Joseph Stiglitz's Vision of a New Progressive Capitalism
Capitalisn't20 Juni 2024

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.

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A Firm Grip on the Labor Market

A Firm Grip on the Labor Market

The U.S. economy may be booming, but despite a recent uptick wage growth remains stubbornly flat. Kate & Luigi examine the effect of monopsonies in the labor market among concentrated industries like Big Tech. Are companies colluding against workers and driving down wages?

15 Mars 201829min

O. Contin Pusher, M.D.

O. Contin Pusher, M.D.

Are doctors and pharmaceutical companies to blame for the opioid epidemic? Kate & Luigi look at the role of supply and demand in fueling the distribution of prescription painkillers, and discuss the regulatory ramifications for medical marijuana.

1 Mars 201828min

The Moral Case Against the MBA

The Moral Case Against the MBA

Are elite MBA programs producing morally bankrupt administrators? Duff McDonald, author of “The Golden Passport,” tries to convince Luigi & Kate that conflicts of interest and flawed case studies amount to an unethical education that harms society.

15 Feb 201826min

Capital Isn't in the 21st Century

Capital Isn't in the 21st Century

Five years after Thomas Piketty’s surprise bestseller captured the zeitgeist of an anxious age, Kate and Luigi revisit the book to see how it holds up in the current political and economic climate. The verdict? Intriguing analysis, but limited impact.

1 Feb 201830min

Strange Fedfellows

Strange Fedfellows

It’s been 6 years since a member of the Federal Reserve improperly leaked information to an analyst. Kate & Luigi wonder what's really changed. Is the Fed still too cozy with big banks, the media and others with a financial stake in monetary policy?

18 Jan 201827min

College: What is it Good For?

College: What is it Good For?

As college enrollment goes up, social mobility continues its 50-year decline. Luigi and Kate look for answers in the latest research on the role of higher education. Are today’s universities engines of social mobility or simply bastions of privilege?

4 Jan 201827min

Mutual Understanding: Is Your 401k Working Against You?

Mutual Understanding: Is Your 401k Working Against You?

Luigi shops for an airline ticket and ponders how our retirement investments might be hurting our wallets. New research suggests that giant mutual funds with large stakes in the companies of one industry can lead to reduced competition and higher prices.

4 Jan 201826min

Obama Wanted a Corporate Tax Cut Too

Obama Wanted a Corporate Tax Cut Too

The new U.S. tax reform bill includes a dramatic reduction in the corporate tax rate. Is this a hand-out to the rich or a necessary measure to spur the U.S. economy in the face of global competition? Luigi and Kate debate the pros and cons and break down the law’s impact on pass-through businesses.

4 Jan 201829min

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