Economics

Terry Bell says that Capitalism is sick

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Political/economic analyst and labour columnist, Terry Bell.
Political/economic analyst and labour columnist, Terry Bell.

“Capitalism is not dead. But it is severely ill and its chronic contagion is spreading through the economic and social fibres of the world. However, it can be saved and resurrected, but only at the cost of a massive transfusion of blood, sweat, suffering and destruction. Such is the nature of a system based on competition and where material profit is the over-riding priority.” – Terry Bell in A democratic answer to escape from crisis, from his blog Terry Bell Writes.

One of SA’s top journalists and labour columnists, Bell writes regularly for GroundUp. Read:

Voting every five years is not enough – direct democracy is possible.

Who are the real illegal miners?

Strikers refuse to be misled.

Terry Bell on Twitter: @telbelsa

The essential Joseph E. Stiglitz primer

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Uber economist, Joseph Stiglitz.
Uber economist, Joseph Stiglitz.

One of the world’s most influential economists – Joseph E. Stiglitz – is in Johannesburg, South Africa. A University Professor at Columbia University and recipient of the 2001 Nobel Memorial Prize in economics, Stiglitz’s most recent book is The Price of Inequality. Stiglitz will be speaking at the 2014 Discovery Leadership Summit in Sandton on Wednesday 05 March 2014.

Here then, an essential primer to keep you in the know on all things Stiglitz:

“Those at the top have learned how to suck out money from the rest in ways that the rest are hardly aware of,” says Stiglitz, in The Price of Inequality, adding: “that is their true innovation.”

Separate and Unequal – a review of The Price of Inequality at The New York Times.

The 1 Percent’s Problem –  In a Vanity Fair adaptation of The Price of Inequality, Stiglitz talks about the steep costs of inequity. All of Stiglitz’s writing at Vanity Fair.

In no-one we trust – In The New York Times Stiglitz writes about how inequality is eroding people’s faith in institutions and in their way of life. News and commentary about Stiglitz at The New York Times.

The current economic malaise is the result of flawed policies, writes Stiglitz in The Guardian. Find all of Stiglitz’s articles in The Guardian, here.

Stiglitz touts the merits of an increased minimum wage for the US at CNBC.

Find all of Stiglitz’s articles at Slate.com.

Information and the Change in the Paradigm in Economics 2001 – Stiglitz’s lecture at NobelPrize.org

A bio of Stiglitz at The Concise Encyclopedia of Economics at the US Library of Economics and Liberty.

Stiglitz’s home online – JosephStiglitz.com

Stiglitz on Twitter: @JosephEStiglitz