Joseph Stiglitz on People, Power, and Profit | Munich Security Conference 2020
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- Опубликовано: 11 июн 2024
- Joseph Stiglitz is a Nobel Prize-winning economist and professor at Columbia University. In his work, he has been focusing on income distribution, asset risk management, corporate governance, and international trade. He is an outspoken critic of unregulated capitalism and the current state of international economic governance. At #MSC2020, Stiglitz discussed with us his latest book "People, Power, and Profits: Progressive Capitalism for an Age of Discontent".
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One of the better & more succinct of many talks by Prof. Stiglitz. Timely & highly recommended.
Congratulation again to the master Joseph Stiglitz for his ample and acute knowledge. I remember Joseph Schumpeter who talks about private monopoly power and innovation and the direct relationship between them. But as Stiglitz said we need to regulate this monopoly power because it´s only interested in business and profits. One of the ways to internalize the social profits in private businesses and innovation processes is related to due regulation to get it. Then, put on the same convergence line the private and public benefits according to the great goals of social benefits and economic growth in the long run. Particularly, monopoly power has to be regulated to balance private power and create a framework of genuine competitive market relations. All of these matters include the political market, I mean a genuine democratic game. I think this is the first step to renew social participation in the new context to recover the trust and confidence in the new way of global capitalism expression of today.
Push on weakness and test the strength.
Repeat...
I'd like it polled. Do you trust your government to act on your best interest ? by demographic
The 16:36 comment in reference to those who study economics is very interesting.
indeed. it is like they get a mental frame that makes them let their demons out, similar to the role of theology during Inquisition
Though it superficially does not appear to be so, the loss of true generosity, treat your neighbour as thyself mentality, along with many other qualities lies at the base of greedy, exploitative behaviour. The interesting thing is when this depletes in the mind paradoxically the ability to be joyous depletes too, just like in the Chrismas Catol, Ebenezer 's heart.
💡
I've come to see the U.S. as a predatory society. Wish it would change.
I already answer that. Why you asking again? Why is the question? Probably, I cannot be 100% sure, but I was caught in the middle of hard ball politics inside the political zoo of Washinton DC. The summary is that, I have payed US 200.000 for studying at George Washington University just to see my life ruining since then. Not even if I was the worst person on earth I would deserve such miserable destiny. GWU enjoyed the US$ 200.000 (back then). I enjoyed nothing at all not even more or less, just plain ruin. Again, Why? The process of being admitted to an American University is carefully done, since the letter of acceptance of the University, the latter of financing of the Brazilian Agency who will pay for the tution, untill the issuing of the student Visa by the local American General Consulate. Everthing is well explained but the miserable results such as desqualification , abruptly interruption of working Visa at the World Bank and back then in Brazil, thousands of Resumes without response ( I said thousands). Then, in Canada I worked for 8 month sit in chair without doing anything at all (doing nothing can you believe). The kind of work I develop at World Bank is available, you can perfectly read it and evaluate what I have done. Why is still the question my friend. Well at age of 64? the Why is no so relevante anymore. This whole story just reveal that America has developed a polítical system much very similar to Comunist China, and for some reason, what has happend to me, and is still happening, is a result of cruelty of a country transvestite of Democracy but in reality is a miserable dictatorship. In the end, that is the reason America had transfered all its industrial assets to Comunist China and not to Mexico or Brazil. Otherwise, we will be like Comunist China and none of that would ever happen to me. Then, Why America has done that to me? Why?
My sacrifice 🙏🏻it’s my opinion on the USA sanctions, don’t make any progress for economic prosperity. What’s happening with a lot of conditions for any reason just to be advantage first and for the USA government stability reference, please advise me what’s to do. 😊
Do you trust your government to act in your best interest?
I'll wager most wont understand the question.
( what's your best interest ? )
Job, health, safety and stability
The proletariat?
The beauty of a representative democracy is that the people decide what’s in their interest and use the government as a mechanism to manifest that interest through policy (assuming government hasn’t been hijacked by corporate interests like in the US)
tell me which society are you talking about, and I will tell you which kind of government is ruling that society
Economics suffers badly from the fact that it is a science that lacks the protection from the prestige gained from aging, as is the case with physics which results from repeating experimentation every time which emphises the foundations of that science in different, varied, and surprising ways. And all reinforce that science.
The author Walid Ahmed Kamal Al-Hababi, in his book "The Economic Risk Theory" (the Islamic Macroeconomic System), deals with achieving maximum benefit, detailing the new economic system, which is called the "risk" system in which wealth is distributed to everyone, as it is a stable and more efficient system than the system of free market.
