Joe Stiglitz: Why the world economy's malaise continues

[ish mailian]

Sorry about that; I thought it was a free article. It's an excellent
article. And yes, it is focused on China, but the overproduction is not
just a China story.

The super capacity that was built to meet the expected super demand of the
developing and emerging growth economies, in China and elsewhere, is the
story, a supply story.

On Thu, Jan 14, 2016 at 4:07 PM, David Morris <fqmorris at gmail.com> wrote:

> This article is behind a paywall, but if the first two sentences portend
> its content, then it seems to be saying that a glut of Chinese goods is
> slowing growth.  More demand would be the solution to this problem.  Lack
> of demand is its cause.
>
> David Morris
>
> On Thu, Jan 14, 2016 at 2:56 PM, ish mailian <ishmailian at gmail.com> wrote:
>
>> Because it's true.
>>
>>
>> http://www.wsj.com/articles/glut-of-chinese-goods-pinches-global-economy-1433212681
>>
>> On Thu, Jan 14, 2016 at 3:49 PM, Robert Mahnke <rpmahnke at gmail.com>
>> wrote:
>>
>>> Why do you say that?
>>>
>>> On Thu, Jan 14, 2016 at 12:37 PM, ish mailian <ishmailian at gmail.com>
>>> wrote:
>>>
>>>> The world is not not suffering from too little demand but with too much
>>>> supply and with too much capacity.
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> On Thu, Jan 14, 2016 at 3:00 PM, David Morris <fqmorris at gmail.com>
>>>> wrote:
>>>>
>>>>> The economics of this inertia is easy to understand, and there are
>>>>> readily available remedies. The world faces a deficiency of aggregate
>>>>> demand, brought on by a combination of growing inequality and a mindless
>>>>> wave of fiscal austerity. Those at the top spend far less than those at the
>>>>> bottom, so that as money moves up, demand goes down. And countries like
>>>>> Germany that consistently maintain external surpluses are contributing
>>>>> significantly to the key problem of insufficient global demand.
>>>>>
>>>>> At the same time, the U.S. suffers from a milder form of the fiscal
>>>>> austerity prevailing in Europe. Indeed, some 500,000
>>>>> <http://thinkprogress.org/yglesias/2011/07/08/263588/the-conservative-recovery-continues-2/> fewer
>>>>> people are employed by the public sector in the U.S. than before the
>>>>> crisis. With normal expansion in government employment since 2008, there
>>>>> would have been two million more.
>>>>>
>>>>> On Thu, Jan 14, 2016 at 1:39 PM, Robert Mahnke <rpmahnke at gmail.com>
>>>>> wrote:
>>>>>
>>>>>>
>>>>>>
>>>>>> http://www.huffingtonpost.com/joseph-e-stiglitz/world-economy-2016_b_8908560.html?utm_hp_ref=world
>>>>>>
>>>>>>
>>>>>>
>>>>>
>>>>>
>>>>
>>>
>>
>
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