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How to Fix the Economy46:01
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People stop to look through the windows of the Nasdaq MarketSite Tuesday, Oct. 14, 2008, in New York. (AP Photo/Mark Lennihan)
People stop to look through the windows of the Nasdaq MarketSite Tuesday, Oct. 14, 2008, in New York. (AP Photo/Mark Lennihan)

We need perspective. Investment pioneer John Bogle was founder and CEO of the Vanguard Group, one of the largest mutual fund groups in the world. He’s been a super-capitalist — and super critic of investment gone wrong.

Progressive economist Jared Bernstein has been sounding alarms for years on inequality and American policy. Now, all bets are off.

This hour, On Point: Bogle and Bernstein on an economy in crisis, and the way out.

You can join the conversation. Do we have the right prescription for recovery? What’s your question on the economic crisis now?Guests:

Joining us from Valley Forge, Pennsylvania, is John Bogle. He's founder and former longtime CEO of the Vanguard Group, one of the very largest mutual fund groups in the world. He invented the first index mutual fund in 1975, investing across the broad stock market. He’s been a tough critic of investment practices in recent years. He's now President of Vanguard's Bogle Financial Markets Research Center. He's written several books on investing and financial history. His newest book, out next month, is "Enough: True Measures of Money, Business, and Life."

Joining us from Washington is Jared Bernstein, senior economist and director of the Living Standards Program at the Economic Policy Institute. He's on the advisory committee for the Congressional Budget Office. He wrote recently that the implosion rocking financial markets is “the sound of conservative ideology collapsing.” His latest book is "Crunch: Why Do I Feel So Squeezed? (And Other Unsolved Economic Mysteries)."

This program aired on October 15, 2008.

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