2019-06-29 17:30:00 Sat ET
stock market competition macrofinance stock return s&p 500 financial crisis financial deregulation bank oligarchy systemic risk asset market stabilization asset price fluctuations regulation capital financial stability dodd-frank
Nobel Laureate Joseph Stiglitz proposes the primary economic priorities in lieu of neoliberalism. Neoliberalism includes lower taxation, deregulation, social welfare minimalism, and less government intervention. This ideology has become the root cause of socioeconomic problems such as wage stagnation, income and wealth inequality, market power concentration, and environmental degradation.
In response, Stiglitz recommends 3 major economic policy prescriptions. First, the benevolent social planner should better balance free markets, civil communities, and state mechanisms. The government better shapes and facilitates markets and communities by investing in basic research, technology, high education, affordable health care, and infrastructure. This public investment pays well in terms of more connective communities and market mechanisms.
Second, wealth creation arises from scientific inquiry and social organization that collectively allow people to work together for the common good. Free markets still facilitate most social cooperation, but they serve this major purpose only if market participants are subject to democratic checks and balances and the rule of law.
Third, the government can curb corporate rent protection that might emerge from information advantages, hostile takeovers, or other entry barriers. The government has to sever the nexus between market power and political influence. The current public investment reform should focus on higher education, research, technology, affordable health care, and infrastructure.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2019-05-05 10:34:00 Sunday ET

Former Vice President Joe Biden enters the next U.S. presidential race with many moderate-to-progressive policy proposals. At the age of 76, Biden stands ou
2019-03-07 12:39:00 Thursday ET

A physicist derives a mathematical formula that success equates the product of both personal quality and the potential value of a random idea. As a Northeas
2019-02-28 12:39:00 Thursday ET

New York Fed CEO John Williams sees no need to raise the interest rate unless economic growth or inflation rises to a high gear. After raising the interest
2018-02-11 07:30:00 Sunday ET

President Trump unveils his ambitious $1.5 trillion public infrastructure plan. Trump proposes offering $100 billion in federal incentives to encourage stat
2020-03-19 13:39:00 Thursday ET

The business legacy and sensitivity of Steve Jobs can transform smart mobile devices with Internet connectivity, music and video content curation, and digit
2019-08-16 17:37:00 Friday ET

Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data. The European Commission probes into whether Amazon uses key third-par