Senator Elizabeth Warren (D-MA) has a new idea–she wants to bring back repealed portions of the Glass-Steagall Act of 1933. The bill is, surprisingly, co-sponsored by John McCain (R-AZ). Warren’s student loan scheme was ill-conceived, but is this idea better? Let’s find out.
Tag: Joseph Stiglitz
Inequality: Krugman vs. Stiglitz
There’s an interesting debate going on within Keynesianism at the moment about whether or not the present economic malaise in much of the western world can be accredited to the persistent rise in inequality that has transpired over the last thirty years or so. Arguing in favour of the inequality connection is Joseph Stiglitz; arguing against is Paul Krugman. I’d like to examine what both economists have to say on the topic and deduce as best I can my own view on the subject.
Benjamin Studebaker 