text:
Joseph Stiglitz
From Wikipedia, the free encyclopedia
Jump to: navigation, search
"Stiglitz" redirects here. For other uses, see Stiglitz (disambiguation).
Not to be confused with Joseph Stillitz.
Joseph Stiglitz
Chief Economist of the World Bank
In office
February 13, 1997 – February 2000
President
James Wolfensohn
Preceded by
Michael Bruno
Succeeded by
Nicholas Stern
17th Chair of the Council of Economic Advisers
In office
June 28, 1995 – February 13, 1997
President
Bill Clinton
Preceded by
Laura Tyson
Succeeded by
Janet Yellen
Personal details
Born
Joseph Eugene Stiglitz
(1943-02-09) February 9, 1943 (age 75)
Gary, Indiana, U.S.
Political party
Democratic
Spouse(s)
Jane Hannaway (Divorced)
Anya Schiffrin (2004–present)
Education
Amherst College (BA)
Massachusetts Institute of Technology (MA, PhD)
Gonville and Caius College, Cambridge
St Catherine's College, Oxford
Academic career
Field
Macroeconomics, public economics, information economics
School or
tradition
New Keynesian economics[1]
Doctoral
advisor
Robert Solow[2]
Influences
John Maynard Keynes, Robert Solow, James Mirrlees, Henry George
Contributions
Screening
Taxation
Unemployment
Market failure
Information asymmetry
Economic inequality
Information at IDEAS / RePEc
Listen to this article (info/dl)

This audio file was created from a revision of the article "Joseph Stiglitz" dated 2016-01-26, and does not reflect subsequent edits to the article. (Audio help)
More spoken articles
Joseph Eugene Stiglitz (/ˈstɪɡlɪts/; born February 9, 1943) is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979).[3][4] He is a former senior vice president and chief economist of the World Bank and is a former member and chairman of the (US president's) Council of Economic Advisers.[5][6] He is known for his support of Georgist public finance theory[7][8][9] and for his critical view of the management of globalization, of laissez-faire economists (whom he calls "free market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank.
In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received that university's highest academic rank (university professor) in 2003. He was the founding chair of the university's Committee on Global Thought. He also chairs the University of Manchester's Brooks World Poverty Institute. He is a member of the Pontifical Academy of Social Sciences. In 2009, the President of the United Nations General Assembly Miguel d'Escoto Brockmann, appointed Stiglitz as the chairman of the U.N. Commission on Reforms of the International Monetary and Financial System, where he oversaw suggested proposals and commissioned a report on reforming the international monetary and financial system.[10] He served as chair of the international Commission on the Measurement of Economic Performance and Social Progress, appointed by President Sarkozy of France, which issued its report in 2010, Mismeasuring our Lives: Why GDP doesn't add up,[11] and currently serves as co-chair of its successor, the High Level Expert Group on the Measurement of Economic Performance and Social Progress. From 2011 to 2014, Stiglitz was president of the International Economic Association (IEA).[12] He presided over the organization of the IEA triennial world congress held near the Dead Sea in Jordan in June 2014.[13]
Stiglitz has received more than 40 honorary degrees, including from Cambridge and Harvard, and he has been decorated by several governments including Bolivia, Korea, Colombia, Ecuador, and most recently France, where he was appointed a member of the Legion of Honor, order Officer.
