American Democracy Is Collapsing, And This Man Predicted It | Aaron Bastani Meets Joseph Stiglitz

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Support our work: http://novara.media/support Get tickets to our live event: https://link.dice.fm/N9636716d4fd?dice_id=N9636716d4fd During the 2008 economic crisis, the Obama administration had an opportunity to enact widespread market reforms. Instead, they bailed out the banks and laid the groundwork for mass inequality and a political culture that has given us a second Trump administration. This week’s guest was in the room where those crucial decisions were made, and argued that financial institutions should not be able to escape the consequences of their recklessness. Joseph Stiglitz is a Nobel Prize-winning economist and author of 'The Road To Freedom: Economics and The Good Society'. He sat down with Aaron to discuss the collapse of American democracy, his relationship with Milton Friedman and whether China is actually a socialist country. 00:00 Intro 02.40 Reflections on Globalization 08:37 Obama & Predicting MAGA 19:29 Milton Friedman 25:07 Adam Smith 33:55 Does The US Need A New FDR? 41:34 Debt & Collapse of Neo-Liberalism 46:44 Where Should The Money Come From? 51:01 What Can China Teach Us?