Why Going ‘Back To Normal’ Is No Longer An Option
(Sara Robinson, February 7, 2012)
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Former IMF chief economist Joseph Stiglitz has a message for everybody who’s sitting around waiting for the economy to “get back to normal.” . . . Stop waiting. ‘Cause that train’s gone, and it ain’t coming back. And the sooner we accept that “normal,” as post WWII America knew and loved it, will not be an option in this century, the sooner we’ll get ourselves moving forward on the path toward a new kind of prosperity. The only real question now is: What future awaits us on the other side of the coming shift? . . . Stiglitz argues that our current economic woes are the result of a deep structural shift in the economy — a once-in-a-lifetime phase change that happens whenever the foundations of an old economic order are disrupted, and a new basis of wealth creation comes forward to take its place. . » Continue reading “Why Going ‘Back To Normal’ Is No Longer An Option”