It’s a Fetish 0
That is, an unwholesome fixation on one thing, like ladies’ shoes.
Joseph Stiglitz on “deficit cut fetishism”:
Read the whole thing, particularly the paragraph towards the end in which he points out
America’s financial industry polluted the world with toxic mortgages, and, in line with the well established “polluter pays” principle, taxes should be imposed on it.
America’s financial industry has shown that it subtracts, rather than adding value and that incompetence is not its own reward; rather, incompetence deserves ginormous bonuses. And country club memberships.
Its advice should be discounted.
