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IdeasBy Joseph E. StiglitzJuly 9, 2015 5:22 AM EDTJoseph E. Stiglitz @JosephEStiglitz is a University Professor at Columbia University, the 2001 recipient of the Nobel Memorial Prize in Economics, a former chairman of the Council of Economic Advisers, and a former chief economist of the World Bank. His latest book, People, Power, and Profits: Progressive Capitalism for an Age of Discontent, will be released in paperback on April 21.As the Greek saga continues, many have marveled at Germanyrsquo chutzpah. It received, in real terms, one of the largest bailout and debt reduction in history and unconditional aid from the U.S. in the Marshall Plan. And yet it refuses even to discuss debt relief. Many, too, have marveled at how Germany has done so well in the propaganda game, selling an image of a long-failed state that refuses to go along with the minimal conditions demanded in return for generous aid.The facts prove otherwise: From the mid-90rsquo to the beginning of the crisis, the Greek economy was growing at a faster rate than the EU average 3.9% vs 2.4% . The Greeks took austerity to heart, slashing expenditures and increasing taxes. They even achiev stanley cup ed a primary surplus that is, tax revenues exceeded expenditures excluding interest payments , and stanley cup their fiscal position would have been truly impressive had they not gone into depression. Their depressionmdash;25% decline in GDP and 25% unemployment, with youth unemployment twice thatmdash;is because the stanley cup y did what Bgba 5 Ways to Fix America Today
By Matt VellaJune 5, 2014 3:28 PM EDTDesigner Alexander Griffioen has created a weapon of mass delusion. His site, dubbed ShrtURL, lets users input any web address on the Internet and renders a version that can be customized with their own text and images. Thing is, the design, fonts and general style of the page remain identical. The site is making headline crocs s because it was used to create this fake TechCrunch post claiming venture firm Andreesseen Horowitz is buying Y Combinator for $266 billion. The pages created at Shrturl last for 48 hours before expiring.The site has already been use adidas campus d for evil, as the screenshots below show. Use at your own peril.Nope, not true.Ew.Not even close.iMacs aren t on sale.More Must-Reads from TIMEHow the Economy is Doing in the Swing Stat adidas originals esHarris Battles For the Bro VoteOur Guide to Voting in the 2024 ElectionMel Robbins Will Make You Do ItWhy Vinegar Is So Good for YouYou Dont Have to Dread the End of Daylight SavingThe 20 Best Halloween TV Episodes of All TimeMeet TIMEs Newest Class of Next Generation LeadersContact us at letters@time
IdeasBy Joseph E. StiglitzJuly 9, 2015 5:22 AM EDTJoseph E. Stiglitz @JosephEStiglitz is a University Professor at Columbia University, the 2001 recipient of the Nobel Memorial Prize in Economics, a former chairman of the Council of Economic Advisers, and a former chief economist of the World Bank. His latest book, People, Power, and Profits: Progressive Capitalism for an Age of Discontent, will be released in paperback on April 21.As the Greek saga continues, many have marveled at Germanyrsquo chutzpah. It received, in real terms, one of the largest bailout and debt reduction in history and unconditional aid from the U.S. in the Marshall Plan. And yet it refuses even to discuss debt relief. Many, too, have marveled at how Germany has done so well in the propaganda game, selling an image of a long-failed state that refuses to go along with the minimal conditions demanded in return for generous aid.The facts prove otherwise: From the mid-90rsquo to the beginning of the crisis, the Greek economy was growing at a faster rate than the EU average 3.9% vs 2.4% . The Greeks took austerity to heart, slashing expenditures and increasing taxes. They even achiev stanley cup ed a primary surplus that is, tax revenues exceeded expenditures excluding interest payments , and stanley cup their fiscal position would have been truly impressive had they not gone into depression. Their depressionmdash;25% decline in GDP and 25% unemployment, with youth unemployment twice thatmdash;is because the stanley cup y did what Bgba 5 Ways to Fix America Today
By Matt VellaJune 5, 2014 3:28 PM EDTDesigner Alexander Griffioen has created a weapon of mass delusion. His site, dubbed ShrtURL, lets users input any web address on the Internet and renders a version that can be customized with their own text and images. Thing is, the design, fonts and general style of the page remain identical. The site is making headline crocs s because it was used to create this fake TechCrunch post claiming venture firm Andreesseen Horowitz is buying Y Combinator for $266 billion. The pages created at Shrturl last for 48 hours before expiring.The site has already been use adidas campus d for evil, as the screenshots below show. Use at your own peril.Nope, not true.Ew.Not even close.iMacs aren t on sale.More Must-Reads from TIMEHow the Economy is Doing in the Swing Stat adidas originals esHarris Battles For the Bro VoteOur Guide to Voting in the 2024 ElectionMel Robbins Will Make You Do ItWhy Vinegar Is So Good for YouYou Dont Have to Dread the End of Daylight SavingThe 20 Best Halloween TV Episodes of All TimeMeet TIMEs Newest Class of Next Generation LeadersContact us at letters@time