Who is Joseph Stiglitz and what are his credentials?

Joseph Stiglitz and Linda Bilmes, a public policy professor at Harvard University, have publicly defended their belief that the U.S. has barely begun to face the enormous financial bill for the wars underway. By their accounting U.S. has already spent $1 trillion on operations and related defense spending, with more to come–and it will cost perhaps $2 trillion more to repay the war debt.

Stiglitz also expressed the following opinion: “Some have called this new economic regime ‘socialism with American characteristics’. But socialism is concerned about ordinary individuals. By contrast, the US has provided little help for the millions of Americans who are losing their homes. Workers who lose their jobs receive only 39 weeks of limited unemployment benefits, and are then left on their own. And, when they lose their jobs, most lose their health insurance too. In truth, this is not socialism, but an extension of longstanding corporate welfarism. The rich and powerful turn to the government to help them whenever they can, while needy individuals get little social protection.”

Who is Joseph Stiglitz and what are his credentials?

Joseph Stiglitz was Chief Economist of the World Bank. To a great extent, the new world economic order was his theory come to life.

So Stiglitz is no conspiracy nut ranting about Black Helicopters. The man was inside the game, a member of Bill Clinton’s cabinet as Chairman of the President’s council of economic advisors.

In 1999 the World Bank fired Stiglitz. He was not allowed quiet retirement; US Treasury Secretary Larry Summers, demanded a public excommunication for Stiglitz’ having expressed his first mild dissent from globalization World Bank style.

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