In 2011 Stiglitz was named by Time magazine as one of the 100 most influential people in the world.[14] Stiglitz's work focuses on income distribution from a Georgist perspective, asset risk management, corporate governance, and international trade. He is the author of several books, the latest being The Euro: How a Common Currency Threatens the Future of Europe (2016), The Great Divide: Unequal Societies and What We Can Do About Them (2015), Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity (2015), and Creating a Learning Society: A New Approach to Growth Development and Social Progress (2014).[15]
Contents
[hide]
1 Life and career
2 Contributions to economics
2.1 Risk aversion
2.2 Henry George theorem
2.3 Information asymmetry
2.4 Shapiro-Stiglitz efficiency wage model
2.5 Practical implications of Stiglitz theorems
3 Government
3.1 Clinton administration
3.2 Initiative for Policy Dialogue
3.3 Commission on the Measurement of Economic Performance and Social Progress
3.4 Commission of Experts on Reforms of the International Monetary and Financial System
3.5 Greek debt crisis
3.6 Scotland
3.7 Labour Party
4 Economic views
4.1 Support for anti-austerity movement in Spain
4.2 Criticism of rating agencies
4.3 Criticism of Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership
4.4 Regulation
4.5 Land value tax (Georgism)
4.6 Views on the eurozone
4.7 Views on free trade
4.7.1 Advice for the eurozone countries
4.7.2 Advice for United States
5 Books
5.1 The Euro: How a Common Currency Threatens the Future of Europe (2016)
5.2 The Great Divide: Unequal Societies and What We Can Do About Them (2015)
5.3 Creating a Learning Society: A New Approach to Growth, Development, and Social Progress (2014)
5.4 The Price of Inequality (2012)
5.5 Freefall (2010)
5.6 The Three Trillion Dollar War (2008)
5.7 Stability with Growth (2006)
5.8 Making Globalization Work (2006)
5.9 Fair Trade for All (2005)
5.10 New Paradigm for Monetary Economics (2003)
5.11 The Roaring Nineties (2003)
5.12 Globalization and Its Discontents (2002)
5.13 Whither Socialism? (1994)
5.14 Papers and conferences
6 Awards and honors
7 Personal life
8 Selected bibliography
8.1 Books
8.2 Book chapters
8.3 Selected scholarly articles
8.4 Articles in popular press
8.5 Video and online sources
8.6 Papers
9 See also
10 References
11 External links
Life and career[edit]
Stiglitz was born in Gary, Indiana, to Charlotte (née Fishman), a schoolteacher, and Nathaniel David Stiglitz, an insurance salesman.[16][17] Stiglitz graduated from Amherst College in 1964, where he was a highly active member of the debate team and president of the student government. During his senior year at Amherst College, he studied at the Massachusetts Institute of Technology (MIT), where he later pursued graduate work. From 1965 to 1966, he moved to the University of Chicago to do research under Hirofumi Uzawa who had received an NSF grant. He studied for his PhD from MIT from 1966 to 1967, during which time he also held an MIT assistant professorship. Stiglitz stated that the particular style of MIT economics suited him well, describing it as "simple and concrete models, directed at answering important and relevant questions."[18]
From 1966 to 1970 he was a research fellow at the University of Cambridge. Stiglitz initially arrived at Fitzwilliam College, Cambridge as a Fulbright Scholar in 1965, and he later won a Tapp Junior Research Fellowship at Gonville and Caius College, Cambridge which was instrumental in shaping his understanding of Keynes and macroeconomic theory.[19] In subsequent years, he held academic positions at Yale, Stanford, and Princeton.[20] Stiglitz is now a professor at Columbia University, with appointments at the Business School, the Department of Economics and the School of International and Public Affairs (SIPA), and is editor of The Economists' Voice journal with J. Bradford DeLong and Aaron Edlin.
He also gives classes for a double-degree program between Sciences Po Paris and École Polytechnique in 'Economics and Public Policy'. He has chaired The Brooks World Poverty Institute at the University of Manchester since 2005.[21][22] Stiglitz is widely considered a New-Keynesian economist,[23][24] although at least one economics journalist says his work cannot be so clearly categorised.[1]
In addition to making numerous influential contributions to macroeconomics, Stiglitz has played a number of policy roles. He served in the Clinton administration as the chair of the President's Council of Economic Advisers (1995–1997). At the World Bank, he served as senior vice-president and chief economist (1997–2000), in the time when unprecedented protest against international economic organizations started, most prominently with the Seattle WTO meeting of 1999. He was fired by the World Bank for expressing dissent with its policies.[25] He was a lead author of the 1995 Report of the Intergovernmental Panel on Climate Change, which shared the Nobel Peace Prize in 2007.[26]
He is a member of Collegium International,[27] an organization of leaders with political, scientific, and ethical expertise whose goal is to provide new approaches in overcoming the obstacles in the way of a peaceful, socially just and an economically sustainable world. He is also a member of the scientific committee of the Fundacion IDEAS, a Spanish think tank.[28]
Stiglitz has advised American president Barack Obama, but has also been sharply critical of the Obama Administration's financial-industry rescue plan.[29] Stiglitz said that whoever designed the Obama administration's bank rescue plan is "either in the pocket of the banks or they're incompetent."[30]
In October 2008, he was asked by the President of the United Nations General Assembly to chair a commission drafting a report on the reasons for and solutions to the financial crisis.[31] In response, the commission produced the Stiglitz Report.
On July 25, 2011, Stiglitz participated in the "I Foro Social del 15M" organized in Madrid (Spain) expressing his support to the 2011 Spanish protests.[32]
Stiglitz was the president of the International Economic Association from 2011 to 2014.[33]
On September 27, 2015, the United Kingdom Labour Party announced that Stiglitz was to sit on its Economic Advisory Committee along with five other world leading economists.
