Theme: Incentives

Neither of the issues Stiglitz mentions will make any difference because the problem we face is (a) human capital is no longer in reserve in europe, but underperforming from the third world, (b) we have concentrated all growth in a few immigrant cities that are all on the edge of bankruptcy, and these are so expensive they have become ovary graveyards; and (c) proximity creates hostility because of signaling competition and cannot be fixed. There is no reason that what failed in levantine/semitic civilization will not fail here in western civilization. (d) the reason that we are in decline is reproductive redistribution downward and a continuous drop in human capital because of it, and this is caused by (e) the consumption of all income produced the the addition of women into the workforce by taxation and redistribution to said underclasses, and (f) the financialization of the economy wherein trillions are extracted from working families but not under and upper classes, thereby creating the reproductive redistribution. On top of that (g) unions caused the industrial, technological, and job flight. GM alone is priced out of the market by intergenerational rents that cannot possibly be paid, and should never have been tolerated as a legal obligation.

I can’t even believe he’s dishonest and incompetent enough to even make those two nonsense arguments.

Hence why I write so much about economic pseudoscience, particularly via Krugman, Stiglitz, and DeLong.

I am fairly sure they know what evil they do, and they do it precisely because it is evil.