In one short interview, Stiglitz comes out in favor of industrial planning by government and the taking of land by government. Don't expect Stiglitz on Ron Paul's short-list to head the President's council of economic advisers.
From India's Economic Times:
KOLKATA: Nobel laureate in economics Joseph Stiglitz today said that State should have a role to play in acquiring large pieces of land for setting up industry.
"For those who want to acquire large tracts of land from fragmented ownership holdings, it is really a problem and land purchase becomes difficult," Stiglitz said on the sidelines of a seminar at the Indian Statistical Institute (ISI) here.
The noted economist said this when pointed out that the present West Bengal government's declared stand was that it would not acquire land for setting up industry.
He said that land acquisition was really a sensitive issue across the world.
Citing the instance of Columbia University in the US, where he is a professor, Stiglitz said that a huge amount of land was needed for expansion of the 'varsity.
He said that the university was unable to acquire land on its own and the expansion process was halted. Ultimately, the local city government intervened arguing that it was in the interest of the people that the university expanded.
"Only then that the land acquisition process became a success," he said.
I heard him on NPR a while back and immediately tagged him as a commie.
ReplyDeleteEh?
ReplyDelete"For those who want to acquire large tracts of land from fragmented ownership holdings, it is really a problem and land purchase becomes difficult,"
Yes, we try to overcome that with "money". Property development is my business. There are many ways of doing a deal. If the numbers stack up you can usually come to an arrangement. If not, then you move on. Such are the forces which move capital, or not, in an economy. You really need the authoritarian gene to think government has any role to play.
"He said that the university was unable to acquire land on its own and the expansion process was halted. Ultimately, the local city government intervened arguing that it was in the interest of the people that the university expanded.
ReplyDelete'Only then that the land acquisition process became a success,' he said."
Translation:
Columbia didn't want to pay the market price for the property so they bribed the City of New York to force the seller to capitulate.
To see the horrors of communism I recommend "The Black Book of Communism - Crimes, Terror, Repression" which can be found on Amazon.
ReplyDeleteThe real Romney
ReplyDeleteRomney's true colors
http://www.youtube.com/watch?v=70cgPOptnJM&feature=related
This is the guy that was completely owned by hedge fund manager Hugh Hendry on Greece in 2010. This knuckle head who was advising Greece at the time and taking their last Euros saw absolutely no problem with Greece's debt level and couldn't see any hint of crisis arising in Europe. One can only surmise that he's fairly clueless as to how markets and economies really work. Like Krugman, who also has a horrific record of accurate forecasting economic outcomes, that won't stop him from offering advice to anyone who will listen. Stiglitz is nothing more then an apologist for the Oligarchs by providing them with fallacious economic arguments to support their central planning objectives. In Stiglitz's world when economic policy fails to produce its intended results the solution always the use of force and violence.
ReplyDeleteA 10 cent bullet!...That's it!...One 10 cent bullet!
ReplyDeleteWhat the hell is wrong with those stupid sheeple?
Establishment Pundit Left Speechless by Ron Paul Smackdown
ReplyDeletehttp://www.youtube.com/watch?v=15mBXCMvAuA&feature=player_embedded
@ANONYMOUS 1/1/12 3:38
ReplyDeleteNot 10 cents anymore. Just the bullet these days can run 25 cents to 65 cents and up depending on the type. And that doesn't include the powder, case, and primer. Even lead bullets will run you more than 10 cents ea. if you buy at quantities of 1000 again sans case powder and primer. Did you think the dollar still had any value?