Showing posts with label China. Show all posts
Showing posts with label China. Show all posts

Friday, February 19, 2010

Joseph Stiglitz: Why we have to change capitalism

In the Great Recession that began in 2008, millions of people in America and all over the world lost their homes and jobs. Many more suffered the anxiety and fear of doing so, and almost anyone who put away money for retirement or a child's education saw those investments dwindle to a fraction of their value.
A crisis that began in America soon turned global, as tens of millions lost their jobs worldwide – 20m in China alone – and tens of millions fell into poverty.