[lbo-talk] Long Stiglitz talk

[Chuck Grimes]

It's almost two hours long, but it is very comprehensive. The last forty
or so minutes concentrates on what to do. The questions are good too.
It's a professional audience of grad students, economists, and a few
bankers.

http://www.youtube.com/watch?v=SOxCMc9-1Cc&feature=related

The basic point is that the current crisis is only part due to the financial
sector. The main crisis under money distribution, is the shift from
manufacture to service  So if the service sectors are supported with
government investment particular in green energy, building differently,
etc. that will pull us out. Conversely, if `we' just regulate without the
second part (which  translates to retrain for different jobs), we won't
get much.

Most of the talk concentrates on the failure of economic models and
why they fail.

CG