May 27, 2016

Tho Bishop on Joseph Stiglitz selling government intervention as a "new innovative concept"

Last year, as chief economist for the Roosevelt Institute, [Joseph] Stiglitz called for “rewriting the rules of the American economy” in a crusade against income inequality. His policy recommendations include higher taxes, more “smarter” regulation, and having the Federal Reserve focus more on unemployment than keeping inflation low — a call for an even more activist Fed than we’ve had since 2008.

It is ironic that Stiglitz has chosen to brand his policy recommendations as some new innovative concept for the country, when it is simply doubling down on the interventionist policies that the nation has suffered from for over 100 years.

~ Tho Bishop, "Clinton Adviser, Nobel Prize Winning Economist Endorsed Venezuelan Socialism," Mises,org blog, May 23, 2016

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