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Why Stupid Politics Is the Cause of Our Economic Problems

 
 
 
ksen

ksen

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http://www.huffingtonpost.com/joseph-e-stiglitz/stupid-politics-economy_b_6544014.html

In 1992, Bill Clinton based his successful campaign for the U.S. presidency on a simple slogan: "It's the economy, stupid." From today's perspective, things then do not seem so bad; the typical American household's income is now lower. But we can take inspiration from Clinton's effort. The malaise afflicting today's global economy might be best reflected in two simple slogans: "It's the politics, stupid" and "Demand, demand, demand."

The near-global stagnation witnessed in 2014 is man-made. It is the result of politics and policies in several major economies -- politics and policies that choked off demand. In the absence of demand, investment and jobs will fail to materialize. It is that simple.
Click to expand...

I <3 Stiglitz.
 
ksen said:
http://www.huffingtonpost.com/joseph-e-stiglitz/stupid-politics-economy_b_6544014.html

In 1992, Bill Clinton based his successful campaign for the U.S. presidency on a simple slogan: "It's the economy, stupid." From today's perspective, things then do not seem so bad; the typical American household's income is now lower. But we can take inspiration from Clinton's effort. The malaise afflicting today's global economy might be best reflected in two simple slogans: "It's the politics, stupid" and "Demand, demand, demand."

The near-global stagnation witnessed in 2014 is man-made. It is the result of politics and policies in several major economies -- politics and policies that choked off demand. In the absence of demand, investment and jobs will fail to materialize. It is that simple.
Click to expand...

I <3 Stiglitz.
Click to expand...

It's definitely more complicated than that.
 
Demand is important, but not the only thing that causes/hinders businesses from hiring. And if demand was the answer than the 2007 crash shouldn't have happened because the period of 2002-2007 was very much let's create demand (which it did)
 
coloradoatheist said:
Demand is important, but not the only thing that causes/hinders businesses from hiring. And if demand was the answer than the 2007 crash shouldn't have happened because the period of 2002-2007 was very much let's create demand (which it did)
Click to expand...

If it were that simple, then countries in Africa, Central America, and South America need only be told to increase demand and prosperity will follow. But that tends to never happen.
 
Let me know when they start talking helicopter drop.

Until then I will assume they don't even believe their own bullshit.
 
coloradoatheist said:
Demand is important, but not the only thing that causes/hinders businesses from hiring. And if demand was the answer than the 2007 crash shouldn't have happened because the period of 2002-2007 was very much let's create demand (which it did)
Click to expand...

It was false demand and in the wrong department....for phony liars loans and Wall Street Gamblers Chits and War and demands for escape hatches for crooked bankers. These non-productive demands sucked up all the money and put it in the hands of our oligarchs.:thinking:
 
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