Progressive Capitalism | Joseph Stiglitz

How do we return to the golden age of progressive capitalism? Joseph Stiglitz was asked in an interview with Democracy Now: "Should that be worker power or progressive capitalism?" He replied: "The market will have to play an important role. So that's why I want to use the word 'capitalism.'

He added, “But I want to signal that the form of capitalism we have seen over the past 40 years has not worked for most people. And that's why I talk about people. We must have progressive capitalism. We must tame capitalism and redirect capitalism so that it serves our society."

In this video, Joseph Stiglitz will join Steve Paikin in a discussion on how to revive the world economy and Joseph’s insights of what he calls ‘progressive capitalism '.’

And how do we get back to this progressive capitalism? Stiglitz proposes a regulation, breaking 'monopoly,' progressive taxation, ending corruption, and enforcing the rule of law in commerce.

Joseph Stiglitz received the 2001 Nobel Prize in Economics and the John Bates Clark Prize in 1979. He is a former vice president and chief economist of the World Bank and a former member and chairman of the Council of Economic Advisers, as well as an advisor to the leadership of the leftist Labor Party in the UK. He stands on the left in the spectrum of mainstream economics.

He has just published a new book called People, Power, and Profit: Progressive Capitalism for an Age of Discontent, in which he claims that "We can save the broken economic system from itself."

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