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Greenspan... out of hand and cold-bloodedly thwarted [warnings of , , Raghuram Rajan, Nouriel Roubini, Peter Schiff, Robert Shiller, Joseph Stiglitz,… - John Komlos
" "Greenspan... out of hand and cold-bloodedly thwarted [warnings of , , Raghuram Rajan, Nouriel Roubini, Peter Schiff, Robert Shiller, Joseph Stiglitz, Nassim Taleb, John Taylor, and] 's valiant efforts to regulate derivatives a decade before the meltdown.
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About John Komlos
(born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.
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IQ, intelligence quotient is normally distributed. ...The smart can take advantage of those with low IQ. That's not going to be the basis of a good economy and a good democracy if if people take advantage of one another. ...That's especially true of an educational system that is mediocre for a goodly portion of the population.
The US became a dual economy... which generated a lot of despair. Half the population is doing well and the other half is getting by... or getting by in very difficult circumstances... Trump would not have won otherwise in 2016. That's the basis of the Trump revolution... against... the political elite, the foreign policy elite, the intellectual elites.
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Rawls says... let's design an economy... in such a way that you would be willing to enter that society at random. That's a just society... You don't know your position in it. You don't know whether you're smart or dumb. You don't know your skin color. You don't know your gender. You don't know your parents. You don't know anything about yourself. ...[In that case] we wouldn't design a society like it is today. You would make sure that there is an equitable distribution of power.... that the power is not concentrated... that there is countervailing power, that wealth is not concentrated...
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