Thursday, November 24, 2011

Joseph Stiglitz on the Top 1 Percent

The "1 percent" figure that's bruited about is generally attributed to Joseph Stiglitz, a Nobel-winning economist and professor at Columbia University.

He was interviewed back in May at the communist news network, Democracy Now! Scroll forward to about 2:45 minutes for the start of the interview. Stiglitz waxes longingly about Europe as the land of opportunity, which goes to show you that even the world's foremost economists can't predict what's going to happen even six months into the future. Spain gave the Socialist Party the boot last week, Greece is on lifeline and Germany could bail the Eurozone at any time.
And at Vanity Fair, "INEQUALITY: Of the 1%, by the 1%, for the 1%." (I know, it's the magazine of America's aspiring super-rich, but who cares about the hypocrisy if it gets the message out that inequality is horrible, just horrible!)