Monday, April 15, 2013

Who Benefits - Who Pays?

As I have said before, this is the central question of politics. It is also a central question of economics. The issue is not "is the system fair?" it is "does the system work for the prosperity of everyone?"

The answer right now is "no."

In fact, that has been the answer for about four decades.

Economist Joe Stiglitz has some ideas about how to make it better.

The central purpose of our national economy should not be to make the already wealthy wealthier or to replicate Downton Abbey.

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