Word: stiglitz
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...across the world. “It’s impossible to evaluate the cost and benefits of the war if you don’t have an accurate picture of what the cost is,” she says. Bilmes collaborated with Nobel prize-winning economist Joseph E. Stiglitz of Columbia University to calculate the mind-boggling quantity. They presented their findings at a conference in Boston this past January.Bilmes and Stiglitz say their estimate is four times the projections from the Congressional Budget Office (CBO). But that CBO sum only takes into account the direct costs of waging...
...creation comes through foreign investment, which is often the greatest driver of employment, technological progress, and benefits to consumers," says Ian Goldin, a vice president of the World Bank and co-author of a new book on globalization and development. Columbia University's Joseph Stiglitz, a Nobel prizewinning economist, adds a further thought: nations, he says, want to pick and choose between bits of globalization that benefit them and those that don't. "We believe that exports are good but imports are bad," says Stiglitz, "we believe in trade but only on one side, and that if things were fair...
...moving to the left. Bill Clinton was a free trader in the 1990s; Hillary Clinton opposed the Dubai Ports deal and voted against the Central American-Dominican Republic Free Trade Act in the 2000s. "I think we've pushed too far in the direction of unfettered markets," says Joseph Stiglitz, a Nobel-prizewinning economist who chaired Bill Clinton's Council of Economic Advisers. "Markets aren't perfect. They don't deal with security issues, for example. And though President Clinton tried to emphasize it, we didn't do enough to address the impact of globalization on the American middle class...
...there may be-dare I say it?-a third way available, a path between market worship and protectionism. Stiglitz and other moderate Democratic intellectuals believe that the heart of "economic security" as a political strategy should be a drastically revised social safety net for American workers. By offering universal health insurance and government-subsidized pension reform, Washington would relieve U.S. companies of those two burdens. Also helpful would be wage insurance, which would soften the blow for laid-off workers forced to take lower-paying jobs, and a turbo-charged government effort to promote new industries (like alternative fuels...
...discrepancy is in part because of Bilmes and Stiglitz's holistic accounting methods...