Comments by "" (@tekannon7803) on "Stiglitz Says Raising Interest Rates Won't Fix Inflation Problem" video.

  1. As an overseas viewer, at 6:51 in the vocast, Professor Stiglitz says that raising interest rates will not bring down inflation. But the Fed is going to do exactly that. This is why economics has the average person in constant turmoil: no one seems to know how to get us out of the fix we're in. Lastly, Professor Stiglitz also says democracy is at risk of collapsing and that the elites and the middle classes will continue to be on opposite sides of the room. I am an artist and not an economist, but what I think no one is taking into account is that our economic system has permanently run out of steam. Capitalism as we know it---according to some sources---says it began in 1694 when The Bank of England issued the first bonds. Does anyone see my point? This means we have been using an economic model suited for 17th century values and over 3 centuries old. It's out-dated and just look around you: everything is out of kilter. The world has moved on. We need an economic system that deals with the blatant and complex and 21st century problems we are facing today---like inequality and recessions and depressions and run-away inflation. These are red flags. I know this will sound like I'm trying to sell a book, but I have invented a system that I would like to compare with the Linux operating system. My book is called The Treatise of Teknomix and it will be published very soon. In it is a very basic idea for an economic model and it needs brilliant minds like Professor Stiglitz to have a look at it and see if there is the grain of a new concept for a new economic system in it. My idea has 90% of the population doing well; the opposite of capitalism. But I'm not an economist and I may not have a good idea.
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