Joseph Stiglitz, Nobel-prize-winning economist, dissects the decisions that got the United States economy into its current greasy pit.
He writes clearly, understandably, pointing the finger at five causes of today’s running disaster. Give it a look.
Now if he could only tell us what’s going to happen next week, next month, next year…
Technorati Tags: Economy, Stiglitz, Economists, Bailout, Credit Crunch, Free Markets, Greenspan, Bush, Reagan, Clinton, Rubin, Glass-Steagall Act, Phil Gramm, Ayn Rand, Deregulation, Stock Options, Politics
Grumpy Lion 
We all bear responsibility. The Hyper-Consumer Culture.
Once everyone accepts that, we can move on to identifying those people and policies that promoted it.
“Acceptance” means – stop doing it!
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from a fan:
please get shut of the irritating snow effect.
snow is good. that’s real snow, not its javascript simulacrum. That’s just depressing.
the other day, on visiting your blogi thought my monitor was buggered. (It probably is, but that’s beside the point)
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It’s not snow. It’s coke. Or heroin. I forget which.
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Well fuck this…
I thought it was crank. Now it’s gone. I’m outta here.
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Evo –
Actually it was ground up skull bones. Human, of course. I didn’t mention that because I didn’t want to upset Heather. But I thought you might appreciate it…
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I liked Evo 1st comment. I think the linked article has a lot a good stuff that people on both sides (if there is two sides) of the aisle. I think the article could build on itself though and really capture even more. Like Sarbanes Oxley not being a really great cure no matter how noble for example.
Anyway Ric merry Christmas
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