Episode description

The economist Joseph Stiglitz has devoted his life to exposing the limits of markets. He tells Steve about winning an argument with fellow Nobel laureate Milton Friedman, why small governments don’t lead to more freedom, and why he’s not afraid to be an advocate.

• SOURCE:
  • Joseph Stiglitz, professor at Columbia University and chief economist at the Roosevelt Institute.

• RESOURCES:
  • The Road to Freedom: Economics and the Good Society, by Joseph Stiglitz (2024).
  • "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information," by Michael Rothschild and Joseph Stiglitz (The Quarterly Journal of Economics, 2010).
  • "Hirsh: The Missing Link on Obama's Economic Team," by Michael Hirsh (Newsweek, 2008).
  • Globalization and Its Discontents, by Joseph Stiglitz (2002).
  • Two Lucky People: Memoirs, by Milton Friedman and Rose Friedman (1998).
  • "On Value Maximization and Alternative Objectives of the Firm," by Sanford Grossman and Joseph Stiglitz (The Journal of Finance, 1977).

• EXTRAS:
  • "Remembering Daniel Kahneman," by People I (Mostly) Admire (2024).
  • "Ninety-Eight Years of Economic Wisdom," by People I (Mostly) Admire (2023).