=100&hl=en
OT: Joseph Stiglitz
http://groups.google.com/groups?hl=en&lr=&ie=UTF-8&oe=UTF-8&selm=18510aff.0305180116.5264f83a%40posting.google.com
.
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| User: "maff" |
|
| Title: Re: OT: Joseph Stiglitz |
29 Oct 2003 03:55:58 AM |
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(maff) wrote in message news:<18510aff.0310150104.261bbd09@posting.google.com>...
(maff) wrote in message news:<18510aff.0310021243.501153ce@posting.google.com>...
[...]
First Japan, now China is the culprit
http://www.guardian.co.uk/comment/story/0,3604,1063086,00.html
In reality, the US has only itself to blame for its swelling trade
deficit
Joseph Stiglitz
Wednesday October 15, 2003
The Guardian
For decades America seemed to dominate manufacturing, so US officials
focused on liberalising trade in manufactured goods. They put little
effort into creating a level playing field for farmers, since they
knew the US couldn't compete in agriculture.
Now China is out-competing everyone, racking up huge trade surpluses
with the US. So America's treasury secretary accuses China of
deliberately keeping its exchange rate low, and calls for China to let
market forces determine the value of the renminbi. The departing IMF
chief economist, Ken Rogoff, warns that the surpluses put global
stability at risk.
Stiglitz
http://news.google.com/news?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&q=Stiglitz&sa=N&tab=gn
http://www.google.com/search?num=100&hl=en&ie=UTF-8&oe=UTF-8&q=Stiglitz&sa=N&tab=nw
http://www.google.com/search?num=100&hl=en&lr=&ie=UTF-8&oe=UTF-8&q=Stiglitz&sa=N&tab=wd&cat=gwd%2FTop
http://groups.google.com/groups?as_q=Stiglitz&safe=images&ie=UTF-8&oe=UTF-8&as_scoring=d&lr=&num=100&hl=en
OT: Joseph Stiglitz
http://groups.google.com/groups?hl=en&lr=&ie=UTF-8&oe=UTF-8&selm=18510aff.0305180116.5264f83a%40posting.google.com
Do as the US says, not as it does
http://www.guardian.co.uk/comment/story/0,3604,1073042,00.html
America preaches free markets, but at home it's a different story
Joseph Stiglitz
Wednesday October 29, 2003
The Guardian
Today, many emerging markets, from Indonesia to Mexico, are told that
there is a certain code of conduct to which they must conform if they
are to be successful. The message is clear: here is what advanced
industrial countries do, and have done. To join the club, you must do
the same. The reforms will be painful, vested interests will resist,
but with enough political will, you will reap the benefits.
Each country draws up a list of what's to be done, and each government
is held accountable in terms of its performance. Balancing the budget
and controlling inflation are high on the list, but so are structural
reforms. In the case of Mexico,opening up the electricity industry,
which Mexico's constitution reserves to the government, has become the
structural reform of the day demanded by the west. So analysts praise
Mexico for its progress in controlling its budget and inflation, but
criticise it for lack of progress in electricity reform.
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