Pitchfork Economics with Nick Hanauer

The Road to Freedom (with Joseph Stiglitz)

Jul 16, 2024

Nobel Prize-winning economist Joseph Stiglitz challenges orthodox economic theories in his new book, advocating for progressive capitalism. He critiques neoliberalism, discusses misconceptions about freedom, and highlights the need for policies that prioritize well-being over wealth. Stiglitz emphasizes the importance of addressing climate change and inequality for a more equitable and sustainable future.

48:05

Episode guests

Joseph Stiglitz

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Quick takeaways

Middle out economics offers a solution to combat rising inequality and political instability.

Progressive capitalism advocates for a comprehensive economic approach prioritizing social equity and environmental sustainability.

Deep dives

Middle Out Economics: Rebuilding the Economy from the Middle

Middle out economics emerges as the solution to combat rising inequality and political instability caused by flawed economic theories. Wall Street is not credited with building the country; instead, it is acknowledged that the middle class played a pivotal role. Joseph Stiglitz, a Nobel Prize-winning economist, challenges prevailing neoliberal economics that prioritize unfettered markets and push society towards authoritarian populism.

Rethink Capitalism for Cooperative Success

01:27

Channeling Returns for Social Good

01:12

Freedom Impacts Responsibility

01:24

Revising Economic Myths Requires Effort

00:57

Intro

2min

The Origins of Neoliberalism and Challenging Economic Beliefs

25min

Redefining Capitalism Through Progressive Solutions

9min

Redefining the Impact of Minimum Wage on Employment and Market Dynamics

3min

Redefining Economic Thinking

7min

Contrasting Economics Books and Book Recommendation

2min

Nobel Prize-winning economist Joseph Stiglitz joins Nick and Goldy to talk about his new book, "The Road to Freedom: Economics and the Good Society.” Stiglitz challenges the orthodox economic theories that have shaped our understanding of capitalism and argues for a new approach called progressive capitalism. Stiglitz also discusses the flaws of neoliberalism, popular misconceptions about freedom, and the widespread benefits of addressing issues like climate change and inequality. He shares insights on the need for a broader set of economic policies that prioritize the well-being of all people, not just the wealthy. Their discussion sheds light on the evolving landscape of economic thought and the hope for a more equitable and sustainable future.

Joseph Stiglitz is a Nobel Prize-winning economist and the best-selling author of multiple books on economics. He was also chairman of the Council of Economic Advisers under President Clinton and chief economist of the World Bank. He now teaches at Columbia University and is chief economist of the Roosevelt Institute. His latest book, The Road to Freedom: Economics and the Good Society, delves into the failures of the neoliberal economic model and presents a comprehensive critique of how "free" markets have led to various crises, including financial instability, inequality, and social unrest.

Twitter: @JosephEStiglitz

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Pitchfork Economics with Nick Hanauer

The Road to Freedom (with Joseph Stiglitz)

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Middle Out Economics: Rebuilding the Economy from the Middle

Critique of Neoliberal Economics and Core Theories

Market Inefficiency and Need for Regulation

Progressive Capitalism and Future Economic Directions

Rethink Capitalism for Cooperative Success

Channeling Returns for Social Good

Freedom Impacts Responsibility

Revising Economic Myths Requires Effort

Remember Everything You Learn from Podcasts