Joseph Stiglitz: Australia should not follow the American path to inequality

[Walter]

Does Tony Abbott's government understand what deregulation and liberalisation have done to the US economy, asks Joseph Stiglitz:

Australia's public services are the envy of the world. Its health-care system delivers better outcomes than the US, at a fraction of the cost. It has an income-contingent education-loan programme that permits borrowers to spread their repayments over more years if necessary, and in which, if their income turns out to be particularly low (perhaps because they chose important but low-paying jobs, say, in education or religion), the government forgives some of the debt.

http://www.theguardian.com/business/2014/jul/09/australia-american-path-to-inequality

 

[dogtowner]

Like so many do, jie states that the us has become deregulated without demonstrating it. Truth is we are massively regulated but all too often for all the wring reasons. We are now slaves to cronie capitalusm. We became a great country via common sense regulation.
Abbot would do well to unshackle business and ride Australua's natural resources to greater things.

 

[Walter]

We are now slaves to cronie capitalusm.

Whats meant with that?

 

[dogtowner]

Whats meant with that?

Polititians have sold their souls to special interests and do little that does not involve enriching their friends.

 

[Aus22]

I agree Tony Abbott is following the American path. He is taken benefits from the poor but preserving them for the rich. The man who holds the Balance of Power is a mining millionaire. His party is dictating policy.

 

[GenSeneca]

I had to laugh when he tried to claim reality had been discredited... At least that's how I read it when he was trying to claim gov debt and spending aren't drags on economic growth, as a rebuff to some claim by some Harvard people I don't know or care about. The author concerned himself with relative comparisons and strictly avoided absolutes. Inequality of outcomes in life was spoken about as though it were a bad thing, and it's government job to minimize the inequality of outcomes.

Michael Jordon and I aren't equals on the court, he'd smoke me 1 on 1...

I really suck at basketball, and no law can magically infuse me with the skill and talent necessary to rise above my natural status and be anywhere close to equaling Jordan... So, what action can the government take to equalize our outcome? They'd have to break both Jordan's legs, and maybe even one of his arms, to make things "even". That's supposed to be civilized...

That's what people like the author are advocating, that the Aus gov be more widely used to break legs and arms of those with skill and ability, so as to equalize the outcomes of all the people with lesser skills and abilities. He says Aus should not follow America's example yet that is exactly what he's proposing to do. America has already broken so many legs and arms of people with skill and ability to equalize outcomes, that our economy must now be propped up with deficit spending to make up the difference. But as I pointed out earlier, the author sees no problem with debts and deficit spending, he feels the Au can operate even farther outside the bounds of reality than it already is, and it won't be a problem.

 

[Aus22]

Australia is different to the USA. It had no recession ,it has low unemployment and its debt is low. Tony Abbott as A conservative wants to lower our small debt. To do this he is copying American Republican methods of cutting benefits to the poor. He wants our universities to charge whatever fee they like as in the USA. Then only the rich can afford them. He wants to stop the poor visiting doctors so much so he has added a fee to our free medicare. He wants the unemployed to not get benefits for six months. These are all Republican policies.

He will not take tax subsidies off wealthy miners, or control the monopoly banks. He wants a benefit for mothers at the rate that they receive while working. Thus benefit the rich. He wants to withdraw protection from bad advise from bankers. He wants to abolish the mining and carbon tax thus allowing miners to pollute without penalty.

 

[GenSeneca]

Australia is different to the USA. It had no recession ,it has low unemployment and its debt is low. Tony Abbott as A conservative wants to lower our small debt. To do this he is copying American Republican methods of cutting benefits to the poor. He wants our universities to charge whatever fee they like as in the USA. Then only the rich can afford them. He wants to stop the poor visiting doctors so much so he has added a fee to our free medicare. He wants the unemployed to not get benefits for six months. These are all Republican policies.

He will not take tax subsidies off wealthy miners, or control the monopoly banks. He wants a benefit for mothers at the rate that they receive while working. Thus benefit the rich. He wants to withdraw protection from bad advise from bankers. He wants to abolish the mining and carbon tax thus allowing miners to pollute without penalty.

Aus, if you were alone on a deserted island... Who would you demand be forced to provide everything necessary for you to survive?

 

[GBFan]

Australia is different to the USA. It had no recession ,it has low unemployment and its debt is low. Tony Abbott as A conservative wants to lower our small debt. To do this he is copying American Republican methods of cutting benefits to the poor. He wants our universities to charge whatever fee they like as in the USA. Then only the rich can afford them. He wants to stop the poor visiting doctors so much so he has added a fee to our free medicare. He wants the unemployed to not get benefits for six months. These are all Republican policies.

He will not take tax subsidies off wealthy miners, or control the monopoly banks. He wants a benefit for mothers at the rate that they receive while working. Thus benefit the rich. He wants to withdraw protection from bad advise from bankers. He wants to abolish the mining and carbon tax thus allowing miners to pollute without penalty.

Reality? Yoo hoo, reality!! Where are you ? Anybody seen reality lately. Apparently, it's missing.

