1Department of Educational Finance, National Institute of Educational Planning and Administration, New Delhi, Email: sandhya09dubey@gmail.com, sandhya@niepa.ac.in
Online published on 01 April, 2026.
This review delves into Joseph E. Stiglitz’s latest book “The Road to Freedom: Economics and the Good Society,” examining its central argument for progressive capitalism as the key to achieving genuine societal freedom. Stiglitz, a Nobel laureate in Economics, challenges the prevailing notion of unfettered capitalism as a guarantor of freedom, contending that it has instead exacerbated income inequality, political polarization, and the erosion of social safety nets.
The review highlights Stiglitz’s critique of free-market fundamentalism while drawing upon his analysis of the failure of neoliberal policies to address various market failures, including externalities, public goods provision, and information asymmetry. The author’s alternative, progressive capitalism, emphasizes a positive conception of freedom, advocating for a more active role of the state in ensuring equal opportunities and providing robust social safety nets.
While acknowledging the book’s US-centric perspective as a potential limitation, this review underscores the significance of Stiglitz’s call for a re-evaluation of modern capitalism and doubts its global applicability. However, by proposing concrete pathways towards a freer and more equitable society through progressive economic policies, “The Road to Freedom” offers a timely and thought-provoking contribution to contemporary debates on economics and societal well-being
