Nobel Laureate Joseph Stiglitz maintains that globalization only works for a few elite groups.

Becky Berkman

2019-08-09 18:35:00 Fri ET

Nobel Laureate Joseph Stiglitz maintains that globalization only works for a few elite groups; whereas, the government should now reassert itself in terms of both redistribution and regulation. The rich elite interest groups have better social and economic opportunities than others. From education to the family stock ownership of public companies, the elite groups perpetuate their socioeconomic advantages from generation to generation.

In most tech-savvy sectors, a few dominant tech titans such as Facebook, Apple, Microsoft, Google, and Amazon (F.A.M.G.A.) now reinforce almost insurmountable barriers to entry. Under the Trump administration, banks and insurance companies face less stringent macroprudential rules and regulations; public corporations and high net-worth residents enjoy lower income taxes; big biotech and pharmaceutical corporations and health insurance providers exploit millions of American patients with astronomical medicine prices.

However, U.S. real wages stagnate for the bottom echelon of American society in the 60 years from 1959 to 2019. The key policy debate calls for greater government investments in higher education, infrastructure, tech innovation, and environmental sustainability. The Federal Reserve should herald core interest rate normalization to better ensure inflation control, maximum sustainable employment, and financial market stabilization. Meanwhile, the Treasury should exercise fiscal prudence and discipline in national debt and budget deficit management.

 


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

Senator Elizabeth Warren introduces her Accountable Capitalism Act that would require corporations to consider stakeholder interests.

Fiona Sydney

2018-08-15 14:40:00 Wednesday ET

Senator Elizabeth Warren introduces her Accountable Capitalism Act that would require corporations to consider stakeholder interests.

Senator Elizabeth Warren advocates the alternative view that most U.S. trade deals serve corporate interests over workers, customers, and suppliers etc. She

+See More

Donald Trump and Kim Jong Un meet, talk, and shake hands in the historic U.S.-North-Korean peace summit in Singapore.

Daphne Basel

2018-06-06 09:39:00 Wednesday ET

Donald Trump and Kim Jong Un meet, talk, and shake hands in the historic U.S.-North-Korean peace summit in Singapore.

Donald Trump and Kim Jong Un meet, talk, and shake hands in the historic peace summit between America and North Korea in Singapore. At the start of the bila

+See More

Personal finance author William Danko shares 3 top secrets for better wealth creation.

Rose Prince

2018-12-01 11:37:00 Saturday ET

Personal finance author William Danko shares 3 top secrets for better wealth creation.

As the solo author of the books Millionaire Next Door and Richer Than Millionaire, William Danko shares 3 top secrets for *better wealth creation*. True pro

+See More

The SEC sues Elon Musk for his August 2018 tweet that he has secured external finance to convert Tesla into a private company.

Amy Hamilton

2018-09-29 12:39:00 Saturday ET

The SEC sues Elon Musk for his August 2018 tweet that he has secured external finance to convert Tesla into a private company.

The Securities and Exchange Commission (S.E.C.) sues Elon Musk for his August 2018 tweet that he has secured external finance to convert Tesla into a privat

+See More

Federal Reserve publishes its inaugural flagship financial stability report.

Peter Prince

2018-12-05 09:38:00 Wednesday ET

Federal Reserve publishes its inaugural flagship financial stability report.

Federal Reserve publishes its inaugural flagship financial stability report. Fed Chair Jerome Powell applauds both low inflation (2%) and low unemployment (

+See More

Apple revises down its global sales revenue estimate to $83 billion due to subpar smartphone sales in China.

James Campbell

2019-01-09 07:33:00 Wednesday ET

Apple revises down its global sales revenue estimate to $83 billion due to subpar smartphone sales in China.

Apple revises down its global sales revenue estimate to $83 billion due to subpar smartphone sales in China. Apple CEO Tim Cook points out the fact that he

+See More