A Nobel Prize winner explains progressive capitalism and freedom

Joseph Stiglitz believes a 21st-century economy and society require a rich set of institutions, from profit-making firms to cooperatives, unions, an engaged civil society, not-for-profit institutions, and public institutions, components of what he calls progressive capitalism.

Joseph Stiglitz is a professor of economics, public policy, and business at Columbia University. He received the Nobel Memorial Prize in Economic Sciences in 2001. Formerly, he was the senior vice president and chief economist of the World Bank, as well as a former member and chairman of the Council of Economic Advisers under the Clinton administration.