Tuesday , November 5 2024
Home / Mike Norman Economics / “We Have Capitalism for the Poor and Socialism for the Rich” – Mark Blyth

“We Have Capitalism for the Poor and Socialism for the Rich” – Mark Blyth

Summary:
Quite a good one from Mark Blyth. He says the US economic system is like a Mustang which has been prioritised for maximum speed but with less spent on safety features. Europe is more like an Audi, he continues, which may be slower, but it has loads of stafety system - crash it, and you will probably survive in one piece.Europe’s automatic stabilisers may be expensive but they can greatly minimise the harmful effects of an economic crash or a natural disaster, like a pandemic. The UK is a train wreck too, he adds. [embedded content]

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Jodi Beggs writes Economists Do It With Models 1970-01-01 00:00:00

Mike Norman writes 24 per cent annual interest on time deposits: St Petersburg Travel Notes, installment three — Gilbert Doctorow

Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten

Merijn T. Knibbe writes ´Fryslan boppe´. An in-depth inspirational analysis of work rewarded with the 2024 Riksbank prize in economic sciences.

Quite a good one from Mark Blyth. He says the US economic system is like a Mustang which has been prioritised for maximum speed but with less spent on safety features. Europe is more like an Audi, he continues, which may be slower, but it has loads of stafety system - crash it, and you will probably survive in one piece.

Europe’s automatic stabilisers may be expensive but they can greatly minimise the harmful effects of an economic crash or a natural disaster, like a pandemic. The UK is a train wreck too, he adds.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *