Look forward to reading this. Thank you Patrick. From quick reads of Stiglitz's articles, it seems that his key critical concept is "rent-seeking". I have been struck by the failure to define the concept rigorously and to prove its pervasiveness empirically.
As opposed to rent-seeking, I remain interested in Hilferding's concept of promoters' profit. I think it can be shown rigorously and empirically that, given investors need for yield lift as a consequence of the low interest rates resulting from the flood of Chinese money and loose Fed policy, Wall Street made substantial promoters' profits by inflating through fraud and the complicity of the ratings agencies the capitalized value of bundled mortgages. If anyone is following me that he could emend, correct or challenge this point, I would appreciate it. LR
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