By now seemingly everyone with access to a blog has contributed to the theory Joseph Stiglitz offers up in, of all places, the new Vanity Fair, about the causes not just of the Great Depression, but analogously, what he calls our own "Long Slump."
Nothing could enhance American democracy more than if Occupy Wall Street helped enact the 28th Constitutional Amendment to end the pretense that corporations are people who speak with money. The 99% can stop the privatization of government.
It's time for Wall Street to pay reparations for the financial collapse it caused. It's time for a crash tax, a tiny sales tax on Wall Street transactions, the revenues from which would pay for Main Street restoration.
No one likes to pay taxes, but most Americans understand our country is stronger because we collectively fund our national priorities. But we shouldn't be asking constituents to sacrifice unnecessarily for a counterproductive war.
Nobel Prize-winning economist Joseph Stiglitz, says "Obviously a house divided can't stand -- you start getting tensions, you start not paying attention to the things that make us cohesive as a nation."
As INET Executive Director Rob Johnson said, "last year's conference punctured the mystique of market stability (not to mention real events). This year, the conference will shatter the illusion of control."
A signature feature of the shadow lobbyist era is not just a manipulation of public policy, but also an embrace of "failing upward". No matter the track record, the elite 1 percent seek more of the same.
The delusion of a classless America in which opportunity is equally distributed is the most effective deception perpetrated by the moneyed elite that controls all the key levers of power in what passes for our democracy.
There is large consensus among economists for the long run: central banks will focus on more than just inflation, especially financial stability; but there will be a real challenge in developing an integrated approach.