Late last year #JosephStiglitz and #RegmiIra published a thoroughgoing analysis of the causes of inflation, finding a mix of price-gouging, capacity failure, supply chain problems, higher rents (thanks to work-from-home) and shifts in the kinds of goods in demand (hand-santizer, home exercise equipment, etc):

https://pluralistic.net/2022/12/14/medieval-bloodletters/#its-the-stupid-economy

26/

This week, *#TheAmericanProspect* is conducting a deep, critical dive into these two models, and into the enterprise of modeling itself. The series kicks off today with a pair superb pieces, one from Nobel economics laureate #JosephStiglitz, the other from *Prospect* editor-in-chief @ddayen and #RakeenMabud, chief economist for the #GroundworkCollaborative.

16/

The Tyee: Are Climate Deaths Really ‘Down 99%’ from a Century Ago? (in News) https://thetyee.ca/News/2023/02/17/Climate-Deaths-Down-Century-Ago/ #bcnews #TheTyee - via @tyee@mstdn.ca #TheCollapseofClimateRelatedDeaths #healthimpactsfracking #GlobalEnergyMonitor #WildernessCommittee #ÉlyseCaron-Beaudoin #FrackingNorthernBC #Impactsoffracking #ElisabethGilmore #CoastalGasLink #JosephStiglitz #PeterMcCartney #MLAJohnRustad #BjørnLomborg #NechakoLakes #NanKendy

Die Schere zwischen Arm und Reich geht auseinander. Um den Trend umzukehren, fordert #JosephStiglitz nun die Einführung eines weltweiten Sondersteuersatzes von 70 Prozent für Spitzenverdiener, denn: „Das wäre ganz klar sinnvoll“.

https://twitter.com/Kontrast_at/status/1617960432764944413?s=20&t=ztymZfxjS_3Hdnmlxc4Zlg

"Actuellement, le taux le plus élevé d'impôt sur le revenu en France est de 45% sur les revenus annuels supérieurs à 168.994 euros. Au Royaume-Uni, il est de 45% sur les revenus au-dessus de 150.000 livres sterling (170 317 euros), et de 37% sur les revenus supérieurs à 495.305 dollars aux Etats-Unis, rappelle The Guardian."

LE PRIX NOBEL #JOSEPHSTIGLITZ PROPOSE DE TAXER LES PLUS RICHES À 70% POUR RÉDUIRE LES INÉGALITÉS
https://www.bfmtv.com/economie/patrimoine/impots-fiscalite/le-prix-nobel-joseph-stiglitz-propose-de-taxer-les-plus-riches-a-70-pour-reduire-les-inegalites_AV-202301230329.html#xtor=CS9-144-[twitter]-[BFMTV]

Joseph Stiglitz: tax high earners at 70% to tackle widening inequality https://www.theguardian.com/news/2023/jan/22/joseph-stiglitz-economist-income-tax-high-earners-70-per-cent-inequality?CMP=Share_AndroidApp_Other

#JosephStiglitz
#Inequality

Globale è bello? Su “Capitale Mondo” di Robert Kurz https://www.carmillaonline.com/2022/12/18/globale-e-bello-su-capitale-mondo-di-robert-kurz/ #RudolfHilferding #globalizzazione #Ilcapitalemondo #PeterSloterdijk #JosephStiglitz #MichelAglietta #WarrenBuffett #DavidRicardo #JosepBorrell #SamueleCerea #capitalismo #DavidHarvey #Recensioni #RobertKurz #sovranismo #UlrichBeck #Archiloco #KarlMarx

Mastodon needs more #JosephStiglitz.

https://www.project-syndicate.org/commentary/fed-interest-rate-increases-counterproductive-all-pain-no-gain-by-joseph-e-stiglitz-2022-12

The Pandemic and War — Not Government Spending — Caused Inflation, According to Nobel Prize Winner

A new paper by Joseph Stiglitz and Ira Regmi has huge implications for everything about who holds power in American life.

