The limits of the market (with Joseph Stiglitz)

Pitchfork Economics with Nick Hanauer · Aug 30, 2022 · 41m

One of the central theories of classical economics is that markets respond quickly and efficiently to changes in demand. But the supply chain disruptions that left store shelves empty for much of the pandemic demonstrate that the markets aren’t the efficient adapters that classic economists believe them to be. Nobel laureate economist Joseph Stiglitz explains why the tendency to believe in the market is one of the most deeply rooted trickle-down myths, and why government intervention is the best way to respond to economic downturns.

This episode was originally released in May 2020.

Joseph…