Joseph Stiglitz points to the popularity of the ideology of the late Milton Friedman, fellow Nobel laureate economist, as a significant reason for the high inequality and low growth in the US today. Friedman said that in a free market, a public company exists solely to serve shareholders. Stiglitz argued that there is a wealth of proof that these free market conditions cannot exist. This debate has been going on since the 1930s, but the tide seems to be shifting toward the champions of...
READ FULL ARTICLE »
Become a member to take advantage of more features, like commenting and voting.
Register or sign in today!