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The Mauritius Miracle by Nobel economist Joseph E. Stiglitz

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Ichingcarpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-08-11 10:57 AM
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The Mauritius Miracle by Nobel economist Joseph E. Stiglitz

NEW YORK – Suppose someone were to describe a small country that provided free education through university for all of its citizens, transportation for school children, and free health care – including heart surgery – for all. You might suspect that such a country is either phenomenally rich or on the fast track to fiscal crisis.

After all, rich countries in Europe have increasingly found that they cannot pay for university education, and are asking young people and their families to bear the costs. For its part, the United States has never attempted to give free college for all, and it took a bitter battle just to ensure that America’s poor get access to health care – a guarantee that the Republican Party is now working hard to repeal, claiming that the country cannot afford it.

But Mauritius, a small island nation off the east coast of Africa, is neither particularly rich nor on its way to budgetary ruin. Nonetheless, it has spent the last decades successfully building a diverse economy, a democratic political system, and a strong social safety net. Many countries, not least the US, could learn from its experience.

First, the question is not whether we can afford to provide health care or education for all, or ensure widespread homeownership. If Mauritius can afford these things, America and Europe – which are several orders of magnitude richer – can, too. The question, rather, is how to organize society. Mauritians have chosen a path that leads to higher levels of social cohesion, welfare, and economic growth – and to a lower level of inequality. Second, unlike many other small countries, Mauritius has decided that most military spending is a waste.

SNIP........

http://www.project-syndicate.org/commentary/stiglitz136/English
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-08-11 11:03 AM
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1. Rich people are very expensive, and the truth is they contribute little.
Investing in the rich is a very inefficient use of resources.
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nykym Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-08-11 11:09 AM
Response to Reply #1
2.  Investing in the rich is a very inefficient use of resources.
This would be a great bumper sticker, mind if I use it?
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-08-11 11:13 AM
Response to Reply #2
4. Please do, I place it in the public domain. It belongs to everyone. nt
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Jefferson23 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-08-11 11:10 AM
Response to Original message
3. Bookmarked, and K&R for Stiglitz. I love this guy..brilliant he is. Obama
asked for advice during his campaign about the financial crisis, unfortunately he ignores Stiglitz and moves on to
employ Geithner and Summers..two fucking losers.

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sadbear Donating Member (799 posts) Send PM | Profile | Ignore Tue Mar-08-11 01:59 PM
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5. But, but, but,......that would be socialism!!!!!
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naaman fletcher Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-08-11 04:00 PM
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6. in all fairness..
much of their growth is because of their status as a place where anyone can quickly set up a bank account to hide money.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-08-11 06:24 PM
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7. I Don't Believe in Miracles
I DO believe in cons, however.
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Wolf Frankula Donating Member (118 posts) Send PM | Profile | Ignore Tue Mar-08-11 11:01 PM
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8. Mauritius doesn't have an empire
The USA does. We have a great, useless, resource draining empire. We need to get rid of it.

Wolf
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