Joe Stiglitz on the US vs EU style capitalism

EU = "capitalism with a human face"

Category:

Nonprofits & Activism

Tags:

• Joe Stiglitz
• Charlie Rose
• capitalism
• socialism
• EU
• USA
• financial crisis
• bank bailouts
• recession
• unemployment

[78tubin]

i did not know it was a legality issue. i thought it was a personal choice made by CEOs to look after the short term in spite of long term social benifits. but yes I am aware of a CEO's responsibility to his shareholders. so then that means it's not the private sector that innovates, 4 they don't have the time. it's a symbiotic relationship between both sectores that creates new products. if that is your claim, I would have to agree, though in this age that's a bold claim. most ppl say gov't bad

[madashelldude]

Bill Gates had to resign from MSFT to give away his personal fortune. As a CEO he could never justify something like that with company assets, even though one could argue it makes perfect business sense to create new markets in the 3rd world for MSFT products by lifting people out of poverty. 4 ex as much as Bill Gates wants to make charter schools work with his foundation, at the end he will fail: nothing beats a good pub nat edu sys:private sys depend on personalities who are not immortal.

[Mystefystisk]

Check this out: youtubeDOTcom/watch?v=vDhcqua3­_W8&feature=BFa&list=PLC256E61­D9CD54CAA&lf=BFp

[Mystefystisk]

@78tubin u have no idea of private sector innovation thru history. How did th scientists, NOT politicians, creating th internet, get to b so clever? From PRIVATE sector competing developing science for thousands of years beforehand! the funding comes from the wealth and living standards from business. Government/the rulers, are by definition parasites. Ofc they can do wise things, but trade, and people yearning for improvement and success, is the power behind advanced culture, science, wealth

[Mystefystisk]

@xknowledgeisfreex You're way off the mark. retsep81 makes great points. Of course businesses make crappy decisions some times. And try to abuse power. But in free marketforces the populus in total makes them pay for this. As their customers and judges. This is evolution. Government is not so easy to punish. Every 4 years in a pageant of mediacharisma and who is most corrupted w the powerful special interests? Ppls activities are an integral part of the free market.The Euro and Greece are great?

[Mystefystisk]

I haven't looked at much from Stiglitz, I admit, but some amount though. His arguments seem DANGEROUS! And very little to the point. Very socialistic, and more of the same, which has done so much harm. Very little about deeper understandings and very much blowing up a small detail, which is even it very false. Maybe he knows some stuff, but I still struggle to be impressed.

[Mystefystisk]

@madashelldude U seem t make valid arguments, but ur not! Business can and do spend and contribute to hard science! History shows in huge numbers of developments thru market forces and private businesses competing. Universities and businesses cooperate. Taxpayers, customers pay for most anything. Businesses take huge risks. And fail smtms. Most things CAN b products/services. Law/order is for government, child protection serv, bordercontrol, firedept. and not much more. Maybe some infrastructure

[Mystefystisk]

Private charity can perform better than the faceless gigantic welfare of the state. With low taxes and small government, people have insurance against disability that pays more for less paid into it. For themselves and their kids. Pensionfunds w more out for less in than the federal, public, of Europe.I live there. Libertarianism=more balanced and softer relations between purchasing power v pu.po. and ofc v prices, costs. less boom-bust. Who should rule who earns more, seller or buyer?

[Mystefystisk]

Yeah, the EU is a rolemodel. NOT! The US isnt a rolemodel either. Alot of big goverment waste, corruption w infiltrating special interests, collectivism, socialism. People spend their money better themselves.

Seems some people just won't let socialism go into history's garbagecan. Free marketforces is one of the greatest phenomenons in history. Big government will never b the solution. If they know better, why not have them take over ALL our decisions, what to produce, produce it,and run it

[Mystefystisk]

The government funded the development of the internet? Where did the government get it's money from? Magical trees in their backyard? Higher education, R&D, it's all funded by the market and the populus and their activities. And the private sector made huge improvements to the internet as we see the results of today. Some people just won't look at these things with an open fair mind.

[madcowhunter]

This is funny. France have had 35 hour week yet they had constantly unemployment around 10%over last decade, while he is giving an example of 1 out of 10 americans can't get a job during depression. You see how this sharing of work works in practice. I haven't heard a single reasonable argument from this guy

[xknowledgeisfreex]

@retsep81

Google, Youtube and ebay aren't what makes the internet great. It's the content that makes it great, which is neither provided by government nor by the business sector, but by ordinary people without profit motives.

The business sector originally wanted to make the internet into just another entertainment box full of commercial crap, where you have to pay a fee for each individual website you want to visit. If the business sector had developed the internet it would be total crap.