Joseph Stiglitz's Vision of a New Progressive Capitalism

In the last 60 years, few economists have contributed more to exposing the failures of capitalism than Joseph Stiglitz. Formerly the chief economist of the World Bank and chair of the U.S. Council of Economic Advisers under President Bill Clinton, Stiglitz won the Nobel Prize in Economics in 2001 for his work showing that the possibility of having different information can lead to inefficient market outcomes.
On this episode of Capitalisn't, Stiglitz joins Bethany and Luigi to discuss his latest book, "The Road to Freedom: Economics and the Good Society" (W.W. Norton, 2024). The book, as Bethany describes it, is a "full frontal attack on neoliberalism" that provides a prospective roadmap towards a more progressive form of capitalism. Together, the three discuss the role of mis- and disinformation in producing market inefficiencies, the importance of regulation, institutional accountability, and collective action in correcting market failures, and the role of neoliberalism in today's global populist uprising. In the process, they underscore the close link between economic and political freedom.

[@adamhustler3639]

@25:00-26:00 .. did my poli Sci ma on the revolving door and conflicts of interest laws. It's atrocious what goes on with that kind of corruption.

[@intellectually_lazy]

who are "most" citizens? what is our society? and who and what are not these things?

[@ywtcc]

We're having problems at our workplace. There's a person hanging the around the office (when they bother to show up) collecting obscenely large paychecks, and doing nothing of value to society. I asked an economist about this problem, and was told they're the most productive person in the firm. LOL! The economists' doublespeak is comical when it's not being used to sabotage a society.

[@psikeyhackr6914]

I asked a PhD economists to explain how an automobile engine worked. He couldn't even start, but he drove a white SUV. What do economists say about planned obsolescence and the depreciation of durable consumer goods? What is Net Domestic Product, NDP? Karl Marx used the word 'depreciation' 35 times in the first two volumes of his major work. Where is the data on the annual depreciation of automobiles since Sputnik?

[@intellectually_lazy]

why would you expect an economist know that?

[@psikeyhackr6914]

@@intellectually_lazy I knew that before I graduated from grammar school. How many billions of dollars are spent buying new cars every year? How much is spent repairing cars every year? Watch television for 2 hours. Count the number of commercials related to cars. Do cars have something to do with economics? Try finding an economist talking about the Depreciation of automobiles.

[@ywtcc]

House prices are sky high, as are education and healthcare costs. My economist says it's not inflation, so don't worry about it. (Great depression here we come! Well done with the salesmanship! LOL!)

[@intellectually_lazy]

progressive capitalism? idk, the capitalism keeps putting the kaibash on the progressive

[@tuckerbugeater]

one mans progress is another mans authoritarianism