In his book "The Theory of Economic Risk" (The Islamic Macroeconomic System), the author believes that the basic idea of this book is to clarify the idea of how to use the principle of time preference in imposing taxes, in order to motivate everyone to invest and raise productivity through tax.
He also touched on the state's duties regarding its implementation and the extent of its participation in the market accurately.
The author spoke of the zakat banks as the state budget, while the state budget remains the most controversial point among policy makers in countries.
At the same time, the writer believes that while economic writings are scarce from a total point of view, there is no writer who spoke about a holistic Islamic economy as a previous system; So this is the only writing, up to the moment.
You cannot change a system by fighting the existing truth, as Muslim economists always do, but to change something, you must create a model that makes the current system an outdated system. furthermore If we know that this system achieves the highest rate of spending in a country without need for other economic resources - without taxes or anything else - thus we can see that we are facing unique writings. Whereas, it lays out clear features for the Islamic economy that distinguish it completely from the socialist and capitalist economies, and not a fabrication to be similar to either of them.
And he affirms that with this system, other systems will not be able to catch up with our economic progress, no matter what efforts are made, except to implement it.
On the other hand, he believes that we will not be able to catch up with the West economically with the current systems, no matter what we try.
Finally, the author asserts, that economics is the only thing that clarifies the purpose of Islamic customs and rituals apart from their devotional meaning in human life. So that it can be proven without doubt that it is indispensable for a person to perform it such as Hajj, Zakat, prayer ... etc.
He also confirms that all of this is found in the book (The Theory of Economic Risk) in this book issued by the House of “Yemeni Books” for printing, publishing and distribution within 305 pages and distributed in three main chapters, that this Islamic macroeconomic system is; He is the one who will bring us the maximum benefit
يعاني علمُ الاقتصادِ بشدةٍ من أنه العلمُ الذي يفتقدُ إلى الحمايةِ التي تُؤمنها الهَيبة المكتسبة من تقادم العمر، كما هو الحال مع علمِ الفيزياءِ الناتج عن ترسيخ التجربة المتكررة في كلِ مرة للأسس بطرقٍ مختلفةٍ، ومتنوعةٍ، و مدهشةٍ. وجميعها تعززُ مكانة ذلك العلمِ.
وتناول المؤلف وليد أحمد كمال الحبابي، في كتابه" نظرية المخاطرة الاقتصادية" (النظام الاقتصادي الكلي الإسلامي) تحقيق المنفعة القصوى، إيراد تفاصيل النظام الاقتصادي الجديد ، والذي يسمى نظام "المخاطرة" والذي تتوزع فيه الثروة على الجميع ، باعتباره نظاماً مستقراً أكثر كفاءة من نظام السوق الحر.
ويرى المؤلف في كتابه" نظرية المخاطرة الاقتصادية" (النظام الاقتصادي الكلي الإسلامي) تحقيق المنفعة القصوى، أن الفكرة الأساسية لهذا الكتاب تكمنْ في توضيح فكرة كيفية استخدام مبدأ التفضيل الزمني في فرض الضريبة، وذلك لتحفيز الجميع على الاستثمار ورفع الانتاجية من خلال الضريبة.
كما تطرق الى واجبات الدولة بخصوص تطبيقه ومدى اشتراكها في الأسواق بدقه .
وتحدث المؤلف عن أن مصارف الزكاة تعتبر هي موازنة الدولة، فيما تظل موازنة الدولة هي النقطة الاكثر جدلا بين صانعي السياسات في البلدان.
وفي الوقت نفسه يرى الكاتب أنه فيما تندر الكتاباتُ الاقتصاديةِ من ناحيةٍ كلية، ولا يوجد كاتبٌ تحدث عن اقتصادٍ إسلامي كلي كنظام سابقًا؛ وبالتالي فهذه هي الكتابة الوحيدة، حتى اللحظة.
ويضيف لا يمكنك تغيير نظام بمحاربة الحقيقة القائمة، كما يفعل ذلك الاقتصاديون المسلمون دوما ، ولكن لتغيير شيءٍ، يجب عليك وضع نموذج يجعل النظام الحالي نظام عفا عليه الزمان؛ فإذا علمنا أن هذا النظام يحقق أعلا معدل إنفاق في دولة بلا موارد اقتصادية_ دون اللجوء إلى ضرائبٍ، أو غيرها_ فحينها يمكن أن نرى أننا أمام كتاباتٍ فريدةٍ من نوعها؛ حيثُ أنها تضع للاقتصاد الإسلامي ملامحًا واضحةً تميزهُ تمامًا عن الاقتصادين الاشتراكين و الرأسمالين، وليس تلفيقًا ليشابه أحدهما.
