Joe Stiglitz Wants Your Money

Are there any progressives out there who understand money? In the recent flap over House Majority Leader Eric Cantor's sensible desire to find pay-as-you-go offsets to fund hurricane relief, one progressive TV commentator commented that if the feds can't find the money, then just print it. For May's Vanity Fair, progressive economist Joseph Stiglitz wrote a 2,270-word article on the state of inequality in America. Mr. Stiglitz has issues with America's wealthy, as the headline read: "Of the 1%, by the 1%, for the 1%." That would be the same 1 percent that provides America with jobs and which pays an inordinate share of the income tax. Nevertheless, Stiglitz thinks inequality is such a problem in America that he compares America to oligarchies and even the repressive regimes of the Middle East: In terms of income equality, America lags behind any country in the old, ossified Europe that President George W. Bush used to deride. ... None of this should come as a surprise -- it is simply...(Read Full Post)