Comments on: The most embarrassing thing Joe Stiglitz ever wrote? http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/ Academic commentary on law, business, economics and more Mon, 15 Mar 2010 19:12:12 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Maurice J http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-144021 Maurice J Tue, 07 Oct 2008 22:24:06 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-144021 I hate to see people dismissed as a zealot who can't listen to facts and reason. How long have their been business schools, the history of business, lawyers. You would think you folks would have worked out all the kinks to make economics work correctly. I only see people like you who have an ignorance of economics cause you guys, for all your knowledge, can't get it right. A lot of things that are really complex can be started simply. Also, a lot of things (like business and economics) that are extremely complex should be simplified. However, then you would be out of a job and where would we been then? A lot better off I think. I hate to see people dismissed as a zealot who can’t listen to facts and reason.

How long have their been business schools, the history of business, lawyers. You would think you folks would have worked out all the kinks to make economics work correctly. I only see people like you who have an ignorance of economics cause you guys, for all your knowledge, can’t get it right.

A lot of things that are really complex can be started simply. Also, a lot of things (like business and economics) that are extremely complex should be simplified. However, then you would be out of a job and where would we been then? A lot better off I think.

]]> By: Paul http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118803 Paul Wed, 10 Oct 2007 19:32:36 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118803 Alsayko, Many of the economic crises Klein discusses were caused by failed socialist policies. The move to freer markets weren't imposed from above by Milton Friedman, but from below by the very people these policies were hurting. To claim that China moved towards freer markets because of some capitalist conspiracy rather than from it's own people rejecting the government's utterly ruinous economic policies and brutal methods (including political imprisonment, torture, and execution) is completely laughable. There is zero evidence that people living under socialist dictatorships are better off than people living in free societies. Alsayko,

Many of the economic crises Klein discusses were caused by failed socialist policies. The move to freer markets weren’t imposed from above by Milton Friedman, but from below by the very people these policies were hurting.

To claim that China moved towards freer markets because of some capitalist conspiracy rather than from it’s own people rejecting the government’s utterly ruinous economic policies and brutal methods (including political imprisonment, torture, and execution) is completely laughable.

There is zero evidence that people living under socialist dictatorships are better off than people living in free societies.

]]> By: Scott http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118627 Scott Mon, 08 Oct 2007 18:51:57 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118627 "stop calling your political enemies zealots" And if they are zealots? FWIW, there are obviously reasonable people who reasonably differ in the way they see the world. But there are also zealots whose views tend towards the unreasonable. I've seen and read enough of Naomi Klein to know where she falls in that continuum. I've no reason to expect that her latest book would be anything different. And shame on Joe Stiglitz for misstating the beliefs of Dr. Friedman, who is no longer here to correct the record himself. Friedman never believed in the 'perfection' of market economies that I ever read. Most people who haven't bought into the enlightenment philosophy have pretty much resigned themselves to understanding the such a thing as perfection, when talking of human endeavors, has never and will never exist. “stop calling your political enemies zealots”

And if they are zealots? FWIW, there are obviously reasonable people who reasonably differ in the way they see the world. But there are also zealots whose views tend towards the unreasonable.

I’ve seen and read enough of Naomi Klein to know where she falls in that continuum. I’ve no reason to expect that her latest book would be anything different.

And shame on Joe Stiglitz for misstating the beliefs of Dr. Friedman, who is no longer here to correct the record himself. Friedman never believed in the ‘perfection’ of market economies that I ever read.

Most people who haven’t bought into the enlightenment philosophy have pretty much resigned themselves to understanding the such a thing as perfection, when talking of human endeavors, has never and will never exist.

]]> By: James5 – Naomi Klein gets a beating in the academic world http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118602 James5 – Naomi Klein gets a beating in the academic world Mon, 08 Oct 2007 12:17:08 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118602 [...] Zone sets up what seem to be strawmen, Rodrik thinks “bad books need to be trashed”, Manne thinks she’s a naive hack, and The Observer sees some value but ultimately sees her as [...] [...] Zone sets up what seem to be strawmen, Rodrik thinks “bad books need to be trashed”, Manne thinks she’s a naive hack, and The Observer sees some value but ultimately sees her as [...]