Contributions to economics[edit]
Stiglitz at a conference in Mexico in 2009
Risk aversion[edit]
After getting his PhD from M.I.T in 1967, Stiglitz co-authored one of his first papers with Michael Rothschild for the Journal of Economic Theory in 1970.[34] Stiglitz and Rothschild extrapolated on previous works by prominent economists such as Robert Solow to work on the concept of risk aversion, which is the behavior in humans to lower the uncertainty presented in the risk situation. Stiglitz and Rothschild's paper's primarily focus was on defining "When is a random variable 'Y' more variable than another random variable 'X'." In this mathematically complex paper, Stiglitz and Rothschild showed four plausible answers to this question, which led them to write the second paper, in which they analyzed the likely economic effects of increasing risk.[35] They examine an individual's return on savings, portfolio problem, portfolio-savings problem and a firm's production problem. These papers allowed Stiglitz to earn the John Bates Clark Medal in 1979.
Henry George theorem[edit]
Stiglitz made early contributions to a theory of public finance stating that an optimal supply of local public goods can be funded entirely through capture of the land rents generated by those goods (when population distributions are optimal). Stiglitz dubbed this the 'Henry George theorem' in reference to the radical classical economist Henry George who famously advocated for land value tax. The explanation behind Stiglitz's finding is that rivalry for public goods takes place geographically, so competition for access to any beneficial public good will increase land values by at least as much as its outlay cost. Furthermore, Stiglitz shows that a single tax on rents is necessary to provide the optimal supply of local public investment. Stiglitz also shows how the theorem could be used to find the optimal size of a city or firm.[36][37]
Information asymmetry[edit]
Stiglitz's most famous research was on screening, a technique used by one economic agent to extract otherwise private information from another. It was for this contribution to the theory of information asymmetry that he shared the Nobel Memorial Prize in Economics[18] in 2001 "for laying the foundations for the theory of markets with asymmetric information" with George A. Akerlof and A. Michael Spence.
Before the advent of models of imperfect and asymmetric information, the traditional neoclassical economics literature had assumed that markets are efficient except for some limited and well defined market failures. More recent work by Stiglitz and others reversed that presumption, to assert that it is only under exceptional circumstances that markets are efficient. Stiglitz has shown (together with Bruce Greenwald) that "whenever markets are incomplete and/or information is imperfect (which are true in virtually all economies), even competitive market allocation is not constrained Pareto efficient". In other words, they addressed "the problem of determining when tax interventions are Pareto-improving. The approach indicates that such tax interventions almost always exist and that equilibria in situations of imperfect information are rarely constrained Pareto optima."[38]:229, abstract Although these conclusions and the pervasiveness of market failures do not necessarily warrant the state intervening broadly in the economy, it makes clear that the "optimal" range of government recommendable interventions is definitely much larger than the traditional "market failure" school recognizes.[39] For Stiglitz, there is no such thing as an invisible hand, in the sense that free markets lead to efficiency as if guided by unseen forces.[40] According to Stiglitz:[41]
Whenever there are "externalities" – where the actions of an individual have impacts on others for which they do not pay or for which they are not compensated – markets will not work well. But recent research has shown that these externalities are pervasive, whenever there is imperfect information or imperfect risk markets – that is always.
The real debate today is about finding the right balance between the market and government. Both are needed. They can each complement each other. This balance will differ from time to time and place to place.
In an interview in 2007, Stiglitz explained further:[42]
The theories that I (and others) helped develop explained why unfettered markets often not only do not lead to social justice, but do not even produce efficient outcomes. Interestingly, there has been no intellectual challenge to the refutation of Adam Smith's invisible hand: individuals and firms, in the pursuit of their self-interest, are not necessarily, or in general, led as if by an invisible hand, to economic efficiency.
The preceding claim is based on Stiglitz 1986 paper, "Externalities in Economies with Imperfect Information and Incomplete Markets",[38] which describes a general methodology to deal with externalities and for calculating optimal corrective taxes in a general equilibrium context. In the opening remarks for his prize acceptance at Aula Magna,[43] Stiglitz said:[44]
I hope to show that Information Economics represents a fundamental change in the prevailing paradigm within economics. Problems of information are central to understanding not only market economics but also political economy, and in the last section of this lecture, I explore some of the implications of information imperfections for political processes.
Shapiro-Stiglitz efficiency wage model[edit]
Main article: Shapiro–Stiglitz theory
See also: Efficiency wages
In the Shapiro-Stiglitz model of efficiency wages, workers are paid at a level that dissuades shirking. This prevents wages from dropping to market clearing levels. Full employment cannot be achieved because workers would shirk if they were not threatened with the possibility of unemployment. Because of this, the curve for the no-shirking condition (labeled NSC) goes to infinity at full employment.
