Renowned economist Joseph Stiglitz thinks the best way to reduce national debt is to stimulate the economy. In other words, the government needs to spend, spend, spend.
The government needs to shift its spending from things like the war in Afghanistan – which Stiglitz says is “a debt for which there’s no asset on the other side” – to real investments, like infrastructure, technology, and education.
Stiglitz, author of a new book The Price of Inequality, explains to Business Insider chief Henry Blodget why the U.S. government is in a great position to borrow money and how that money should be spent in the video interview below:
Produced by Kamelia Angelova, William Wei & Daniel Goodman
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