Janszen On NPR "Talk of The Nation" - Oct. 20th, 2008

[BDAdmin]

Economists Explain 'How To Save Capitalism'

Talk of the Nation, October 20, 2008 · The credit crisis and the mortgage meltdown have led many people to question the fundamentals of the economy; some argue that capitalism is to blame. In the November issue of Harper's Magazine, economic experts weigh in on capitalism — and whether the system needs fixing.

Joseph Stiglitz, winner of the 2001 Nobel prize in economics, argues that it is time to "Realign The Interests of Wall Street."

Eric Janszen, entrepreneur and former venture capitalist, says the United States must "Reindustrialize." - Listen Now

[Chris Coles]

Re: Janszen On NPR "Talk of The Nation" - Oct. 20th, 2008

If there is one thing to come from this NPR debate, it is that no one has a clear definition for what everyone calls Capitalism. But the most important thing to remember is the clear need not to let the debate drop. If we step back now, everything will return to the status quo.
So the real responsibility facing the iTulip community is to bring forward everyones thinking. No one has all the answers, but we do have the platform, thanks to EJ.

My input is a comment that The Times, London, believed worthwhile putting up on their web site a few days ago. (You submit a comment and they decide if it is valid and make the final decision whether or not to put it up).

"Capitalism is the investment of savings as equity capital into new business as free money paid for by the long term creation of dividends from the success of the business and the new earnings of their employees. Loans, CDO's, retail banking, variable rate mortgages have nothing to do with capitalism"

Debate?

[Andreuccio]

Re: Janszen On NPR "Talk of The Nation" - Oct. 20th, 2008

Economists Explain 'How To Save Capitalism'

Talk of the Nation, October 20, 2008 · The credit crisis and the mortgage meltdown have led many people to question the fundamentals of the economy; some argue that capitalism is to blame. In the November issue of Harper's Magazine, economic experts weigh in on capitalism — and whether the system needs fixing.

Joseph Stiglitz, winner of the 2001 Nobel prize in economics, argues that it is time to "Realign The Interests of Wall Street."

Eric Janszen, a former venture capitalist, says the United States must "Reindustrialize." - Listen Now

I heard the interview on NPR. I found myself wishing the Nobel laureate guy would shut up so I could hear what EJ had to say.

I was going to call in a question, but I had my two little ones with me in the car, and didn't want to be shushing them live on National Public Radio if I got lucky enough to get through.

My question, EJ, would have been in reference to your call for a re-industrialization of the economy. I wanted to ask if you could outline what you thought was the basic path to get there. You did discuss how we got where we are now in part by the tax and other benefits given to the FIRE economy, so I assume rolling those back would be a start. But what other steps do we need to take, and through what kind of turmoil do we need to go, to get from here to there.

I realize this is probably exactly what's covered in your book, but had I called I thought it would be a good chance for a plug. In any case, if it's not giving too much away, I'd like to hear the basics. I promise I'll buy the book anyway.

[due_indigence]

Re: Janszen On NPR "Talk of The Nation" - Oct. 20th, 2008

Well I have to agree, though it's probably my fault, but I usually find Stiglitz rather platitudinous.