Globalization's Discontents [Joe Stiglitz]

Joe Stiglitz discusses the flawed belief that liberalization and globalization would lead to universal economic growth. He highlights the challenges posed by globalization, including income stagnation and increased economic risk. Stiglitz critiques the lack of market efficiency and the negative impact on unskilled workers, driven by a corporate agenda. He calls for a reform of globalization rules and a new social contract to ensure inclusive growth and shared prosperity.

What were the initial beliefs regarding lowering taxes and liberalization?

How has globalization affected the incomes of large fractions of the population?

What did Paul Samuelson's theorems reveal about trade liberalization in advanced countries?

What is the relationship between corporate agendas and wage levels according to the speaker?

What changes does the speaker suggest are necessary for sustained economic growth based on globalization?