ويؤكد أنه بهذا النظام لنْ تتمكن الأنظمةُ الأخرى من اللحاقِ بتقدمنا الاقتصادي مهما بذلت من جهود سوى تطبيقه.
وعلى الجانب الآخر يرى أننا لن نتمكن نحنُ من اللحاق بركب الغرب اقتصاديًا بالنظم الحالية مهما حاولنا.
وأخيرًا يجزم المؤلف، إن الاقتصاد هو الشيء الوحيد الذي يوضح الغرض من العاداتِ والعباداتِ الإسلامية بعيدًا عن معناها التعبدي في حياة الإنسان؛ بحيث يثبت بما لا يدع للشكِ أنه لاغنى للإنسان عن القيام بها من حج، وزكاة، وصلاة... الخ.
كما يؤكد أن كل ذلك نجدهُ في كتاب ( نظريةُ المخاطرةِ الاقتصاديةِ) في هذا الكتاب الصادر عن دار "الكتب اليمنية" للطباعة والنشر والتوزيع ضمن 305 صفحة وموزع على ثلاثة أبواب رئيسية ، أن هذا النظام الاقتصادي الكلي الإسلامي؛ هو الذي سيحققُ لنا المنفعة القصوى..
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,,لتنزيل نسخة مجانية من الكتاب
www.mediafire.com/file/tvpyra7ojgvocbc/الاقتصاد+الكلي+الاسلامي.pdf/file
لمشاهدة لقاء مع المؤلف حول موضوع الكتاب يرجى زيارة الرابط التالي
ruclips.net/video/GnFWgDlzWt0/видео.html
ارجوا ان يتم وضعه كمادة تدرس في المنهج الدراسي لطلبة الاقتصاد في الفصل القادم
وشكرا..
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And. .
.thanks
...alot
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On further thought , I've come to see most nations as predatory , which is in the hands of policy makers to right the practices.
I'm looking forward to these new constitutional laws Russia is about to try to pass, if I miss my guess , it will be a modernization and correction of that kind of distortion.
Do you still hold your opinion about Russia?
@@ram1011
There constitutional changes were not as extensive as i had thought they were going to but a draft to change the term limits of a president. Which I see as a stabilizing force rather than any grasp for a malevolent and self interested Putin. I believe in the autocratic strongmen keeping the ship steady and think that is , putin ,xi ,Erdogon and perhaps Mr Chávez...intent in the new era to keep the hard fought for progress moving in the direction they initiated and intend.
Haven't heard much from Mr putin truthbto tell , he seems to be quite in Kremlin as a west thrashes in a trade war and a rebalance of there economics. I think there playing there cards pretty close to the chest because of stuff like Nordstream 2 sanctions and believe it wise to keep there project list between participating parties and friends. In short I think there quietly doing well, I hope so anyway.
Saw some new s on a recent trilateral meeting of India Russia and chinas foreighn ministers agreeing to agree on mutually beneficial noise concerning multlaterlism and trade, which I found encouraging as a good omen.
Hugo Chavez...I meant Maduro.
Sorry.
Just occurred to me. Something in the back of my mind that said " somethings wrong ??? "
Every dollar of "government " support does not come from the goverment it comes from the tax payer by order of the goverment. I preffer to donate my money to whom i want to donate, not as politians want me to donate for their own selfish interest.
Stiglitz dies not substantiate with evidence
Communism didn't pull "750 million people out of poverty." Anyone with one eye open knows this. The West, Capitalism, the US sending all our manufacturing overseas did, along with Clinton Administration granting the CCP "most favored nation status" (which was as absurd as having them on the human rights counsel at the UN along with other horrifically evil regimes), and bringing them into the WTO, etc..
As with everything else, that status should be earned first.
"Basic Science rests on foundation of public expenditures."
Think upon this idea for a moment if you have any depth whatsoever.
...as if the government produces ANYTHING, and instead doesn't just spend what the free market has created from creativity, demand, etc.. To not understand the basics of cause and effect in your sixth or seventh decade is it pretty sad state of affairs.
The free market is nothing more than a set of rules and norms maintained and enforced by the state. This distinction between the state and modern market economies doesn’t really exist.
It was the US promotion of “free market principles” that lead to offshoring of many of our US based manufacturing jobs.