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o Mr Stiglitz, this inequality is the result of public policy being captured by a

To Mr Stiglitz, this inequality is the result of public policy being captured by an elite who have feathered their own nests at the expense of the rest. They have used their power to distort political debate, pushing through tax cuts to favour the rich and adjusting monetary policy to favour the banks. Many of the new rich are not entrepreneurs but “rent-seekers”, he says, who use monopoly power to boost profits. Mr Stiglitz's views are representative of clever, leftish America and Mr Stiglitz is (mostly) skilled at making his argument. Imagine, he says, what it would be like if the world had free movement of labour, but not of capital. “Countries would compete to attract workers. They would promise good schools and a good environment, as well as low taxes on workers. This could be financed by high taxes on capital.” The result would be a much more equal society. Mr Stiglitz's argument would benefit, however, from a better sense of history and geography. He points to the period between 1950 and 1980 as one where inequality was much reduced. But that was a highly unusual time. For much of recorded history there has been a huge gap between a wealthy landowning class and the rest; the Rockefellers and Carnegies were much richer (in real terms) than any modern plutocrat. Mr Stiglitz also views the housing boom and bust as another result of misguided American policy, but Spain and Ireland had property bubbles too—and they are much more equal societies.

When it comes to solutions to the inequality problem, Mr Stiglitz wants a top income tax rate of “well in excess of” 50%, targeted fiscal stimulus and greater bank regulation. Here, perhaps, he might have been more open about the trade-offs. Controls on bank leverage, caps on interest rates and greater protection for bankrupts are all likely to reduce bank lending at a time when there already is a credit squeeze. He admits that the 2009 fiscal stimulus was “not as well designed as it could have been”, but blithely hopes that the convoluted American budget-setting process will result in much better stimulus packages in future. Whether or not he has the right answers, Mr Stiglitz is surely right to focus on the issue. Across the developed world, the average worker is suffering a squeeze in living standards while bankers and chief executives are still doing very nicely. This dichotomy is bound to have social and political consequences.

Even the Buddhist ideal of having no desires, and hence no unsatisfied desires, is extremely difficult to achieve and maintain for a whole society – not least of all for younger people (who, Daleiden says, have less self control). Science of morality could never yield a utopia. Nevertheless, science of morality could greatly increase well-being for very many people.[54]

Daleiden's last factor in prosocial training, mental associations, is quite familiar: he says it has been traditionally understood as the conscience – where the student learns to feel empathy, and to feel regret for harming others. Unless an individual can, and begins to feel empathy, it may be unlikely that any amount of reasoning, or any coherent moral system will motivate them to behave very altruistically.

it should be the intention of adults to shape children, or presumably "indoctrinate" them, to think critically. He adds that the focus is on especially socially relevant values (e.g. kindness, sharing, reasoning) and not the more personal

"They’ll say the IMF is arrogant. They’ll say the IMF doesn’t really listen to the developing countries it is supposed to help. They’ll say the IMF is secretive and insulated from democratic accountability. They’ll say the IMF's economic ‘remedies’ often make things worse – turning slowdowns into recessions and recessions into depressions. And they’ll have a point. I was chief economist at the World Bank from 1996 until last November, during the gravest global economic crisis in a half-century. I saw how the IMF, in tandem with the U.S. Treasury Department, responded. And I was appalled."

Initiative for Policy Dialogue In July 2000 Stiglitz founded the Initiative for Policy Dialogue (IPD), with support of the Ford, Rockefeller, McArthur, and Mott Foundations and the Canadian and Swedish governments, to enhance democratic processes for decision-making in developing countries and to ensure that a broader range of alternatives are on the table and more stakeholders are at the table.

Commission of Experts on Reforms of the International Monetary and Financial System Stiglitz at the World Economic Forum Annual Meeting in Davos, 2009. In 2009, Stiglitz chaired the Commission of Experts on Reforms of the International Monetary and Financial System which was convened by the President of the United Nations General Assembly "to review the workings of the global financial system, including major bodies such as the World Bank and the IMF, and to suggest steps to be taken by Member States to secure a more sustainable and just global economic order".[41] Its final report was released on 21 September 2009.[42][43]

Nineteen Eighty-Four is a novel by George Orwell published in 1949. It is a dystopian and satirical novel set in Oceania, where society is tyrannized by The Party and its totalitarian ideology.[1] The Oceanian province of Airstrip One is a world of perpetual war, omnipresent government surveillance, and public mind control, dictated by a political system euphemistically named English Socialism (Ingsoc) under the control of a privileged Inner Party elite that persecutes all individualism and independent thinking as thoughtcrimes.[2] Their tyranny is headed by Big Brother, the quasi-divine Party leader who enjoys an intense cult of personality, but who may not even exist. Big Brother and the Party justify their rule in the name of a supposed greater good.[1]

George Orwell "encapsulate[d] the thesis at the heart of his unforgiving novel" in 1944, and three years later wrote most of it on the Scottish island of Jura, from 1947 to 1948, despite being seriously ill with tuberculosis.[4] On 4 December 1948, he sent the final manuscript to the publisher Secker and Warburg and Nineteen Eighty-Four was published on 8 June 1949.[5][6] By 1989, it had been translated into sixty-five languages, more than any other novel in English at the time.[7

Nineteen Eighty-Four is on Spacious Planet's list of "21 most surprising banned books" for having being banned in Russia and very nearly banned in the UK and the US.[29]

Advocates of 'cliodynamics' say that they can use scientific methods to illuminate the past. But historians are not so sure.

Turchin has been taking the mathematical techniques that once allowed him to track predator–prey cycles in forest ecosystems, and applying them to human history. He has analysed historical records on economic activity, demographic trends and outbursts of violence in the United States, and has come to the conclusion that a new wave of internal strife is already on its way1. The peak should occur in about 2020, he says, and will probably be at least as high as the one in around 1970. “I hope it won't be as bad as 1870,” he adds.

Cliodynamics is viewed with deep scepticism by most academic historians, who tend to see history as a complex stew of chance, individual foibles and one-of-a-kind situations that no broad-brush 'science of history' will ever capture.

Finally, countless Americans are, by world standards, vastly over-paid and have been found out. There is nothing a laborer in Manhattan can do that someone just as competent but living in El Salvador cannot do for perhaps one-fifth the price. It should be no surprise that 6% of the world's population can no longer enjoy 25% of the world's output -- there was no place to go but down.

Normally, the lack of a middle class would preclude a nation from being a world power, but the Anglo-American establishment was able to pay for American industrialization by borrowing British capital; from America’s inception until World War I, it was a debtor nation.

Unlike England, which prior to the welfare state of 1909, really did have a large middle class (roughly 40% of the population) America never did; for most of its history the middle class have never been more than 6% of Americans (probably less the 3% today). Middle Class values were the preserve of the WASP establishment, a small elite of German Jews, an even smaller elite of African-Americansand an assortment of assimilated white “ethnics”, but for the most part the American population was working class; focused on today, consuming all they produced.

In economics, austerity refers to a policy of deficit-cutting by lowering spending often via a reduction in the amount of benefits and public services provided.[1] Austerity policies are often used by governments to try to reduce their deficit spending[2] and are sometimes coupled with increases in taxes to demonstrate long-term fiscal solvency to creditors.[3]