#stiglitz

[serialkilluh-1996]

Stiglitz and his resting bitch face ♥︎ took me three days but I am verrry proud

[neubad-plakate]

Grafik: Aaron Dawkins

[samsi6]

When Goldfinch (German: Stieglitz) come to town...

[teregetettszennyes]

Stiegl - weisse

[arianadevareux]

Imagine...

Wicki and Stiglitz helping you learn German.

“I want to understand some of what our enemies are saying, here, men. Can you help me?”

Wicki and Stiglitz shared a questioning glance before it was WIcki that responded.

“We’ll help you. We could give you lessons on our down time.”

[flaneuse-des-steppes]

El poder de los mercados es enorme, pero no poseen un carácter moral intrínseco [...] También pueden concentrar la riqueza, trasladar a la sociedad los costes medioambientales y abusar de los trabajadores y consumidores.

El precio de la Desigualdad - Joseph E. STIGLITZ

[howieabel]

Beyond the speculative and often fraudulent froth that characterizes much of neoliberal financial manipulation, there lies a deeper process that entails the springing of ‘the debt trap’ as a primary means of accumulation by dispossession. Crisis creation, management, and manipulation on the world stage has evolved into the fine art of deliberative redistribution of wealth from poor countries to the rich. I documented the impact of Volcker’s interest rate increase on Mexico earlier. While proclaiming its role as a noble leader organizing ‘bail-outs’ to keep global capital accumulation on track, the US paved the way to pillage the Mexican economy. This was what the US Treasury–Wall Street–IMF complex became expert at doing everywhere. Greenspan at the Federal Reserve deployed the same Volcker tactic several times in the 1990s. Debt crises in individual countries, uncommon during the 1960s, became very frequent during the 1980s and 1990s. Hardly any developing country remained untouched, and in some cases, as in Latin America, such crises became endemic. These debt crises were orchestrated, managed, and controlled both to rationalize the system and to redistribute assets. Since 1980, it has been calculated, ‘over fifty Marshall Plans (over $4.6 trillion) have been sent by the peoples at the Periphery to their creditors in the Center’. ‘What a peculiar world’, sighs Stiglitz, ‘in which the poor countries are in effect subsidizing the richest.

David Harvey, A Brief History of Neoliberalism

[elladastinkardiamou]

2 Views of Angela Merkel’s Legacy: Stoic Leadership, and Economic Malpractice

“She adamantly opposed debt forgiveness to Greece, even as it teetered toward insolvency, and even as joblessness exceeded 27 percent — a special source of outrage given that German banks were primary lenders in Greece’s catastrophic explosion of borrowing.

“She was at the heart of the design of the flawed Greek program, which not only imposed austerity, but most importantly resisted restructuring the debt in order to save the German and French banks,” said Joseph E. Stiglitz, a Nobel laureate economist at Columbia University in New York. “The rhetoric that she used suggested that the crisis was caused by irresponsible behavior by Greece, rather than irresponsibility on the part of the lender.”

In place of public spending to soften the edges of the crisis, Ms. Merkel used Germany’s power as the largest economy in Europe to force troubled governments to slash support for pensions, health care and education. In the process, the moves helped lengthen and deepen a devastating economic downturn.

“This is what history will remember, a complete mismanagement,” said Amandine Crespy, a political scientist at the Institute for European Studies at the Free University of Brussels. “Austerity very clearly has deepened or even created this great gap, political fragmentation between the north and the south, between the debtors and the creditor countries that is very, very difficult to fix, and has had dramatic political consequences in terms of fueling the populist forces.””