Joseph Stiglitz, Nobel Prize in Economics gave a public lecture in Marseille on Friday October 11th . The lecture was about "Progressive Capitalism ". >>>> Listen the lecture, in full : "Progressive Capitalism" - only in French <<< On that occasion he presented his new book: People, Power, and Profits. "A damning diagnosis of the extent to which big business is dominating the American economy and determining american power. Proposes that the real avenues for wealth creation and prosperity are learning and technology, worked against by the business agenda. Joseph Stiglitz is professor at Columbia University, former Chief Economist for the World Bank in the 1990s, he has published widely including The price of inequality. © Reda Settar
We all have the sense that the American economy-and its government-tilts toward big business, but as Joseph E. Stiglitz explains in his powerful new book, People, Power, and Profits, the situation is dire. A few corporations have come to dominate entire sectors of the economy, contributing to skyrocketing inequality and slow growth. This is how the financial industry has managed to write its own regulations, tech companies have accumulated reams of personal data with little oversight, and our government has negotiated trade deals that fail to represent the best interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. If something isn't done, new technologies may make matters worse, increasing inequality and unemployment. Stiglitz identifies the true sources of wealth and of increases in standards of living, based on learning, advances in science and technology, and the rule of law. He shows that the assault on the judiciary, universities, and the media undermine the very institutions that have long been the foundation of the US economic might and its democracy. Helpless though we may feel today, citizens are far from powerless. In fact, the economic solutions are often quite clear. We need to exploit the benefits of markets while taming their excesses, making sure that markets work for us-the U.S. citizens-and not the other way around. If we rally behind the agenda for change outlined in this book, it may not be too late to create a progressive capitalism that will recreate a shared prosperity. Stiglitz shows how a middle-class life can once again be attainable by all. An authoritative account of the predictable dangers of free market fundamentalism and the foundations of progressive capitalism, People, Power, and Profits shows us a country in crisis, but also lights a path through this challenging time."
