Joseph E. Stiglitz
Joseph E. Stiglitz is University Professor at Columbia University, a Nobel laureate in economics, and the author of Freefall: Free Markets and the Sinking of the Global Economy.
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2012-01-12
| The pragmatic commitment to growth that one sees in Asia and other emerging markets today stands in contrast to the West’s misguided policies, which, driven by ideology and vested interests, almost seem to reflect a commitment not to grow. As a result, global economic rebalancing is likely to accelerate, almost inevitably giving rise to political tensions.... read |
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2011-12-19
| The year 2012 could prove to be historically significant – the year in which the eurozone, the culmination of 50 years of European integration, falls apart, and the rating agencies’ downgrade of US sovereign debt turns out to have been justified. If investors suffered from irrational exuberance in the 1990’s, rational pessimism is likely to prevail in the coming year.... read |
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2011-12-05
| It is increasingly evident that Europe’s political leaders, for all their commitment to the euro’s survival, do not have a good grasp of what is required to make the single currency work. Public-sector cutbacks today do not solve the problem of yesterday’s profligacy; they simply push economies into deeper recessions.... read |
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2011-11-04
| With globalization and modern technology, social movements can transcend borders as rapidly as ideas can. And social protest has found fertile ground everywhere: a sense that the “system” has failed, and the conviction that even in a democracy, the electoral process will not set things right – at least not without strong pressure from the street.... read |
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2011-10-03
| As the economic slump that began in 2007 persists, the question on everyone’s minds is obvious: Why? That is as it should be, because, unless we have a better understanding of the causes, we can’t implement an effective recovery strategy – and, so far, we have neither.... read |
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2011-09-01
| The September 11, 2001, terror attacks by Al Qaeda were meant to harm the US, and they did, but in ways that Osama bin Laden probably never imagined. President George W. Bush’s response compromised America’s basic principles, undermined its economy, and weakened its security.... read |
Comments: 20
Recommended: 6
Read: 118131
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2011-08-05
| There has been much concern about financial contagion between Europe and America. But the real problem stems from another form of contagion: bad ideas move easily across borders, and misguided economic notions on both sides of the Atlantic have been reinforcing each other.... read |
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2011-07-06
| The US economy's troubles should have taught Americans (and others) that they need greater equality,stronger regulation, and a better balance between the market and government. Instead, resurgent right-wing economics once again threatens the global economy – or at least Europe and America.... read |
Comments: 45
Recommended: 5
Read: 108250
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2011-06-03
| Sooner than expected, the IMF will have a new managing director, and it will most likely be a European, as in the past. But whether the Fund's leader is selected in an open, transparent process, and continues to implement important governance reforms, is more important than who wins the post.... read |
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The IMF’s Switch in Time
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Joseph E. Stiglitz 
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The annual spring meeting of the IMF was notable in marking the Fund’s effort to distance itself from its own long-standing tenets on capital controls and labor-market flexibility. It appears that a new IMF has gradually emerged under the leadership of Dominique Strauss-Kahn, who may soon be leaving to seek the presidency of France.... read
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2003-11-06
| Wittingly or unwittingly, individuals do things that injure other individuals. For society to function, it must provide individuals with incentives not to do so, through rewards and punishments, regulations and fines. By polluting the air, one harms anyone who breathes. The legal system has an important role here. If I injure you, you should be able to sue me. ... read |
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2003-10-06
| Today, many emerging markets, from Indonesia to Mexico, are told that there is a certain code of conduct to which they must conform if they are to be successful. The message is clear: here is what advanced industrial countries do, and have done. If you wish to join the club, you must do the same. The reforms will be painful, vested interests will resist, but with enough political will, you will reap the benefits. ... read |
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2003-09-24
| For three years, America's president has pursued a unilateralist agenda, ignoring all evidence that contradicts his positions, and putting aside basic and longstanding American principles. ... read |
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2003-09-24
| It is six years since the IMF's fateful meeting in Hong Kong, just before the global financial crisis. I was there. What a peculiar meeting it was. To those paying attention, it was clear that a crisis loomed. Capital market liberalization was the culprit, exposing countries to the vagaries of international capital flows--to both irrational pessimism and optimism, not to mention the manipulation of speculators. ... read |
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2003-08-06
| The National Bureau of Economic Research, the non-profit organization that has long been responsible for marking the beginning and end of America's recessions, has finally declared that the recession that it said began in March 2001 is over. In fact, the NBER says that it ended almost two years ago, in November 2001. ... read |
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2011-09-01
| The September 11, 2001, terror attacks by Al Qaeda were meant to harm the US, and they did, but in ways that Osama bin Laden probably never imagined. President George W. Bush’s response compromised America’s basic principles, undermined its economy, and weakened its security.... read |
Comments: 20
Recommended: 6
Read: 118131
-
2011-07-06
| The US economy's troubles should have taught Americans (and others) that they need greater equality,stronger regulation, and a better balance between the market and government. Instead, resurgent right-wing economics once again threatens the global economy – or at least Europe and America.... read |
Comments: 45
Recommended: 5
Read: 108250
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2011-10-03
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| As the economic slump that began in 2007 persists, the question on everyone’s minds is obvious: Why? That is as it should be, because, unless we have a better understanding of the causes, we can’t implement an effective recovery strategy – and, so far, we have neither.... read |
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2011-11-04
| With globalization and modern technology, social movements can transcend borders as rapidly as ideas can. And social protest has found fertile ground everywhere: a sense that the “system” has failed, and the conviction that even in a democracy, the electoral process will not set things right – at least not without strong pressure from the street.... read |
2011-11-04