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Professor Stiglitz

From: EQUAL EARTH NOW <equalearth@telefonica.net>
Date: Wed, 22 Oct 2003 13:48:27 +0200
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The same old Boom to Bust cycle


"What could we do about the 1.2 billion people around the world living on less than a dollar a day, or the 2.8 billion people living on less than $2 a day-more than 45% of the world's population?.......

But a dual economy is not a developed economy. Indeed the inflow of resources can sometimes actually impede development, through a mechanism that is called the "Dutch Disease". The inflow of capital leads to an appreciation of the currency, making imports cheap and exports expensive...

They discover that trade considerations trump all others, including the environment!.......

It has shown why markets may lead to the underproduction of some things - like basic research - and the overproduction of others - like pollution...

(how much environmental degradation should we tolerate, if it allows us to have a higher GDP)..."

From Globalization and its discontents

By Joseph Stiglitz, Nobel Prize for Economics 2001 and former Chief Economist of the World Bank and Chairman of President Clinton's Council of Economic Advisors


1.    From accidental birth,

2.    closeted family life to first sex,

3.    marriage and child bearing which sustains the family,

4.    the local community, the nation and all that pertains to it -

5.    to work which at first creates jobs

6.    which creates income

7.    which creates mass-consumption

8.    which creates mass-production

9.    which creates unemployment as ever larger output stimulates automation and robotisation

10.                      which deflates prices as markets become saturated with ever more cheap throw away rubbish

11.                      that has to be unloaded at ever lower prices

12.                      to clear the shelves for ever more of the same

13.                      making fortunes for the financiers, investors and entrepreneurs and

14.                      employing ever larger armies of unproductive, papershuffling bureaucrats behind the debt-financed scams 

15.                      which inflates asset values of property and shares

16.                      which creates the same old exponential construction/stockmarket boom and bust cycle

17.                      which the racketeers exploit  to further impoverish the working slaves

18.                      who must multiply exponentially

19.                      to keep the quantum rackets in business and profit

20.                      with total disregard for the welfare and rights of fellow species,

21.                      nature, forests and oceans

22.                      whose existence is regarded as totally expendable

23.                      unless they serve and submit to - unconditionally -

24.                      the avaricious, insatiable, voracious and unlimited

25.                      economic growth insanity and

26.                      expansionist culture of egoism of humans.

27.                      Stiglitz et al refuse to admit the quantum effect of human over-population which if brought under control and reduced by the same number as the ongoing annual increase would not only lead to a massive improvement in living standards for all but also reduce pollution, resource depletion, deforestation, natural habitat destruction and bio-diversity extermination commensurately - because such an admittance would invoke the question: why did they not address it before it got out of control?






Received on Wednesday, 22 October 2003 08:44:54 UTC

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