No Return To Normal - the Galbraith article | 96 comments (96 topical, editorial, 0 hidden)

Re: No Return To Normal - the Galbraith article (4.00 / 3)

I don't know where "Market Fundamentalism" comes from, but it features prominently in Stiglitz's Globalization and its discontents. Stiglitz was on the opposing camp to that of Rubin and Summers during the Clinton administration, something that he also talks about in his book.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Carrie (migeru at eurotrib dot com) on Fri Mar 20th, 2009 at 05:59:08 AM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (4.00 / 3)

Stiglitz would be a great advisor, but he admits being too outspoken for a government worker...

I keep wondering what other perspectives are being considered by Obama...or is he just going on his faith in these particular experts?

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia

by whataboutbob on Fri Mar 20th, 2009 at 06:04:01 AM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (4.00 / 2)

whataboutbob:

Stiglitz would be a great advisor, but he admits being too outspoken for a government worker...

Joseph Stiglitz - Wikipedia, the free encyclopedia

Stiglitz moved to Washington in March 1992 to join the Clinton Administration, first as a member, and then as Chairman of the Council of Economic Advisers, in which capacity he also served as a member of the cabinet. He became deeply involved in environmental issues, which included serving on the Intergovernmental Panel on Climate Change, and helping draft a new law for toxic wastes (which was never passed).

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Carrie (migeru at eurotrib dot com) on Fri Mar 20th, 2009 at 06:10:21 AM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (4.00 / 2)

I can't remember the source, but Stiglitz just had an interview in the last week or two where he said he was happy to be an academic now, because he can state his opinions without censorship

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia

by whataboutbob on Fri Mar 20th, 2009 at 06:17:46 AM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (4.00 / 2)

Government is a collegial affair - you cannot state opinions contrary to the government's consensus and remain in a cabinet post for long.

That is not censorship.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Carrie (migeru at eurotrib dot com) on Fri Mar 20th, 2009 at 06:19:20 AM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (none / 0)

Obama CLAIMS to want a diversity of opinions in his administration. I would settle for quarterly round tables consisting of his entire economic team, top Treasury people, if there are any besides Geithner, Bernanke, and a group of outsiders who are priviledged to ask questions and follow up those questions vigorously, with Obama presiding. The outsiders should include Stiglitz, J. Gailbraith, Krugman, Roubini, Soros, Mason Gaffney, etc.

Having the whole proceeding broadcast on CSPAN would be icing on the cake. Obama could demonstrably fulfill his pledge to "seek a wide range of opinions" and the country could have the confidence that at least all serious options and opinions had been considered.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Mar 22nd, 2009 at 06:26:05 PM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (none / 0)

Isn't that why you have a Congressional committees on economic affairs?

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Carrie (migeru at eurotrib dot com) on Sun Mar 22nd, 2009 at 06:28:12 PM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (none / 0)

Well, a congressional committee would probably call one or two outside experts to give testimony, but would not likely have a free wheeling round table discussion driven by questions from those who are critical of the dominant narrative. Might as well dream big.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Mar 22nd, 2009 at 06:54:11 PM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (4.00 / 2)

It wasn't that he was too outspoken. He just didn't want to move back to DC.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Fri Mar 20th, 2009 at 09:07:55 AM EST
[ Parent ]

Re: No Return To Normal - the Galbraith article (none / 0)

whataboutbob:

Stiglitz would be a great advisor, but he admits being too outspoken for a government worker...

man, that irks...

shades of bushie yes-men. tightlipped bureaucrats only need apply.

we have to evolve governments that encourage candid participancy. this smacks so of apparat.

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Sat Mar 21st, 2009 at 07:13:27 AM EST
[ Parent ]

No Return To Normal - the Galbraith article | 96 comments (96 topical, 0 editorial, 0 hidden)

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