A Nobel Prize-winning economist says the coronavirus recession is ‘a textbook example of showing that markets don’t work’

Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the “Pitchfork Economics” podcast with Nick Hanauer and David Goldstein. In the latest episode of Pitchfork Economics, they spoke with Nobel laureate in economics and Roosevelt Institute Chief Economist Joseph Stiglitz about the role of the markets in essential services and recession outlooks. We can’t rely on the markets to fix themselves, he said, because externalities — like global health — hindering the markets will continue to weigh on the economy if not tackled head on. And this points