No question Stiglitz is no Marxist --- I wonder if he ever considered it seriously .... When he was a graduate student at Cambridge University, he was very much into very high powered mathematical economics --- (and he was only there one year) ---
I think his experiences in the real world woke him up to the deficiencies of simple-minded neo-classical economics but he had never acquired the tools to (sorry for quote dropping) -- "lay bare the economic laws of motion of society" --- But his detailed and devastating criticisms of neoliberalism --- both in international economics as well as domestic are extremely useful --- I am sure most current graduate programs ignore his critiques but I bet lots of students and professors are exposed to them .... I would love to see, say, Monthly Review do a detailed analysis of Stiglitz's oeuvre --- On how to "get there" I bet Stiglitz still believes that if "the majority" wants something they can force it through the political system --- he fails to realize that even the half-baked social democracy of the New Deal occurred because of the REAL DANGER from communist and fascist alternatives to 1930s American capitalism --- which forced part of the ruling class to "accommodate" --- and of course ever since the end of the 1960s they have been fighting back (and winning!) On Mon, May 13, 2024 at 9:13 AM Mark Baugher via groups.io <mark= [email protected]> wrote: > Some of us thought about Joseph Siglitz this weekend. He provided an Op > Ed today in the Washington Post: > > "Neoliberal capitalism has thus failed in its own economic terms: It has > not delivered growth, let alone shared prosperity. But it has also failed > in its promise of putting us on a secure road to democracy and freedom, and > it has instead set us on a populist route raising the prospects of a > 21st-century fascism... > There is an alternative. A 21st-century economy can only be managed > through decentralization, entailing a rich set of institutions — from > profit-making firms to cooperatives, unions, an engaged civil society, > nonprofits and public institutions. I call this new set of economic > arrangements 'progressive capitalism.'" > https://wapo.st/3wy6NKy > > I think there's little to disagree with except for his conclusion: How do > we achieve 'progressive capitalism' if the capitalists don't go along with > this program? Is it just a matter that Milton Friedman misled the powerful > and now Joseph Stiglitz is pointing out that Friedman was wrong? I think > that US capitalism needed Milton Friedmans in the 1970s and still do. > Consideration of historical forces and class struggle are missing from the > Op Ed, which describes a problem but no solution. > > Mark > > > -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#30317): https://groups.io/g/marxmail/message/30317 Mute This Topic: https://groups.io/mt/106071997/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