#economics #inflation #employment #supply #josephstiglitz

https://theintercept.com/2022/12/12/inflation-covid-war-joseph-stiglitz-ira-regmi/

The pandemic and Russo-Ukraine war (along with market failures and corporate greed) have caused inflation: (academic) https://rooseveltinstitute.org/wp-content/uploads/2022/12/RI_CausesofandResponsestoTodaysInflation_Report_202212.pdf (popular) https://theintercept.com/2022/12/12/inflation-covid-war-joseph-stiglitz-ira-regmi/

#theintercept #jonschwartz #rooseveltinstitute #therooseveltinstitute #iraregmi #josephstiglitz #inflation #pandemic #coporategreed #latestagecapitalism #modernmonetarytheory #mmt #spending #stimulus #covid-19pandemic #covid19pandemic #russo-ukrainewar #russoukrainewar #economics

“Tassiamo i ricchi e i loro super-profitti per vincere l’inflazione e difendere i diritti umani” https://altreconomia.it/tassiamo-i-ricchi-e-i-loro-super-profitti-per-vincere-linflazione-e-difendere-i-diritti-umani/ #evasionefiscale #disuguaglianza #JosephStiglitz #ThomasPiketty #dirittiumani #JayatiGhosh #tassericchi #inflazione #taxtherich #Opinioni #povertà #icrict #ricchi #crisi #fisco

"It wasn't a stroke of genius that led to the liar loans, 100% mortgages, or the spread of variable-rate products. These were bad ideas... the result of forgetting or ignoring the lessons of economic theory and historical experience.

.. while it is exceedingly easy to draw a clear link between these innovations and the economic failures, it is hard to point to any clear link... between "financial-sector innovation" and increased productivity."

#JosephStiglitz, 'Freefall', 2010

#finance

"[Reforming the tax-deductible status of mortgage interest and property taxes] would be opposed by upper-income families and construction companies that make their money from building million-dollar homes... But the current system is neither fair nor efficient. It means that the effective price of housing for our people is actually higher that for the rich."

#JosephStiglitz, 'Freefall', 2010

#housing #tax

"Conservatives don't like this blaming of the market; if there is a problem with the economy, in their hearts, they know the true cause must be government."

#JosephStiglitz, 'Freefall', 2010

"If we can understand what brought about the crisis of 2008 and why some of the initial policy responses failed so badly, we can make future crises less likely, shorter, and with fewer innocent victims. We may even be able to pave the way for robust growth based on solid foundations, not the ephemeral debt-based growth of recent years; and we may even be able to ensure that the fruits of that growth are shared by the vast majority of citizens."

#JosephStiglitz, 'Freefall', 2010

"After each [bailout] the world continued on, much as it had before, and many concluded that the markets were working fine by themselves. But it was governments that repeatedly saved markets from their own mistakes. Those who had concluded that all was well with the market economy had made the wrong inference, but the error only became "obvious" when a crisis so large that it could not be ignored occurred [in the US]."

#JosephStiglitz, 'Freefall', 2010

"... many who had observed the long expansion of the world economy during the era of deregulation concluded that unfettered markets worked - deregulation had enabled this high growth, which would be sustained. The reality was quite different. The growth was based on a mountain of debt; the foundations of this growth were shaky, to say the least. Western banks were repeatedly saved from the follies of their lending practices by bailouts ..."

#JosephStiglitz, 2010

"Paul Volcker, who had been the Fed chairman previously, had earned high marks as a central banker for bringing the US inflation rate down from 11.3% in 1979 to 3.6% in 1987. Normally such an accomplish would have earned automatic reappointment. But Volcker understood the importance of regulations, and [US President Ronald] Reagan wanted someone who would strip them away."

#JosephStiglitz, 'Freefall: Free Markets and the Sinking of the Global Economy', 2010

#inflation

#ClimateChange is our World War III. It needs a bold response | #JosephStiglitz | #Opinion | The Guardian

https://www.theguardian.com/commentisfree/2019/jun/04/climate-change-world-war-iii-green-new-deal

#GlobalWarming