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Desc:Nobel Prize of economic sciences validates what you already know to be true of America
Category:News & Politics, Educational
Tags:economics, class warfare, Common Sense, job creators, Joseph Stiglitz
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Comment count is 15
jangbones - 2012-08-01
When is the last time American policy was predominantly driven by intellectuals and not by the economic elite?

If you enjoyed this video, Glenn Greenwald interviewed Chris Hayes about his book "Twilight of the Elites" and it is fucking mindbending;

deadpan - 2012-08-02
I listened to that while I was at work!

It was really depressing!

Old_Zircon - 2012-08-02
His MSNBC affiliation doesn't exactly inspire confidence (MSNBC is pretty much the Fox News of the left, although they haven't taken it as far as Fox), but I'll read that book.

Old_Zircon - 2012-08-02
Incidentally, the definitive case against meritocracies is the SomethingAwful forums.

Old_Zircon - 2012-08-02
This interview is excellent, thanks for posting it.

Robin Kestrel - 2012-08-02
MSNBC is not the Fox News of the left. There is nothing even close to a left-wing analogue of Roger Ailes.

SteamPoweredKleenex - 2012-08-02
Robin is spot-on.

Fox News is what the right wing thinks the rest of the media is like, only liberal. Yet there's no leftist doughy guy so scared of his "enemies" that they've installed bomb-proof glass on their office to protect themselves from "gay terrorists."

What reporters and talking heads at other networks would get fired for, Fox gives bonuses for.

jangbones - 2012-08-03
Glad you liked that interview. Regardless of affiliation, Hayes is a free thinker, and he's obviously done his homework on a complex and slippery subject.

Zircon, Hayes' excellent point about the failure of meritocracies was one of my favorite (if chilling) points he made, and your comparison sums it up elegantly.

Vaidency - 2012-08-02
Our descendants will one day look back on this era when our society clearly valued speculators at a higher level than researchers and craftsmen and wonder how we ever allowed it to happen.
Callamon - 2012-08-02
Make sure you watch the second half.
craptacular - 2012-08-02
i don't buy the argument that speculators are evil because they don't produce anything. sure, their tax rate could/should be higher, but they're not evil just because they don't produce goods or "productively contribute" to society.
still, loves me some angry jewish economist talk
Hooker - 2012-08-02
Good thing nobody said anything close to "speculators are evil."

cognitivedissonance - 2012-08-02
If somebody needs to say it, I will. Speculators are evil.

jangbones - 2012-08-03
Too much speculation is evil. Speculation without accompanying risk is evil. Enitre trillion dollar sectors of a nations economy completely built on speculation is evil. Speculation without punishment for failure is evil.

So, speculation isn't evil, but speculation in the American economy in the last 20-25 years or so definitely fucking qualifies.

memedumpster - 2012-08-02
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