HomeUploadUpload DirectHotlinkRandomAbouttheme toggle
Expand

Can the Free Market End Global Poverty? Nobel Laureate Joseph Stiglitz vs. NYU's William Easterly

Views:753
@ReasonVids

Development economists Joseph Stiglitz and William Easterly debate whether developing nations need more government or more markets.

Subscribe to our YouTube channel: http://youtube.com/reasontv

Like us on Facebook: https://www.facebook.com/Reason.Magaz...
Follow us on Twitter: https://twitter.com/reason
Subscribe to our podcast at iTunes: https://goo.gl/az3a7a

Reason is the planet's leading source of news, politics, and culture from a libertarian perspective. Go to reason.com for a point of view you won't get from legacy media and old left-right opinion magazines.


There has been a staggering reduction in global poverty over the last four decades. In China, sustained rates of economic growth have lifted 800 million people out of extreme poverty. Ethiopia, a country once synonymous with famine, has grown faster than China while nearly halving its poverty rate over the last 15 years. Across the planet, developing countries large and small, from India to Ghana, have seen astonishing successes in alleviating poverty, exceeding even the most optimistic economic forecasts.

How did this extraordinary shift happen? Do poor countries need more markets, or more government?

Two of the world's best-known development economists, Joseph Stiglitz and William Easterly, met on August 27, 2018, at the SubCulture Theater in Manhattan's East Village to debate these questions. The event was sponsored by the Soho Forum, a monthly debate series partnered with Reason. Soho Forum Director Gene Epstein moderated.

Stiglitz, a Nobel laureate and former chief economist of the World Bank, is a professor at Columbia University. He credits thoughtful and aggressive government intervention for the rising fortunes of China and Ethiopia. In his view, markets are a tool to stimulate economic growth—but not always the most effetive one. "You always are going to have a mixture of governments and markets," he says. "And the only success is going to be where you get the right mixture."

Easterly is a professor of economics at New York University and a senior fellow at the Brookings Institution. He argues that China only achieved stellar growth rates after the Communist Party started to recede from economic life and created a space for markets to thrive. Likewise, Ethiopia prospered only after the disintegration of a repressive Communist regime, known as the Derg, paved the way for widespread privatization of industry and commerce.

Produced by Todd Krainin.

libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
,
international monetary fund
,
development economics
    Thumbnail for This Simulator Was Built to Stop Cops From Shooting Dogs2:53
    This Simulator Was Built to Stop Cops From Shooting Dogs
    ReasonVids
    937 views
    Thumbnail for Jared Taylor, What Former Presidents Really Thought on Race (Alt-Right: Age of Rage - Deleted Scene) | Age Of Rage7:41
    Jared Taylor, What Former Presidents Really Thought on Race (Alt-Right: Age of Rage - Deleted Scene) | Age Of Rage
    invidious
    355 views
    Thumbnail for CNN and James Clapper Spread Pre-Election Disinformation2:03
    CNN and James Clapper Spread Pre-Election Disinformation
    bestofvoatxyz
    726 views
    Thumbnail for Mikenigger finally got drafted in the war 0:28
    Mikenigger finally got drafted in the war
    bestofupgoat
    83 views
    Thumbnail for The Return of the King0:08
    The Return of the King
    bestofupgoat
    389 views
    Thumbnail for China and Transportation: What We Can Learn In The United States9:49
    China and Transportation: What We Can Learn In The United States
    ReasonVids
    946 views
    Thumbnail for Dana White has a point0:19
    Dana White has a point
    bestofupgoat
    512 views
    Thumbnail for Greg Gutfeld: The Joy of Hate, Liberal Speech Police, & Conservative Punks10:18
    Greg Gutfeld: The Joy of Hate, Liberal Speech Police, & Conservative Punks
    ReasonVids
    1035 views
    Thumbnail for Randy Barnett: Secret NSA Snooping is "a Fundamental Challenge" to Democracy9:46
    Randy Barnett: Secret NSA Snooping is "a Fundamental Challenge" to Democracy
    ReasonVids
    931 views
    Thumbnail for IJ's Robert McNamara discusses the DC Tours case on Fox2:10
    IJ's Robert McNamara discusses the DC Tours case on Fox
    IJvids
    874 views
    Thumbnail for What Happens If Lake Mead Dries Up Forever? | Grunge12:47
    What Happens If Lake Mead Dries Up Forever? | Grunge
    invidious
    332 views
    Thumbnail for Why Fighter Jets Don't Use Scramjets | Dwaynes Aviation0:28
    Why Fighter Jets Don't Use Scramjets | Dwaynes Aviation
    invidious
    98 views
    Thumbnail for Protests rock Israel0:08
    Protests rock Israel
    bestofvoatxyz
    406 views
    Thumbnail for Dr. Joseph Goebbels Speech - Why We Are National Socialists3:43
    Dr. Joseph Goebbels Speech - Why We Are National Socialists
    NachtWaffen
    860 views
    Thumbnail for Bullshit software controls preventing mechanics from working on new vehicles1:53
    Bullshit software controls preventing mechanics from working on new vehicles
    bestofupgoat
    413 views
    Thumbnail for Mongolian autotune, years ahead of western music.0:15
    Mongolian autotune, years ahead of western music.
    bestofupgoat
    95 views
    Thumbnail for Dr. David Martin, Proof of COVID Criminal Conspiracy - EU Parliament Strasbourg - (9-13-2023) - WHO25:58
    Dr. David Martin, Proof of COVID Criminal Conspiracy - EU Parliament Strasbourg - (9-13-2023) - WHO
    AOUisgay
    457 views
    Thumbnail for New Zealand niggers are fed up with the faggots3:14
    New Zealand niggers are fed up with the faggots
    bestofupgoat
    85 views
    Thumbnail for SlotherHouse1:33:00
    SlotherHouse
    Fromcytube
    274 views
    Thumbnail for What about healthcare and libertarians?2:19
    What about healthcare and libertarians?
    ReasonVids
    837 views
    Thumbnail for Bob Poole and Adrian Moore: Why Highways Beat High-Speed Rail44:46
    Bob Poole and Adrian Moore: Why Highways Beat High-Speed Rail
    ReasonVids
    882 views
    Thumbnail for 3 Reasons the US MILITARY Should NOT Fight Ebola2:08
    3 Reasons the US MILITARY Should NOT Fight Ebola
    ReasonVids
    984 views
    Thumbnail for Porker of the Month January 20111:33
    Porker of the Month January 2011
    ReasonVids
    932 views
    Thumbnail for Biden Is Clueless About Inflation3:51
    Biden Is Clueless About Inflation
    ReasonVids
    1060 views

points

Permalink
Reply
libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
,
international monetary fund
,
development economics
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle