Nobel-Winning Economist Joseph Stiglitz on the Failures of Neoliberalism and Sanctions Against Russia

Joseph Stiglitz is a world-renowned economist and thinker who was awarded the Nobel Prize in Economic Sciences in 2001. I met him in Tbilisi, the capital of Georgia, in June 2025 during the inspiring Zeg Festival in which we both participated. In this podcast episode, we spoke about his latest book, "The Road to Freedom", published last year, and about how flawed ideas of freedom can ultimately undermine freedom itself. I also asked him what the world can do to stop Russia’s brutal invasion of Ukraine. *** Host: Volodymyr Yermolenko, a Ukrainian philosopher, the chief editor of UkraineWorld, and the president of PEN Ukraine. UkraineWorld is an English-language media outlet focusing on Ukraine and its connections with the wider world. This media outlet is run by Internews Ukraine. This episode is also made in partnership with "Politeia", a Ukrainian NGO focusing on preparing a new generation of change-makers in Ukraine. *** You can support UkraineWorld on Patreon (https://www.patreon.com/c/ukraineworld). Your support is vital, as we rely heavily on crowdfunding. You can also contribute to our volunteer missions to frontline areas in Ukraine, where we provide aid to both soldiers and civilians. Donations are welcome via PayPal at: [email protected]. *** Contents: 0:00:00 - Intro 0:02:24 - How does "The Road to Freedom" compare to Hayek's "The Road to Serfdom" and Snyder's "The Road to Unfreedom"? 0:02:45 - What are Stiglitz’s main criticisms of neoliberalism? 0:08:09 - What's the core flaw in the concept of "limitless freedom"? 0:17:33 - How is Russia undermining democracy? 0:19:00 - What steps can Europe take with frozen Russian assets for Ukraine? 0:20:46 - Why won't seizing Russian assets cause a capital crisis or violate rule of law? 0:27:22 - How can good regulation foster beneficial innovation, not just exploitation?