http://www.project-syndicate.org/series/unconventional_economic_wisdom <p><em>Is “boom and bust” a permanent feature of the capitalist order? Do global markets need global regulation – and are today’s supranational institutions the right ones to provide it? Is the dream of a Third Way between today’s global capitalism and yesterday’s discredited socialism still alive?</em></p> <p></p> en 2012-02-10T05:55:22+01:00 webmaster@project-syndicate.org Joseph E. Stiglitz 1994-01-01T00:00:00+01:00 4 hourly http://www.project-syndicate.org/commentary/stiglitz148/English <a href=http://www.project-syndicate.org/commentary/stiglitz148/English>STIGLITZ: Capturing the ECB</a> There are several explanations for the ECB’s insistence on a "voluntary" restructuring of Greece's sovereign debt, none of which speaks well for the institution. Indeed, as we have seen elsewhere, institutions that are not democratically accountable tend to be captured by special interests. Joseph E. Stiglitz 2012-02-06T00:00:00+01:00 http://www.project-syndicate.org/commentary/stiglitz147/English <a href=http://www.project-syndicate.org/commentary/stiglitz147/English>STIGLITZ: The Perils of 2012</a> 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. Joseph E. Stiglitz 2012-01-12T00:00:00+01:00 http://www.project-syndicate.org/commentary/stiglitz146/English <a href=http://www.project-syndicate.org/commentary/stiglitz146/English>STIGLITZ: What Can Save the Euro?</a> 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. Joseph E. Stiglitz 2011-12-05T00:00:00+01:00 http://www.project-syndicate.org/commentary/stiglitz144/English <a href=http://www.project-syndicate.org/commentary/stiglitz144/English>STIGLITZ: The Globalization of Protest</a> 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. Joseph E. Stiglitz 2011-11-04T00:00:00+01:00 http://www.project-syndicate.org/commentary/stiglitz143/English <a href=http://www.project-syndicate.org/commentary/stiglitz143/English>STIGLITZ: To Cure the Economy</a> 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. Joseph E. Stiglitz 2011-10-03T00:00:00+02:00 http://www.project-syndicate.org/commentary/stiglitz142/English <a href=http://www.project-syndicate.org/commentary/stiglitz142/English>STIGLITZ: The Price of 9/11</a> 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. Joseph E. Stiglitz 2011-09-01T00:00:00+02:00 http://www.project-syndicate.org/commentary/stiglitz141/English <a href=http://www.project-syndicate.org/commentary/stiglitz141/English>STIGLITZ: A Contagion of Bad Ideas</a> 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. Joseph E. Stiglitz 2011-08-05T00:00:00+02:00 http://www.project-syndicate.org/commentary/stiglitz140/English <a href=http://www.project-syndicate.org/commentary/stiglitz140/English>STIGLITZ: The Ideological Crisis of Western Capitalism</a> 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. Joseph E. Stiglitz 2011-07-06T00:00:00+02:00 http://www.project-syndicate.org/commentary/stiglitz139/English <a href=http://www.project-syndicate.org/commentary/stiglitz139/English>STIGLITZ: Choosing the IMF’s Next Leader</a> 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. Joseph E. Stiglitz 2011-06-03T00:00:00+02:00 http://www.project-syndicate.org/commentary/stiglitz138/English <a href=http://www.project-syndicate.org/commentary/stiglitz138/English>STIGLITZ: The IMF’s Switch in Time</a> 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. Joseph E. Stiglitz 2011-05-05T00:00:00+02:00 http://www.project-syndicate.org/commentary/stiglitz137/English <a href=http://www.project-syndicate.org/commentary/stiglitz137/English>STIGLITZ: Gambling with the Planet</a> The consequences of the Japanese earthquake – especially the ongoing crisis at the Fukushima nuclear power plant – resonate grimly for observers of the American financial crash that precipitated the Great Recession. Both events provide stark lessons about risks, and about how badly markets and societies can manage them. Joseph E. Stiglitz 2011-04-06T00:00:00+02:00 http://www.project-syndicate.org/commentary/stiglitz136/English <a href=http://www.project-syndicate.org/commentary/stiglitz136/English>STIGLITZ: The Mauritius Miracle</a> The small island state of Mauritius has established a track record of democracy, strong social cohesion, and rapid economic growth since independence a half-century ago. The reasons behind the country's success should be borne in mind by politicians in the US and elsewhere as they fight their budget battles. Joseph E. Stiglitz 2011-03-07T00:00:00+01:00 http://www.project-syndicate.org/commentary/stiglitz135/English <a href=http://www.project-syndicate.org/commentary/stiglitz135/English>STIGLITZ: The Tunisian Catalyst</a> The whole world celebrates Tunisia’s democratic revolution, which has set off a cascade of events elsewhere in the region – particularly in Egypt – with untold consequences. But the current upheaval in the Arab world holds important lessons for the West as well. Joseph E. Stiglitz 2011-02-04T00:00:00+01:00