Hi everybody, I'm John Donovan, host and moderator of Intelligent Squared US debates.

And this week we're bringing you another special episode of our podcast by which I mean we're

not presenting a debate per se as we usually do.

But we're having more of a chat and it's a chat on an issue that we have been thinking

a lot about over the past year and that subject is capitalism.

You might recall if you're a regular listener that that was the topic of our season finale

debate held in New York City just a few months ago, in that one the resolution was capitalism

is a blessing.

And now our friends at Foreign Affairs Magazine are releasing an entire issue that's dedicated

to capitalism and the debate around capitalism's future.

So that's what we're going to be chatting about and I'm doing that here with two terrific

guests, Catherine Mangu Ward, who was part of that debate and is the editor-in-chief

of Reason Magazine which is a prominent libertarian intellectual journal.

And Catherine you debated for the resolution capitalism is blessing in that one.

So thanks very much for coming back for a second round of conversation.

Thanks for having me back.

And our other guest, the noted and notable Joseph Stiglitz, who is a noble prize-winning

economist, he's a professor at Columbia University which is where we're actually taping

part of this debate.

Joe and I are in Columbia and Catherine, is that Reason's offices in Washington, DC.

And Joe, you've just published a featured article in Foreign Affairs Magazine, the title

of which is the starving state why capitalism's salvation depends on taxation.

...