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.

 


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President of US-China Business Council Craig Allen states that a trade deal should be within reach if Trump and Xi show courage at G20.
Daisy Harvey

2019-07-15 16:37:00 Monday ET

President of US-China Business Council Craig Allen states that a trade deal should be within reach if Trump and Xi show courage at G20.

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AYA finbuzz podcast offers fresh insights into the latest stock market issues and economic trends for better and wiser investment decisions.
Daphne Basel

2019-07-31 11:34:00 Wednesday ET

AYA finbuzz podcast offers fresh insights into the latest stock market issues and economic trends for better and wiser investment decisions.

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Google CEO Sundar Pichai makes his debut testimony before Congress.
John Fourier

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Google CEO Sundar Pichai makes his debut testimony before Congress.

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2018-12-03 10:40:00 Monday ET

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Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data.
Olivia London

2019-08-16 17:37:00 Friday ET

Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data.

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President Trump floats generous 10% tax cuts for the U.S. middle class ahead of the November 2018 mid-term elections.
Jacob Miramar

2018-10-21 14:40:00 Sunday ET

President Trump floats generous 10% tax cuts for the U.S. middle class ahead of the November 2018 mid-term elections.

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