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 la

One of the central theories of classical economics is that markets respond quickly and efficiently to changes in demand. But the pandemic clearly demonstrates 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

On the Gist, Trump doesn’t understand sizes of countries. In the interview, economist Joseph Stiglitz is here to talk about the economic impact of the coming recession. He and Mike discuss ways the government could distribute support funds better, how long it might take us to recover from such high unemployment, and wh

What happens when you cross the U.S.-China trade war with the Christmas tradition of covering your home in lights, while tossing in a Nobel-winning economist for good measure? Why, you get the year-end episode of Stephanomics, of course. America slapped tariffs on holiday lights made in China, the world’s dominant supp

In this week’s books podcast, the guest is the Nobel prize-winning economist Joseph Stiglitz, architect of Bill Clinton’s “Third Way” and former chief economist at the World Bank.  His new book People, Power and Profits: Progressive Capitalism for an Age of Discontent argues Trump’s economic boom is a “sugar-high”, and

This week’s guest is a Nobel Prize winner. We like to sprinkle those in every so often. Joseph Stiglitz revolutionized how economists understood market failures (hence that prize), served as chief economist at The World Bank, led the Council of Economic Advisers under Bill Clinton, has written more great books and arti