we are speaking with joe stiglitz later.to be the most grown-up in the brexit. gilles: she clearly has some sort of a plan. when the news came out of the brexit vote. the problem is that it is unclear what room to maneuver she has. i guess the favorite approach what was publicly stated initially that they would euegotiate membership of the even if the rest of the uk. that seems complicated to organize. then it is trying to get the -- best possible deal with the u.k. with scotland and it. if all else fails they are exiting from the u.k. altogether. there is a logic and the clear ranking of what they want. the problem is, they are not in charge. they're not completely independent. tom: a book a few years ago revenge."rxist if we need to think about capitalism, what do we need to do to shift the dialogue away from short-term-ism? rx iana: when i read ma appreciated capitalism, free capital volume 1, 2, and three is all about change. you were talking about physics. one of the problems with neoclassical economics is they took new

erik: that was joe stiglitz, the professor atinner, columbia university. i want to turn a memo from poetry capital. this time, he turned his spotlight on brexit, the rise of populism, and the u.s. election. i want to draw your attention fromfically to one quote the memo, which is kind of a response to what you heard. international specialization, rising productivity, job losses, the need for education and a feeling of hopelessness are real and powerfully influential. there he agrees with stiglitz. whether we like them or not, they are economic reality and cannot be ignored or refuted. scarlet: so he is saying there is a new normal, this belief that so many americans have that your children's generation will have a better future than we did , we cannot take that for granted anymore. although he does not go into it specifically, he helps to give voice to this idea that you cannot just direct trade barriers and hope to return the theomy to where it was in 1980's, 1950's -- i don't really know where those people want to return the u.s. economy to, but there ar

tomorrow, joe stiglitz -- all republicans, watch. ♪ avtk"0 jon: great expectations. the first times and brexit. david: the u.k. labor market shows signs of continued strength. sterling continues to rally. skin ins. voters with the game are loosing confidence the republican nominee is best for their portfolios. jon: warm welcome to "bloomberg ." we've been playing the fed rate hike game for nine months now. it has gotten more noise in the last 24 hours. david: the game is not over yet. we will get the minutes. alix: before those minutes come it feels like all quiet. you have the dollar reclaiming a bit of ground, sittiig

it's not that hard. >> on that note, professor stiglitz, it's been great having you around. >> you're really coming around, joeo on the same paging. >> it's okay. it's better. it's good. now we got, you know, another socialist coming up. bill arian for the next hour. thank you, professor joseph stiglitz. and the new book "the euro" is out today. you'll hear it from wilf. >>> still to come, "squawk" market master muhammad el-erian, we'll get his latest market action. as we head to break, a quick check on the markets. higher by ten points off the half a percent decline yesterday. where we explore. protecting biodiversity. everywhere we work. defeating malaria. improving energy efficiency. developing more clean burning natural gas. my job? my job at exxonmobil? turning algae into biofuels. reducing energy poverty in the developing world. making cars go further with less. fueling the global economy. and you thought we just made the gas. ♪ energy lives here. >>> the fed in focus. the central bank hinting about a september to remember. squawk market master muhammad el-erian will weigh in. >>> details of trouble at t

democrat adam shift and republican strategy mike murphy and nobel winning economist joseph but stiglitz. >> joe, we're going to break. >> i was reading "sports illustrated" in my econ 101 class. >>> forced the evacuation of 82,000 people overnight. bill, my gosh. from louisiana to california. fire and rain. what's going on? >> the fire in southern california, this one is about 60 miles to the east of l.a. just to the northwest of san bernardino and it was formed yesterday about 10:30 in the morning and quickly started spreading and these were new pictures we just got in. this is what we were afraid of. structures being burned in the area. 2,000 people evacuated out of this. the main interstate between las vegas and no chance of opening that this morning. you can imagine what that will do during rush hour. that is someone's home burning to the ground. heree are on the map. 27 active fires right now in areas of the west and we're watching red flag warnings where that blue cut fire is. 700 personnel and growing. using nighttime helicopters on and the forecast on that fire about 96. flood watches i

stiglitz, on european asbestos regulation. i'll be tweeting that shortly. >> by the way, that's one thing you can always count on "morning joe" s regulation. >> and re-regulation. what have you learned? >> i just learned from professor stiglitz, this crazy thing in nafta, where companies get reimbursed and get compensated. that's crazy stuff. and that's in tpp, too. >> it should. >> what have you learned? >> that's what i learned. >> it's way too early, it's "morning joe." let's go to stephanie right now. she picks up the coverage. >> thanks a lot, joe. those guys always have a good time. i'm stephanie rue. hope you're having a good morning. we have some breaking news. campaign shake up. donald trump upends his campaign yet again. paul manafort, effectively demoted. two new trump confidants now in charge. the campaign is bragging that one is the most dangerous political operative in america. here's the question, can he turn the campaign ou

joe" to talk about european asbestos regulation. >> and re-regulation. what have you learned? >> i just learned from professor stiglitz, this crazy thing in nafta, where companies get reimbursed and get compensated. that's crazy stuff. and that's in tpp, too. >> it should. >> what have you learned? >> that's what i learned. >> it's way too early, it's "morning joe." let's go to stephanie right now. she picks up the coverage. >> thanks a lot, joe. those guys always have a good time. i'm stephanie rue. hope you're having a good morning. we have some breaking news. campaign shake up. donald trump upends his campaign yet again. paul manafort, effectively demoted. two new trump confidants now in charge. the campaign is bragging that one is the most dangerous political operative in america. here's the question, can he turn the campaign around? >>> also breaking, out of control. a massive wildfire sending more than 80,000 residents fleeing mandatory evacuations for a total of eight communities. >> i guess it's really moving fast. we just got told, like, you have to get out, now. >> houses destroyed with no end in sight. we a