Stiglitz: The American Economy Is Rigged
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Date: October 19th, 2018 8:42 PM Author: flushed dragon nibblets
Is he running for president? What is this shit?
"There is no magic bullet to remedy a problem as deep-rooted as America's inequality. Its origins are largely political, so it is hard to imagine meaningful change without a concerted effort to take money out of politics—through, for instance, campaign finance reform. Blocking the revolving doors by which regulators and other government officials come from and return to the same industries they regulate and work with is also (((essential))).
Beyond that, (((we need))) more progressive taxation and high-quality federally funded public education, including affordable access to universities for all, no ruinous loans required. (((We need))) modern competition laws to deal with the problems posed by 21st-century market power and stronger enforcement of the laws we do have. (((We need))) labor laws that protect workers and their rights to unionize. (((We need))) corporate governance laws that curb exorbitant salaries bestowed on chief executives, and (((we need))) stronger financial regulations that will prevent banks from engaging in the exploitative practices that have become their hallmark. (((We need))) better enforcement of antidiscrimination laws: it is unconscionable that women and minorities get paid a mere fraction of what their white male counterparts receive. (((We also need))) more sensible inheritance laws that will reduce the intergenerational transmission of advantage and disadvantage.
The basic perquisites of a middle-class life, including a secure old age, are no longer attainable for most Americans. (((We need))) to guarantee access to health care. (((We need))) to strengthen and reform retirement programs, which have put an increasing burden of risk management on workers (who are expected to manage their portfolios to guard simultaneously against the risks of inflation and market collapse) and opened them up to exploitation by our financial sector (which sells them products designed to maximize bank fees rather than retirement security). Our mortgage system was our Achilles' heel, and we have not really fixed it. With such a large fraction of Americans living in cities, (((we have to have))) urban housing policies that ensure affordable housing for all."
(http://www.autoadmit.com/thread.php?thread_id=4110717&forum_id=2#37059083) |
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