"It’s a new form of indentured servitude." Sure, you or I can say it, but there's more heft when it comes from a Nobel Laureate in economics.

The "It" of indentured servitude is the student loan weight placed upon those seeking post K-12 learning, with the thing having grown not haphazardly, but as a conscious thing after the 1960's days of student protest. The theme being, "Get 'em on payments ASAP and they'll be more manageable, akin to a nose ring on cattle." That's the history, traceable back to days of discord and capitalist big money fashioning an answer. Why is it not focused upon much, that way? Look at who defines the lens; whose money sets focusing.

That said, the link, with the comment on "indentured servitude" a mid-item part, but the entire thing worth attention.

And do THINK. "Pliant on Payments" could have been a catch-phrase when the plutocrats formulated policy in the back rooms of government. Government and finance, hand in hand.

Do read that Democracy Now! transcript. It's helpful.

UPDATE: Read it all the way to where Stiglitz states:

And the word I use is progressive capitalism. But, you know, is there any difference between my definition of progressive capitalism and what Bernie has called democratic socialism? No. It’s all trying to get at an economy that serves our citizens.