Populism and demagoguery

Donald Steiny 2016 Elections, Economics, Politics 3 Comments

One of the characteristics of the current election cycle is the rise of populism.  In modern political science,  here is the definition. “[Populism] pits a virtuous and homogeneous people against a set of elites and dangerous ‘others’ who are together depicted as depriving (or attempting to deprive) the sovereign people of their rights, values, prosperity, identity, and voice” ((Albertazzi, Daniele; …

Re: The Macroeconomic Effects of Eliminating Automatic Reductions to Discretionary Spending Caps

Donald Steiny Economics, Politics 0 Comments

This is a copy of a letter the CBO sent to the Senate explaining why lifting the Republican’s (insane) sequestration would boost the economy and help lower the deficit and debt of the country. In other words, they agree with the vast majority of economists, that the simple minded attempts to lower the deficit and debt have increased it, or …

Money matters : Nature News & Comment

Donald Steiny Economics, Social Networks, Sociology 5 Comments

This editorial from Nature suggests that displays of wealth lead to more unhappiness with wealth inequality. I like to connect this to Weber’s The Protestant Ethic and The Spirit of Capitalism where he points out that is some Protestant sects wealth is a sign of grace. I noticed that when I lived in Finland things seemed more even and here in …

Richest 1% will own more than all the rest by 2016 | Oxfam International

Donald Steiny Economics 0 Comments

I can’t help but wonder if this is sustainable. I doubt it and so I wonder how soon we will reach a breaking point.  Extreme inequality isn’t just a moral wrong. We know that it hampers economic growth and it threatens the private sector’s bottom line. Winnie Byanyima Executive Director, Oxfam International The combined wealth of the richest 1 percent …