Nobel Laureate Joseph Stiglitz proposes the primary economic priorities in lieu of neoliberalism.

Fiona Sydney

2019-06-29 17:30:00 Sat ET

Nobel Laureate Joseph Stiglitz proposes the primary economic priorities in lieu of neoliberalism. Neoliberalism includes lower taxation, deregulation, social welfare minimalism, and less government intervention. This ideology has become the root cause of socioeconomic problems such as wage stagnation, income and wealth inequality, market power concentration, and environmental degradation.

In response, Stiglitz recommends 3 major economic policy prescriptions. First, the benevolent social planner should better balance free markets, civil communities, and state mechanisms. The government better shapes and facilitates markets and communities by investing in basic research, technology, high education, affordable health care, and infrastructure. This public investment pays well in terms of more connective communities and market mechanisms.

Second, wealth creation arises from scientific inquiry and social organization that collectively allow people to work together for the common good. Free markets still facilitate most social cooperation, but they serve this major purpose only if market participants are subject to democratic checks and balances and the rule of law.

Third, the government can curb corporate rent protection that might emerge from information advantages, hostile takeovers, or other entry barriers. The government has to sever the nexus between market power and political influence. The current public investment reform should focus on higher education, research, technology, affordable health care, and infrastructure.

 


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

Ford and Baidu team up to test autonomous cars in China.

Jonah Whanau

2018-11-01 08:36:00 Thursday ET

Ford and Baidu team up to test autonomous cars in China.

Ford and Baidu team up to test autonomous cars in China. For the next few years, Ford and Baidu plan to collaborate on the car design and user acceptance te

+See More

Joel Mokyr suggests that economic growth arises from a change in cultural beliefs toward technological progress.

John Fourier

2023-11-07 11:31:00 Tuesday ET

Joel Mokyr suggests that economic growth arises from a change in cultural beliefs toward technological progress.

Joel Mokyr suggests that economic growth arises from a change in cultural beliefs toward technological progress. Joel Mokyr (2018)   A culture

+See More

JPMorgan Chase CEO says President Trump has now awaken the animal spirits in U.S. stocks.

Dan Rochefort

2017-02-13 09:35:00 Monday ET

JPMorgan Chase CEO says President Trump has now awaken the animal spirits in U.S. stocks.

JPMorgan Chase CEO Jamie Dimon says President Trump has now awaken the *animal spirits* in the U.S. stock market. The key phrase, animal spirits, is the

+See More

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fundamental analysis of Alphabet Google (U.S. stock symbol: $GOOG).

Becky Berkman

2025-09-18 08:03:32 Thursday ET

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fundamental analysis of Alphabet Google (U.S. stock symbol: $GOOG).

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fund

+See More

Federal Reserve's interest rate hike may lead to an economic recession as credit supply growth ebbs and flows through the business cycle.

Monica McNeil

2018-06-14 10:35:00 Thursday ET

Federal Reserve's interest rate hike may lead to an economic recession as credit supply growth ebbs and flows through the business cycle.

The Federal Reserve's current interest rate hike may lead to the next economic recession as credit supply growth ebbs and flows through the business cyc

+See More

Foxconn invests $10 billion in a new manufacturing plant for LCD display panels in Wisconsin.

Chanel Holden

2017-07-13 08:35:00 Thursday ET

Foxconn invests $10 billion in a new manufacturing plant for LCD display panels in Wisconsin.

President Donald Trump has announced that a major Apple iPhone upstream supplier, Foxconn Technology Group (aka Hon Hai Precision Group), will invest $10 bi

+See More