Joseph Stiglitz: “The American model has failed”
Before the G20 summit, Russia and China called for abandoning the dollar as the world's reserve currency. The author of this idea, the Nobel laureate in economics Joseph Stiglitz, is now at the center of a global discussion about the future of capitalism. Stiglitz shared his thoughts on the state of the global financial system, the growing role of China and the meaninglessness of GDP as an indicator of the level of economic development, Stiglitz shared with Newsweek correspondent Rana Foruhar.