{"id":1749,"date":"2011-07-06T17:05:26","date_gmt":"2011-07-06T15:05:26","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=1749"},"modified":"2011-07-06T17:05:26","modified_gmt":"2011-07-06T15:05:26","slug":"the-ideological-crisis-of-western-capitalism","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/the-ideological-crisis-of-western-capitalism\/","title":{"rendered":"The Ideological Crisis of Western Capitalism"},"content":{"rendered":"<p><a dir=\"ltr\" lang=\"en\" xml:lang=\"en\" rel=\"author\" href=\"http:\/\/www.project-syndicate.org\/contributor\/184\" target=\"_blank\">Stiglitz, Joseph<\/a>.<\/p>\n<p>Just a few years ago, a powerful ideology \u2013 the belief in free and unfettered markets \u2013 brought the world to the brink of ruin. Even in its hey-day, from the early 1980\u2019s until 2007, American-style deregulated capitalism brought greater material well-being only to the very richest in the richest country of the world. Indeed, over the course of this ideology\u2019s 30-year ascendance, most Americans saw their incomes decline or stagnate year after year.<\/p>\n<p>Moreover, output growth in the United States was not economically sustainable. With so much of US national income going to so few, growth could continue only through consumption financed by a mounting pile of debt.<\/p>\n<p>I was among those who hoped that, somehow, the financial crisis would teach Americans (and others) a lesson about the need for greater equality, stronger regulation, and a better balance between the market and government. Alas, that has not been the case. On the contrary, a resurgence of right-wing economics, driven, as always, by ideology and special interests, once again threatens the global economy \u2013 or at least the economies of Europe and America, where these ideas continue to flourish.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Project Syndicate<\/p>\n<p><a href=\"http:\/\/www.project-syndicate.org\/commentary\/stiglitz140\/English\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stiglitz, Joseph. Just a few years ago, a powerful ideology \u2013 the belief in free and unfettered markets \u2013 brought the world to the brink of ruin. Even in its hey-day, from the early 1980\u2019s until 2007, American-style deregulated capitalism brought greater material well-being only to the very richest in the richest country of the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,39],"tags":[25,24],"class_list":["post-1749","post","type-post","status-publish","format-standard","hentry","category-18","category-39","tag-25","tag-24"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=1749"}],"version-history":[{"count":1,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1749\/revisions"}],"predecessor-version":[{"id":1750,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1749\/revisions\/1750"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=1749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=1749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=1749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}