Joseph Stiglitz, Nobel Prize-winning economist, criticizes the role played by the State today in his new book, ‘Rethinking the Meaning of Freedom’. Along those lines, he argues that deregulation and lack of protection harm Americans and undermine meaningful democracy.
The Nobel Prize winner affirms that capitalism has caused massive inequalities, as well as the rise of a populism that could be considered dangerous. In that sense, he is committed to joint work and government regulations that guarantee individual freedom and, with it, social progress.
“We need to ensure that we have the greatest freedom for the most people. We achieve that not by eliminating regulations or lowering taxes, but by working together”he commented in an interview with Paula Newton for CNN.
Faced with this, the renowned economist analyzes the need to recover economic and political freedom by understanding the economic agenda and balancing the role of markets and the government. On the one hand, he highlights the importance of a civil society with a free press and independent academic institutions, but he also recognizes the need for government regulation. Likewise, he mentions that investments in areas such as education, health and technology encourage young people to participate actively in politics.
Source: Larepublica
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