Economic Crises Around the World

As the U.N. secretary-general blasts wealthy nations for rigging the global economy for their benefit, we speak with economist Joseph Stiglitz about how war, the pandemic and the climate emergency are causing economic crises across the globe. He also says interest rate hikes by the U.S. Federal Reserve are making things worse for the Global South, as the cost of borrowing rises for many countries already struggling with debt. Stiglitz is a Nobel Prize-winning economist, Columbia University professor and former chair of the Council of Economic Advisers. He is also currently the chief economist of the Roosevelt Institute. His latest book is titled _People, Power, and Profits: Progressive Capitalism for an Age of Discontent_. Professor Stiglitz joins us on Democracy Now! to discuss the current global economy.