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Nobel winning economist Joseph Stiglitz on Trump, tariffs and democracy

Mar 18, 2025
Joseph Stiglitz, a Nobel Prize-winning economist and former advisor to Presidents Clinton and Obama, dives into the critical impact of Trump's tariffs and trade policies. He critiques the detrimental effects of these tariffs on consumers and economic stability, while drawing alarming historical parallels to past threats against democracy. Stiglitz also discusses the recent erosion of academic freedoms and the troubling echoes of McCarthyism, alongside concerns over the influence of billionaires on democracy, advocating for a united front to protect democratic values.
32:15

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Podcast summary created with Snipd AI

Quick takeaways

  • Joseph Stiglitz critiques Trump's tariff policies, arguing they misunderstand economics and could harm American workers due to price inflation and retaliation.
  • The podcast emphasizes the alarming concentration of wealth and power among billionaires, undermining democracy and necessitating citizen-led movements for protection.

Deep dives

Impact of Trump's Trade Policies

Trump's trade policies, particularly his approach to tariffs, are critiqued for misunderstanding basic economic principles. Tariffs are seen as a misguided attempt to address trade deficits, which are fundamentally tied to domestic savings and investment rather than foreign exploitation. This stance risks inflating consumer prices and undermining economic stability, especially as it comes after a period of inflation. Furthermore, proposed tariffs could trigger retaliation from other countries, ultimately harming American workers by lowering living standards.

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