And Stiglitz fears some countries may be careening towards "a 21st century version of fascism." But contrary to the classic argument made by Hayek, Stiglitz say

And Stiglitz fears some countries may be careening towards "a 21st century version of fascism." But contrary to the classic argument made by Hayek, Stiglitz says, this rise in authoritarianism "comes not in the countries where the government is doing too much, but where the government is doing too little to protect individuals against unemployment, the stresses of adaptation to globalization, to technical change, to the stresses of migration." Too much vs not enough? That's the wrong lens. It's who / what these governments are doing X or Y for. Apparently, Stiglitz doesn't understand the difference between Capitalism and free markets and Crony Capitalism and the gov putting its thumb on the scale to heavily influence winners (Corporations) and losers (citizens / voters). The foundation of Crony Capitalism is a top-heavy government that can be manipulated by the few in favor of the few. When that goes on long enough, eventually there's pushback. But sure, let's blame The People for the system that has intentionally failed them? Stiglitz and his ilk need to get out more. All that time in academia is warping their understanding of reality.