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Joseph E. Stiglitz argues that bad policies in rich countries, not economic inevitability, have caused most people's standard of living to decline

Joseph E. Stiglitz argues that bad policies in rich countries, not economic inevitability, have caused most people's standard of living to decline | World Issues | Scoop.it
The difficulties that many rich countries now face are not the result of the inexorable laws of economics, to which people simply must adjust, as they would to a natural disaster. On the contrary, the decline in most households' income over the past three decades, particularly in the US, is the result of flawed policies.

Via NESS
Jeremy Wernik's insight:

Even the most powerful and wealthy countries are being uncovered for flawed policies. This should be a wake up call for all wealthy countries should not have this happen. With such massive amounts of wealth, they should invest in keeping close watches on what there laws are creating.

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Eli Levine's curator insight, February 6, 2014 9:55 AM

The economy is just a system.  If we figure out how it actually works, we could, theoretically, figure out how to produce optimal results for people through policies, programs and legal structures.  This may invovle having the government step back and allowing the market agents to work things out on their own.  But the principle that the government does not have an active role in shaping economic outcomes for one way or another is preposterous and shouldn't be considered "based in reality" anymore or as acceptable solutions to our problems.

 

Period.

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It's the Stupid Economy - Politico

It's the Stupid Economy - Politico | World Issues | Scoop.it
Politico
It's the Stupid Economy
Politico
Midterm elections are almost always about at least one of these three north stars of politics: war, scandal and the economy. Depending on circumstances, any of the three can trump the other factors.
Jeremy Wernik's insight:

As president Obama is halfway through his second term, 3 main things will decide how his legacy will end, how this crisis in Ukraine unfolds, and how well the economy grows.  These are huge factors that could affect not only his legacy, but the future of the democratic party.  He needs to make the Dems. look good in order to have a good chance at the 2016 election.  

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Global Debt Exceeds $100 Trillion | Zero Hedge

Has all that money gone to stimulate the economy?

Nope …

 

Virtually none of it has.  Instead, governments chose big banks over their own people.  The huge amount of debt was racked up to bail out the big banks.

 

Central banks have been engaged in the the “greatest backdoor bailout of all time.” ...


Via Hal
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0% is the Highest Interest Rate the U.S. Economy can Afford

Peter Schiff on RT "Boom Bust" (1/17/2014) Listen Live Weekdays 10am to noon ET on http://www.SchiffRadio.com Buy my newest book at http://www.tinyurl.com/Re...
Jeremy Wernik's insight:

In order for the economy to grow, the FED needs to have extremely low interest rates.  Interest rates  need to be low so people will start buying bonds to increase the use of money.

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Limits to Growth--At our doorstep, but not recognized

Limits to Growth--At our doorstep, but not recognized | World Issues | Scoop.it
How long can economic growth continue in a finite world? This is the question the 1972 book The Limits to Growth by Donella Meadows and others sought to answer. The computer models that the team of...

Via Khannea Suntzu
Jeremy Wernik's insight:

With the shortage of natural materials, our economic growth is slowly going decrease because of it.  With a shortage of materials, that means prices could sky rocket which will damage the economy and throw it into a downward spiral.

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Why China's economy is in trouble in one chart - MarketWatch (blog)

Why China's economy is in trouble in one chart - MarketWatch (blog) | World Issues | Scoop.it
Why China's economy is in trouble in one chart MarketWatch (blog) With its 1.3 billion people and its position as the second largest economy in the world after the U.S., China has been the engine that powered much of global economic activity over...
Jeremy Wernik's insight:

This isn't the first time we have witnessed china having a steep decrease in it's economies growth. During the 2008/09 economic crash was the last time we saw a huge decrease in chinas economy. China has such a huge global impact, I wonder what could happen if this continues for the country.

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Obama Budget Predicts Strongest U.S. Growth Since 2005: Economy - Bloomberg

Obama Budget Predicts Strongest U.S. Growth Since 2005: Economy - Bloomberg | World Issues | Scoop.it
Bloomberg
Obama Budget Predicts Strongest U.S. Growth Since 2005: Economy
Bloomberg
The U.S.
Jeremy Wernik's insight:

Good news for americans. Finally the US is getting back on track to becoming stable once again. Now we have to start lowering the debt.

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Joseph E. Stiglitz argues that bad policies in rich countries, not economic inevitability, have caused most people's standard of living to decline

Joseph E. Stiglitz argues that bad policies in rich countries, not economic inevitability, have caused most people's standard of living to decline | World Issues | Scoop.it
The difficulties that many rich countries now face are not the result of the inexorable laws of economics, to which people simply must adjust, as they would to a natural disaster. On the contrary, the decline in most households' income over the past three decades, particularly in the US, is the result of flawed policies.

Via NESS
Jeremy Wernik's insight:

Even the most powerful and wealthy countries are being uncovered for flawed policies. This should be a wake up call for all wealthy countries should not have this happen. With such massive amounts of wealth, they should invest in keeping close watches on what there laws are creating.

more...
Eli Levine's curator insight, February 6, 2014 9:55 AM

The economy is just a system.  If we figure out how it actually works, we could, theoretically, figure out how to produce optimal results for people through policies, programs and legal structures.  This may invovle having the government step back and allowing the market agents to work things out on their own.  But the principle that the government does not have an active role in shaping economic outcomes for one way or another is preposterous and shouldn't be considered "based in reality" anymore or as acceptable solutions to our problems.

 

Period.

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For the first time, China crushes 6 tonnes of ivory in public - Vision Insights and New Horizons

The Guardian For the first time, China crushes 6 tonnes of ivory in public Vision Insights and New Horizons Monday's event was attended by representatives of the Convention on International Trade in Endangered Species (CITES), non-government groups...
Jeremy Wernik's insight:

I am highly entertained by this.  Ivory should be deemed illegal around the world.  Poaching elephants for there tusks is inhumane. 6 tons of ivory Is a huge amount of the rare and expensive material.  It is a huge step in eliminating Poaching by having china eliminate a large majority of it. 

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