THOUGHT LEADERS
I Dissent: Unconventional Economic Wisdom
Joseph E. Stiglitz
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?
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The Dangers of Deficit Reduction
Joseph E. Stiglitz Series: Unconventional Economic Wisdom 
2010-03-05Even with large deficits, economic growth in the US and Europe is anemic, and forecasts of private-sector growth suggest that in the absence of continued government support, there is risk of continued stagnation – of growth too weak to return unemployment to normal levels. if these forecasts are right, a premature “exit” from deficit spending is not worth the risk. ... read Comments: 5 Recommended: 0 Read: 12883
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Muddling Out of Freefall
Joseph E. Stiglitz Series: Unconventional Economic Wisdom
2010-02-05
Barack Obama wanted to bridge the divides among Americans that George W. Bush had opened. But now those divides are wider than ever, and Obama's attempts to please everyone, so evident in the last few weeks, are likely to mollify no one.... read Comments: 6 Recommended: 1 Read: 12319
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Overcoming the Copenhagen Failure
Joseph E. Stiglitz Series: Unconventional Economic Wisdom
2010-01-06Underlying the failure of the climate change summit in Copenhagen last month is the failure of the idea that carbon-emission rights can be allocated fairly. Perhaps it is time to try another approach: a commitment by each country to raise the price of emissions (whether through a carbon tax or emissions caps) to an agreed level, say, $80 per ton.... read Comments: 3 Recommended: 0 Read: 10445
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Too Big to Live
Joseph E. Stiglitz Series: Unconventional Economic Wisdom
2009-12-07
If we have learned one lesson from the financial crisis, it is that the bigger the bank, and the more risk-taking that big banks are allowed to engage in, the greater the threat to our economies and our societies. That is why we need a multi-prong approach, including special taxes, increased capital requirements, tighter supervision, and limits on size and risk-taking activities.... read Comments: 1 Recommended: 2 Read: 15693
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Let A Hundred Theories Bloom
George Akerlof and Joseph E. Stiglitz Series: Unconventional Economic Wisdom 2009-10-26If science is defined by its ability to forecast the future, the failure of much of the economics profession to see the crisis coming should be a cause of great concern. But there is, in fact, a much greater diversity of ideas within economics than is often realized, and there is now more reason than ever to hope that those ideas will receive the broad attention that they deserve.... read Comments: 3 Recommended: 4 Read: 15368
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Borlaug and the Bankers
Joseph E. Stiglitz Series: Unconventional Economic Wisdom 2009-10-06
The recent death of Norman Borlaug, who received the Nobel Peace Prize for his contribution to the “green revolution,” provides an opportune moment to reflect on basic values and on our economic system. Whereas Borlaug saved hundreds of millions from hunger and changed the global economic landscape, those who have made society worse off reap the highest rewards.... read Comments: 1 Recommended: 1 Read: 7915
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GDP Fetishism
Joseph E. Stiglitz Series: Unconventional Economic Wisdom 2009-09-07Striving to revive the global economy while simultaneously responding to the global climate crisis has raised a knotty question: are statistics giving us the right “signals” about what to do? The big question concerns whether GDP provides a good measure of living standards. ... read Comments: 1 Recommended: 0 Read: 13166
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Stimulate or Die
Joseph E. Stiglitz Series: Unconventional Economic Wisdom 2009-08-06
As the green shoots of economic recovery that many people spied this spring have turned brown, many are asking whether the policy of jump-starting the economy through a massive fiscal stimulus has failed. That question, however, would make sense only if Keynesian economics had really been tried. ... read Comments: 4 Recommended: 0 Read: 12592
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The UN Takes Charge
Joseph E. Stiglitz Series: Unconventional Economic Wisdom 2009-07-01While discussions about economic “green shoots” continue unabated in the US, in many countries, and especially in the developing world, matters are getting worse. And, with neither the US nor the G-20 has taking a leadership role in addressing sensitive issues – including reform of the global reserve system – that affect poor countries, the UN has stepped into the gap.... read Comments: 3 Recommended: 0 Read: 12378
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