DAVOS 2009: Future of capitalism & market economy

Prof Joseph Stiglitz on the mood of DAVOS 2009. Prof Nouriel Roubini on avoiding a "L" shaped depression.
Source: http://video.forbes.com

Category:

News & Politics

Tags:

• DAVOS
• economy
• recession
• Columbia
• university
• Joseph Stiglitz
• Forbes
• world forum
• IMF
• capitalism
• globalisation
• markets
• Nouriel Roubini
• NYU

[ribcat]

self regulation = no regulation.

income distribution is always going to be unfair. just like anything else. take foodball for example. coaches will pick their sons or some former NFL players sons to be their QB. that's just how life is.

[yourcamden]

capitalism does not work for humanity, we need a new system.

[SuntzuMocro]

@yourcamden i totally agree with except for what you say about communism, It has never worked. capitalism has great benefitis but are those benefits worth the great sorrows they defect upon society?

[yourcamden]

@SuntzuMocro At one time capitalism did work for humanity, at one type communism did work to redress the balance, however neither of them work for humanity now. We live at a time when under 5% of the world own more than 50% of the wealth. Many of them squander ever decreasing resources.

Many good and important things are NOT done, because there is no financial profit in doing them, although humanity needs them.

[SuntzuMocro]

@needparalegal never in the past 5000 years have we seen conclusions been made without thorough research.

[SuntzuMocro]

@yourcamden shouting out statements without proof will not work for humanity, we need a new system. (although i conditionally agree with your statement).

[needparalegal]

Epic Greed + Epic Corruption = we get fucked. We may have had more corruption in history but never before in the last 5000 years has humanity seen greed of this magnitude.

[ytgv3fc7]

@yourcamden there's a foolish video that's making Youtube rounds about defending capitalism. The speaker yells like a child then accuses others of being children. He can't defend or deny: capitalism will make something scarce to give it dollar-values and profiteering is theft, so captialism is bad. Corporate capitalism is pure evil. It's a mafia.

[ytgv3fc7]

wow, this guy is a liar and an idiot. Delivering back the stolen money to the people, not to the bankers, would have fixed a lot of economic problems - including getting rid of fraudulent banksters.

Choose wisely while you have options - SAY NO TO HANKY-BANKY by MAFIA-BANKSTERS

[alex94115]

Sure there are some "unfair" aspects to income distribution. But if you took all the money in the country and distributed it to all the citizens the people who have the money now would have it in 5 years. They would create business opportunities and things the lazy less motivated people would buy. THIS WAS NOT A CAPITALISTIC problem. we haven't had free market capitalism. artificial low interest rates etc is not free markets

[Nickalispicalis]

Might aswell. History is odd thing. Everything seems to come full circle.

[nocheenlatierra]

Hm... then I guess it's time to dust off "The Gulag Archipelago" as well.