Nobel-winning economist Joe Stiglitz calls neoliberalism "a failed ideology" and sketches out a "progressive capitalism" to replace it

Nobel-winning economist Joe Stiglitz calls neoliberalism "a failed ideology" and sketches out a "progressive capitalism" to replace it

I like it. "Now, in a new editorial for Common Dreams, Stiglitz calls neoliberalism "an ideology that has clearly failed" and goes on to try to rescue capitalism from neoliberalism, calling for support for "progressive capitalism...which prescribes a radically different economic agenda," Stiglitz's progressive capitalism calls for a stronger role for the state in subjecting markets to democratic oversight; an emphasis on science-led, evidence-based policies that favor benefits for the many over enriching the few; breaking up monopolies; and shielding politics from financial corruption. It's a platform very similar to Elizabeth Warren's 2020 election playbook, and can be seen as an attempt to establish a new centrism that's far to the left of the likes of Tony Blair and Bill Clinton, sitting between their positions and the positions of Sanders, AOC, and other socialists who are skeptical of markets entirely."