Opinion: A 'democratic socialist' agenda is appealing. No wonder Trump attacks it.
By Joseph E. Stiglitz May 8 at 3:06 PM Joseph E. Stiglitz, co-recipient of the 2001 Nobel Prize in economics, teaches at Columbia University and is the author of “People, Power, and Profits: Progressive Capitalism for an Age of Discontent.”
It is no surprise that the extremes of capitalism and its dysfunction have given rise to questions such as: Can capitalism be saved from itself? Is it inevitable that the materialistic greed that it breeds will lead to ever-increasing pay packages for chief executives? Or that those with money will use their political influence to shape our tax system so that the richest pay proportionately less than everyone else? Progressive capitalism can, I believe, save capitalism from itself — if only we...
Of course, while reforms that curb such excesses and make greater investments, for example, in science and technology will increase growth rates in a sustainable way, they will not suffice to restore the middle-class lifestyle increasingly out of reach for large numbers of Americans. That’s why democratic socialists talk about reforms in education , in housing, in ensuring access to employment for everyone who is able to work, and in retirement programs.
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