Nobel Economist Stiglitz: “US Privatized Profits, Socialized Losses Is Not Capitalism.” It’s Fascism
[ Damn right ]
Joseph Stiglitz understands half the US economic disaster when he explains current policy is “no way to run an economy that’s going to work,” “there’s moral hazard everywhere,” and newly-invented and unregulated financial markets have only increased risk, not decreased it.
The Nobel Laureate, former chief economist for the World Bank, and current Columbia university economics professor understands fully that US economic policy is designed to benefit an elite-class of financial market “traders.”
Mr. Stiglitz accurately gives a high school-level definition of such an economic system as “not capitalism.”