 

[dogtowner]

Australia is different to the USA. It had no recession ,it has low unemployment and its debt is low. Tony Abbott as A conservative wants to lower our small debt. To do this he is copying American Republican methods of cutting benefits to the poor. He wants our universities to charge whatever fee they like as in the USA. Then only the rich can afford them. He wants to stop the poor visiting doctors so much so he has added a fee to our free medicare. He wants the unemployed to not get benefits for six months. These are all Republican policies.

He will not take tax subsidies off wealthy miners, or control the monopoly banks. He wants a benefit for mothers at the rate that they receive while working. Thus benefit the rich. He wants to withdraw protection from bad advise from bankers. He wants to abolish the mining and carbon tax thus allowing miners to pollute without penalty.

So maternal benefits at 100% is bad ? Seems quite generous.
Bad advice "protection" ? Like what ? Makes no sense.
How does a tax change pollution ? If you wish to control it you regulate acceptable levels and FINE offenders.
I gather you presently regulate tuition. I doubt this takes it down to poor folks levels which is why there are scholarships. It should be expensive. It costs a lot to provide and the country only needs so many people with degrees. You want to insure the most likely to benefit get in.

Forget left and right and think common sense.

 

[Aus22]

Most here will be please to know that Abbot has got rid of the Carbon tax. We are the first country to do this A tax on carbon makes fosil fuel power than clean energyThis does not suit the minors. Abbot has an environment policy trying to persuade companies not to pollute, This is call direct action but I do not think persuasion is better thn penalties to make people do the right ting.

Education has been free or cheap in Australia, University fees are regulated. So I was able to ford my first degree without a scholarship, My next two were free because a Labor Government introduced free universities. Now if Abbott gets his ways fees at top universities like the University of Melbourne will be too high for most students, They will become the Harvour and Yale of Australia. The poor will have to go to inferior universities.

 

[GBFan]

Most here will be please [pleased] to know that Abbot has got [gotten] rid of the Carbon tax. We are the first country to do this [.] A tax on carbon makes fosil [fossil] fuel power [I assume, cheaper, but no discussion on what effect the increase in fossil fuel costs has on the economy or the citizenry, thus an incomplete argument] than clean energyThis [energy. This] does not suit the minors [miners]. Abbot has an environment policy trying to persuade companies not to pollute, [.] This is call [called] direct action [,]but I do not think persuasion is better thn [than] penalties to make people do the right ting [thing. - again, a statement of position without support].

Education has been free or cheap in Australia, [.]University fees are regulated. So I was able to ford [afford] my first degree without a scholarship, My next two were free because a Labor Government introduced free universities. Now [,]if Abbott gets his ways [way,] fees at top universities like the University of Melbourne will be too high for most students, [.]They will become the Harvour [Harvard] and Yale of Australia. The poor will have to go to inferior universities.



The quality of your post - given the grammatical and typographical errors - would seem to indicate that you got exactly what you paid for with free education.

Like most liberals, you are thinking with your emotions, rather than your head. You fail to see the real-world impact of actions, whether they be ones you like or ones you don't. You pick the side that makes you feel good, rather than makes good sense. You want a carbon tax, but don't understand the catastrophic cost of such a policy. You want "free" education, not realizing that somebody has to pay for it. Think it through.

 

[dogtowner]

Most here will be please to know that Abbot has got rid of the Carbon tax. We are the first country to do this A tax on carbon makes fosil fuel power than clean energyThis does not suit the minors. Abbot has an environment policy trying to persuade companies not to pollute, This is call direct action but I do not think persuasion is better thn penalties to make people do the right ting.

Education has been free or cheap in Australia, University fees are regulated. So I was able to ford my first degree without a scholarship, My next two were free because a Labor Government introduced free universities. Now if Abbott gets his ways fees at top universities like the University of Melbourne will be too high for most students, They will become the Harvour and Yale of Australia. The poor will have to go to inferior universities.

Abbot prefers the carrot to the stick. Did the stick work ? Doesnt look that way.

Poor kid Barack Obama went to Harvard and Columbia. Both arebtop flight institutions. In addition to looking for opportunities to pad AA numbers these schools also seek out the best and brightestkids so they can remain top flight schools. If you have promise money is nit an obstical.

 

[Aus22]

GBFan, if the ability to write correct E Mails or posts is a sign of higher education than I assume you are highly educated. I wrote my reply quickly without checking but you got the message. I do not get your message.

 

[GBFan]

GBFan, if the ability to write correct E Mails or posts is a sign of higher education than I assume you are highly educated. I wrote my reply quickly without checking but you got the message. I do not get your message.

A sign of being properly educated is the ability to express oneself in an intelligent and coherent manner. Higher education has nothing to do with ... I knew how to put together a coherent sentence by the time I was in the 4th grade.

Frankly, I didn't get your message - I was forced to make assumptions, fill the blanks, and attempt to divine what you were trying to say.

As for my message --- flaunting '4 degrees', as if this gives you automatic credibility and somehow enhanced veracity, frankly, indicates exactly the opposite to me - particularly when combined with guesswork postings. It's been my experience that exactly the opposite is true - the 'highly educated' would be better termed the 'properly indoctrinated', and, generally, seem to be unable to express original thought, but rather, tend to simply 'parrot' what they have been browbeaten with.