Nobel Economist Joseph Stiglitz on Democracy Now

Nobel Economist Joseph Stiglitz spoke with Amy Goodman on Democracy Now February 18, 2009. The spoke on Obama’s Stimulus Plan, Debt, Climate Change, and Stiglitz new book “Freefall: America, Free Markets, and the Sinking of the World Economy”

As President Obama defends the success of his one year-old $787 stimulus package, we speak to Nobel Prize-winning economist Joseph Stiglitz, who says the stimulus was both not big enough and too focused on tax cuts. Stiglitz is the author of the new book “Freefall: America, Free Markets, and the Sinking of the World Economy”, which analyzes the causes of the Great Recession of 2008 and calls for overcoming what he calls an “ersatz capitalism” that socializes losses but privatizes gains