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

Calomiris and Haber delve into the comparative analysis of bank crises and politics in America, Britain, Canada, Mexico, and Brazil.

Dan Rochefort

2023-04-14 13:32:00 Friday ET

Calomiris and Haber delve into the comparative analysis of bank crises and politics in America, Britain, Canada, Mexico, and Brazil.

Calomiris and Haber delve into the comparative analysis of bank crises and politics in America, Britain, Canada, Mexico, and Brazil. Charles Calomiris an

+See More

Warren Buffett shares his key insights into life, success, money, and interpersonal communication.

Rose Prince

2018-09-09 13:42:00 Sunday ET

Warren Buffett shares his key insights into life, success, money, and interpersonal communication.

Warren Buffett shares his key insights into life, success, money, and interpersonal communication. Institutional money managers and retail investors ca

+See More

A brief biography of Dr Andy Yeh

Andy Yeh Alpha

2023-06-19 10:31:00 Monday ET

A brief biography of Dr Andy Yeh

A brief biography of Dr Andy Yeh (PhD, MFE, MMS, BMS, FRM, and USPTO patent accreditation) Dr Andy Yeh is responsible for ensuring maximum sustainable me

+See More

The current Trump stock market rally has been impressive from November 2016 to October 2017.

John Fourier

2017-10-09 09:34:00 Monday ET

The current Trump stock market rally has been impressive from November 2016 to October 2017.

The current Trump stock market rally has been impressive from November 2016 to October 2017. S&P 500 has risen by 21.1% since the 2016 presidential elec

+See More

House of Representatives considers a government expenditure bill with border wall finance and so sets up a shutdown stalemate with Senate.

Laura Hermes

2018-12-23 13:39:00 Sunday ET

House of Representatives considers a government expenditure bill with border wall finance and so sets up a shutdown stalemate with Senate.

The House of Representatives considers a government expenditure bill with border wall finance and therefore sets up a shutdown stalemate with Senate. As fre

+See More

Global financial markets suffer as President Trump promises *fire and fury* in response North Korean nuclear ambitions.

Daisy Harvey

2017-08-07 09:39:00 Monday ET

Global financial markets suffer as President Trump promises *fire and fury* in response North Korean nuclear ambitions.

Global financial markets suffer as President Trump promises *fire and fury* in response to the recent report that North Korea has successfully miniaturized

+See More