Google Adwords : quatre astuces pour baisser le coût de vos campagnes de mots-clés. Il existe deux solutions "impossibles" pour sortir de la crise de l'euro. Is the Wealth Gap Hurting all of Us? Is inequality actually a problem?
In his new book, Nobel Prize-winning economist and Columbia Business School professor Joseph Stiglitz argues that growing inequality and economic unfairness could threaten the stability of the country in the long run. His book, "The Price of Inequality," illustrates how the American economy has been engineered to benefit a few while taking from everyone else -- and why that's a problem. He also lays out ways to reduce the increasing wealth gap in society. Bankrate spoke with Stiglitz about his new book. Why does growing inequality matter?
We care about inequality partly because we pay a high price in terms of our economic performance. The people at the top are not the people who made the most contributions to our society. Could you explain rent-seeking? Rent is a return on income that you get not as a result of your contribution but because of your ownership of land.
After Austerity: what's the best policy for economic growth? – video. Inequality darkens America's future, Nobel winner says. The price of inequality. Joseph E.
StiglitzThe IMF warns that it leads to economic instability America likes to think of itself as a land of opportunity, and others view it in much the same light. But, while we can all think of examples of Americans who rose to the top on their own, what really matters are the statistics: to what extent do an individual’s life chances depend on the income and education of his or her parents? Nowadays, these numbers show that the American dream is a myth. There is less equality of opportunity in the United States today than there is in Europe – or, indeed, in any advanced industrial country for which there are data.
Revenge of the Optimum Currency Area. A couple of months ago I gave a dinner talk for the NBER Macroeconomics Annual conference. For technical reasons I can’t seem to post a pdf, but here’s the writeup — probably pretty scrappy looking — after the jump: Revenge of the Optimum Currency Area Paul Krugman The creation of the euro was supposed to be another triumphant step in the European project, in which economic integration has been used to foster political integration and peace; a common currency, so the thinking went, would bind the continent even more closely together. What has happened instead, however, is a nightmare: the euro has become an economic trap, and Europe a nest of squabbling nations. Well, the answer is that lots of economists could and should have seen it coming, and some did.
These concerns were largely dismissed at the time, with many assertions that the theory was wrong, irrelevant, or that any concerns it raised could be addressed with reforms. The e-diplomacy Hub, A real-time window onto digital diplomacy in action. Prisons, Privatization, Patronage. Vers une période difficile pour les pays en développement « Le Blog du Commerce International. Joseph Stiglitz: Spain Bank Bailout 'Not Going To Work' By Tiziana Barghini NEW YORK, June 10 (Reuters) - Europe's plan to lend money to Spain to heal some of its banks may not work because the government and the country's lenders will in effect be propping each other up, Nobel Prize-winning economist Joseph Stiglitz said.
"The system ... is the Spanish government bails out Spanish banks, and Spanish banks bail out the Spanish government," Stiglitz said in an interview. The plan to lend Spain up to 100 billion euros ($125 billion), agreed on Saturday by euro zone finance ministers, was bigger than most estimates of the needs of Spanish banks that have been hit by the bursting of a real estate bubble, recession and mass unemployment. If requested in full by Madrid, the bailout would add another 10 percent to Spain's debt-to-gross domestic product ratio, which was already expected to hit nearly 80 percent at the end of 2012, up from 68.5 at the end of 2011. Instead, Europe should speed up discussion of a common banking system, he said. From Krugmania to Draghia: Five ways to save the euro zone.
So you’d like to save the euro zone from total annihilation, would you?
Then it might be worth taking a stroll through this new report (pdf) from the analysts at ING, who outline six possible endgames for the euro zone. (KAI PFAFFENBACH - REUTERS) The report starts with the premise that fiscal austerity has become, in author Mark Cliffe’s words, “too big to succeed.” At this point, most European countries only seem to be making things worse through big budget cuts and tax hikes.
That’s paralyzing economic growth, which is making it harder and harder for countries to rein in their debts. “The required austerity to meet mandated budget deficit targets has become unrealistically large,” ING says. Okay, so what’s the alternative? Austeria: Europe sticks to its fiscal targets, with every country trying to get its debt-to-GDP ratio down to 60 percent.