Paul Krugman – Tomislove.com

Inequality Exposed

admin — Wed, 30 Apr 2014 21:27:50 +0000

I have read several good article about income inequality. They are all discussing a new book by Thomas Piketty (Professor at the Paris School of Economics) with the title: Capital in the Twenty-First Century

I work with data all day and his analysis of a century of (income) data makes it very clear what we all see around us: unregulated capitalism naturally widens the wealth gap between rich and poor, and will continue to do so.

According to Piketty, we live in a “Belle Époque” — defined by the incredible rise of the “one percent.”

His works put the fear right to the bones of all conservatives: James Pethokoukis of the American Enterprise Institute warns that Mr. Piketty’s work must be refuted, because otherwise it “will spread among the clerisy and reshape the political economic landscape on which all future policy battles will be waged.”

I guess you should read this and this discussion by Paul Krugman.

Another thing is also funny, the conservatives try to downrate his work on Amazon via 1 star reviews, but reading them makes me just laugh. They are pretty hilarious. Paul Krugman quotes: “The really striking thing about the debate so far is that the right seems unable to mount any kind of substantive counterattack to Mr. Piketty’s thesis.” If you read the 1 star reviews, you will have a pretty good laugh.

I downloaded them for this Huffington Post article.

I am full of hope as there are economists now supporting my views about income & wealth inequality the result will be a feasable solution. Not for me in person, but for my little boy and all other children on this planet. Do not want him to grow up in a world I can only imagine being something like what I have seen in the movie the Hunger Games.

Inequality – some recent comments from the pope, Obama & Paul Krugman

admin — Thu, 12 Dec 2013 00:25:37 +0000

First watch this video, a discussion between Paul Krugman (Professor of Economics and International Affairs at Princeton University, a 2008 Nobel laureate, and an Op-Ed columnist for the New York Times) and Sir Tony Atkinson, Professor of Economics at the University of Oxford,

Then read this very powerful statement of the pope about inequality here. Some for the inpatient.

And then President Obama on the issue of inequality.

Where are the actions if a spiritual leader and the most powerful world leader and great economist/ Nobel laureate agree we have a problem?

negative interests rate – winter is coming

admin — Wed, 20 Nov 2013 19:00:05 +0000

If you have been following the economic news, you might have heard about Larry Summers speech at the IWF. He essentially says that to reach full employment we need a negative interest rate. Yes, you read that right. People hoarding money on bank accounts should be punished for saving. His argument makes a lot of sense. We have been living in a bubble economy and the bubbles have been providing us with the capital for growth. If those bubbles are gone, we must replace that capital influx and to accomplish this we need all the savings to be released. Makes sense?

The keyword is secular stagnation because the natural rate of interest equals the rate of population growth (Samuelson consumption-loan model). If this is true we are entering into a very, very long period of economic stagnation. What is the population growth of your country?

Paul Krugman supports Larry Summers view here.