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Argues that the Obama administration has used the economic crises to move away from free enterprise and offers a way back via sound public policy.
From one of the world’s leading economists, a compelling new vision of personal and economic freedom. We are a nation born from the conviction that people must be free. But since the middle of the last century, that idea has been co-opted. Forces on the political Right have justified exploitation by cloaking it in the rhetoric of freedom, leading to pharmaceutical companies freely overcharging for medication, a Big Tech free from oversight, politicians free to incite rebellion, corporations free to pollute, and more. How did we get here? Whose freedom are we—and should we—be thinking about? In The Road to Freedom, Nobel prize winner Joseph E. Stiglitz dissects America’s current economic system and the political ideology that created it, laying bare their twinned failure. “Free” and unfettered markets have only succeeded in delivering a series of crises: the financial crisis, the opioid crisis, and the crisis of inequality. While a small portion of the population has amassed considerable wealth, wages for most people have stagnated. Free and unfettered markets have exploited consumers, workers, and the environment alike. Such failures have fed populist movements that believe being free means abandoning any obligations citizens have to one another. As they grow in strength, these movements now pose a real threat to true economic and political freedom. As an economic advisor to presidents and as chief economist at the World Bank, Stiglitz has witnessed these profound changes firsthand. As he argues, the failures follow from the elites’ unshakeable dedication to “the neoliberal experiment.” Explicitly taking on giants such as Friedrich Hayek and Milton Friedman, Stiglitz exposes accepted ideas about our political and economic life for what they are: twisted visions that tear at the social fabric while they enrich the very few. The Road to Freedom breaks new ground, showing how economics—including recent advances in which Stiglitz has played such an important role—reframes how to think about freedom and the role of the state in a twenty-first century society. Drawing on the work of contemporary philosophers, Stiglitz explains a deeper, more humane way to assess freedoms—one that considers with care what to do when one person’s freedom conflicts with another’s. We must reimagine our existing economic and legal systems and embrace forms of collective action, including regulation and investment, if we are to create an innovative society in which everyone can flourish. The task could not be more urgent, and Stiglitz’s latest book is essential reading for those committed to the American ideal of an economic and political system that delivers well-being, opportunity, and meaningful freedoms for all.
A workbook for sex offenders incorporating the latest developments in relapse prevention training. It features the four-path R-P model and invites offenders, in an easy-to-read style, to examine their own approach to offending, addressing the high risk factors that trigger and maintain that approach. This book looks beyond the cognitive and behavioral linchpins of offending to the powerful emotional needs that energize deviant sex. The authors believe that only by learning to meet these needs in healthy ways can offenders attain the positive reinforcements that lead to maintaining important lifestyle changes. Newly-added sections address the role of polygraphy in sex offender treatment and the role of the Internet in sexual compulsivity.
“Urgent work, by the foremost champion of ‘progressive capitalism.’ ” —The New Yorker An authoritative account of the dangers of unfettered markets and monied politics, People, Power, and Profits shows us an America in crisis. The American people, however, are far from powerless, and Joseph Stiglitz provides an alternative path forward through his vision of progressive capitalism, with a comprehensive set of political and economic changes.
An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future prosperity. The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression. Flawed government policy and unscrupulous personal and corporate behavior in the United States created the current financial meltdown, which was exported across the globe with devastating consequences. The crisis has sparked an essential debate about America’s economic missteps, the soundness of this country’s economy, and even the appropriate shape of a capitalist system. Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is “an insanely great economist, in ways you can’t really appreciate unless you’re deep into the field” (Paul Krugman, New York Times). In Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those “too big to fail,” while also outlining the alternatives and revealing that even now there are choices ahead that can make a difference. The system is broken, and we can only fix it by examining the underlying theories that have led us into this new “bubble capitalism.” Ranging across a host of topics that bear on the crisis, Stiglitz argues convincingly for a restoration of the balance between government and markets. America as a nation faces huge challenges—in health care, energy, the environment, education, and manufacturing—and Stiglitz penetratingly addresses each in light of the newly emerging global economic order. An ongoing war of ideas over the most effective type of capitalist system, as well as a rebalancing of global economic power, is shaping that order. The battle may finally give the lie to theories of a “rational” market or to the view that America’s global economic dominance is inevitable and unassailable. For anyone watching with indignation while a reckless Wall Street destroyed homes, educations, and jobs; while the government took half-steps hoping for a “just-enough” recovery; and while bankers fell all over themselves claiming not to have seen what was coming, then sought government bailouts while resisting regulation that would make future crises less likely, Freefall offers a clear accounting of why so many Americans feel disillusioned today and how we can realize a prosperous economy and a moral society for the future.
New York Times Bestseller An accessible, compelling introduction to today’s major policy issues from the New York Times columnist, best-selling author, and Nobel prize–winning economist Paul Krugman, now with a new preface. There is no better guide than Paul Krugman to basic economics, the ideas that animate much of our public policy. Likewise, there is no stronger foe of zombie economics, the misunderstandings that just won’t die. In Arguing with Zombies, Krugman tackles many of these misunderstandings, taking stock of where the United States has come from and where it’s headed in a series of concise, digestible chapters. Drawn mainly from his popular New York Times column, they cover a wide range of issues, organized thematically and framed in the context of a wider debate. Explaining the complexities of health care, housing bubbles, tax reform, Social Security, and so much more with unrivaled clarity and precision, Arguing with Zombies is Krugman at the height of his powers. It is an indispensable guide to two decades’ worth of political and economic discourse in the United States and around the globe, and now includes a preface on "Zombies in the Age of COVID-19." With quick, vivid sketches, Krugman turns his readers into intelligent consumers of the daily news and hands them the keys to unlock the concepts behind the greatest economic policy issues of our time. In doing so, he delivers an instant classic that can serve as a reference point for this and future generations.
How does history end? -- The Red Queen -- Will to power -- Economics outside the corridor -- Allegory of good government -- The European scissors -- Mandate of Heaven -- Broken Red Queen -- Devil in the details -- What's the matter with Ferguson? -- The paper leviathan -- Wahhab's children -- Red Queen out of control -- Into the corridor -- Living with the leviathan.
The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith's invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies. Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading.
This book argues that we are undergoing a transition from industrial capitalism to a new form of capitalism - what the author calls & lsquo; cognitive capitalism & rsquo;
By the winner of the 1988 Nobel Prize in Economics, an essential and paradigm-altering framework for understanding economic development--for both rich and poor--in the twenty-first century. Freedom, Sen argues, is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population. Releasing the idea of individual freedom from association with any particular historical, intellectual, political, or religious tradition, Sen clearly demonstrates its current applicability and possibilities. In the new global economy, where, despite unprecedented increases in overall opulence, the contemporary world denies elementary freedoms to vast numbers--perhaps even the majority of people--he concludes, it is still possible to practically and optimistically restain a sense of social accountability. Development as Freedom is essential reading.