]]> By: alsayko http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118586 alsayko Mon, 08 Oct 2007 04:46:40 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118586 For all your posturing on the theoretical aspects of the free market, you utterly fail to engage the issues that Klein brings up and that Stiglitz critiques - the use of free market ideology in violent overthrows and disastrous economic implementations in the third world. I realize your site is by hacks, for hacks, but that doesn't make it any more relevant for the rest of us looking for engaging discussion. Please, stop calling your political enemies zealots, and show me, with data, where they are wrong...or I will be forced to continue to conclude, as I currently do, that you have no agenda but your political one. For all your posturing on the theoretical aspects of the free market, you utterly fail to engage the issues that Klein brings up and that Stiglitz critiques – the use of free market ideology in violent overthrows and disastrous economic implementations in the third world. I realize your site is by hacks, for hacks, but that doesn’t make it any more relevant for the rest of us looking for engaging discussion. Please, stop calling your political enemies zealots, and show me, with data, where they are wrong…or I will be forced to continue to conclude, as I currently do, that you have no agenda but your political one.

]]> By: Nasikabatrachus http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118295 Nasikabatrachus Wed, 03 Oct 2007 22:06:04 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118295 SaulOhio: This paper very probably goes into Friedman's views on perfect competition: http://www.mises.org/pdf/asc/2004/long.pdf I haven't read it yet, so forgive me if it doesn't but it seems relevant to your question. SaulOhio:

This paper very probably goes into Friedman’s views on perfect competition:

http://www.mises.org/pdf/asc/2004/long.pdf

I haven’t read it yet, so forgive me if it doesn’t but it seems relevant to your question.

]]> By: SaulOhio http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118292 SaulOhio Wed, 03 Oct 2007 21:41:01 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118292 To my knowledge, no free market thinker has ever claimed that perfect knowledge or "pure and perfect competition" are neccessary in a free market. In fact, those I know of have refuted the "pure and perfect competition" idea. I haven't read much Friedman, but I would guess he repudiated the idea, too. Anyone know if he did? To my knowledge, no free market thinker has ever claimed that perfect knowledge or “pure and perfect competition” are neccessary in a free market. In fact, those I know of have refuted the “pure and perfect competition” idea. I haven’t read much Friedman, but I would guess he repudiated the idea, too. Anyone know if he did?

]]> By: Nasikabatrachus http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118290 Nasikabatrachus Wed, 03 Oct 2007 21:38:10 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118290 Maybe Stiglitz didn't really write the review. Maybe he was kidnapped and impersonated so they would take away his Nobel for severe economic incompetence. Maybe I'm being too optimistic about the world. Maybe Stiglitz didn’t really write the review.

Maybe he was kidnapped and impersonated so they would take away his Nobel for severe economic incompetence.

Maybe I’m being too optimistic about the world.

]]> By: Russ Nelson http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118268 Russ Nelson Wed, 03 Oct 2007 13:54:02 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118268 But he *did* read the review. Does the Nobel Committee ever retract prizes? But he *did* read the review. Does the Nobel Committee ever retract prizes?

]]> By: david http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118162 david Mon, 01 Oct 2007 21:27:54 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118162 "I’m sure the book is an abomination, too, but I’m referring to the book review." So you didnt read the book? Ok, then youre thoughts about this is very interesting... “I’m sure the book is an abomination, too, but I’m referring to the book review.”

So you didnt read the book?

Ok, then youre thoughts about this is very interesting…

]]> By: M. Hodak http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/comment-page-1/#comment-118092 M. Hodak Mon, 01 Oct 2007 02:21:51 +0000 http://www.truthonthemarket.com/2007/09/30/the-most-embarrassing-thing-joe-stiglitz-ever-wrote/#comment-118092 And that is why I canceled my subscription to the NY Times. And that is why I canceled my subscription to the NY Times.

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