Will Democracy Govern Capitalism - or be consumed by it?

Feb 7th, 2026, Joseph E. Stiglitz and Jayati Ghosh
Following aggressive lobbying by the Trump administration, more than 145 countries agreed to give big US multinationals a free pass under the global corporate minimum tax rules that were agreed in 2021. But if democracy is to prevail over oligarchy, policymakers must tax extreme wealth appropriately – and they must do it fast.
  
* This article was originally published in Project Syndicate on February 6, 2026.


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