Month: March 2013
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The Monopolists in My Back Yard
When I read David Cay Johnston’s new book, The Fine Print: How Big Companies Use “Plain English” to Rob You Blind, realized that robbery is the least of it. Utility monopolies—a major focus of the book—increasingly cut corners on safety. ne such corner cut is coming to a neighborhood near me: it is a 30-inch…
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Joseph Stiglitz Is Right About Inequality, but for the Wrong Reason
Joseph Stiglitz says that “Inequality is Holding Back the Recovery”. He’s right, but he gives the wrong reason, that “our middle class is too weak to support the consumer spending that has historically driven our economic growth.” This “Keynesian” spending model does not effectively address inequality and thus can lead to poor policy prescriptions. The…