Stiglitz also did research on efficiency wages, and helped create what became known as the "Shapiro-Stiglitz model" to explain why there is unemployment even in equilibrium, why wages are not bid down sufficiently by job seekers (in the absence of minimum wages) so that everyone who wants a job finds one, and to question whether the neoclassical paradigm could explain involuntary unemployment.[45] The answer to these puzzles was proposed by Shapiro and Stiglitz in 1984: "Unemployment is driven by the information structure of employment".[45] Two basic observations undergird their analysis:
Unlike other forms of capital, humans can choose their level of effort.
It is costly for firms to determine how much effort workers are exerting.
A full description of this model can be found at the links provided.[46][47] Some key implications of this model are:
Wages do not fall enough during recessions to prevent unemployment from rising. If the demand for labour falls, this lowers wages. But because wages have fallen, the probability of 'shirking' (workers not exerting effort) has risen. If employment levels are to be maintained, through a sufficient lowering of wages, workers will be less productive than before through the shirking effect. As a consequence, in the model, wages do not fall enough to maintain employment levels at the previous state, because firms want to avoid excessive shirking by their workers. So, unemployment must rise during recessions, because wages are kept 'too high'.
Possible corollary: Wage sluggishness. Moving from one private cost of hiring (w∗) to another private cost of hiring (w∗∗) will require each firm to repeatedly re-optimize wages in response to shifting unemployment rate. Firms cannot cut wages until unemployment rises sufficiently (a coordination problem).
The outcome is never Pareto efficient.
Each firm employs too few workers because it faces private cost of hiring rather than the social cost – which is equal to and in all cases.[clarification needed] This means that firms do not "internalize" the "external" cost of unemployment – they do not factor how large-scale unemployment harms society when assessing their own costs. This leads to a negative externality as marginal social cost exceeds the firm's marginal cost (MSC = Firm's Private Marginal Cost + Marginal External Cost of increased social unemployment)[clarification needed]
There are also positive externalities: each firm increases the asset value of unemployment for all other firms when they hire during recessions. By creating hypercompetitive labor markets, all firms (the winners when laborers compete) experience an increase in value. However, this effect of increased valuation is very unapparent, because the first problem (the negative externality of sub-optimal hiring) clearly dominates since the 'natural rate of unemployment' is always too high.
Practical implications of Stiglitz theorems[edit]
While the mathematical validity of Stiglitz et al. theorems are not in question, their practical implications in political economy and their application in real life economic policies have been subject to disagreement and debate.[48] Stiglitz himself has evolved his political-economic discourse over time.[49]
Once incomplete and imperfect information are introduced, Chicago-school defenders of the market system cannot sustain descriptive claims of the Pareto efficiency of the real world. Thus, Stiglitz's use of rational-expectations equilibrium assumptions to achieve a more realistic understanding of capitalism than is usual among rational-expectations theorists leads, paradoxically, to the conclusion that capitalism deviates from the model in a way that justifies state action – socialism – as a remedy.[50]
The effect of Stiglitz's influence is to make economics even more presumptively interventionist than Samuelson preferred. Samuelson treated market failure as the exception to the general rule of efficient markets. But the Greenwald-Stiglitz theorem posits market failure as the norm, establishing "that government could potentially almost always improve upon the market's resource allocation." And the Sappington-Stiglitz theorem "establishes that an ideal government could do better running an enterprise itself than it could through privatization[51]
—  Stiglitz 1994, p. 179.[50]
Objections to the wide adoption of positions suggested by Stiglitz's discoveries do not come from economics itself, but mostly from political scientists, especially in the field of sociology. As David L. Prychitko discusses in his "critique" to Whither Socialism? (see below), although Stiglitz's main economic insight seems generally correct, it still leaves open great constitutional questions such as how the coercive institutions of the government should be constrained and what the relation is between the government and civil society.[52]
Government[edit]
Clinton administration[edit]
Stiglitz joined the Clinton Administration in 1993,[53] serving first as a member during 1993–1995, and was then appointed Chairman of the Council of Economic Advisers on June 28, 1995, in which capacity he also served as a member of the cabinet. He became deeply involved in environmental issues, which included serving on the Intergovernmental Panel on Climate Change, and helping draft a new law for toxic wastes (which was never passed).
Stiglitz's most important contribution in this period was helping define a new economic philosophy, a "third way", which postulated the important, but limited, role of government, that unfettered markets often did not work well, but that government was not always able to correct the limitations of markets. The academic research that he had been conducting over the preceding 25 years provided the intellectual foundations for this "third way".
When President Bill Clinton was re-elected, he asked Stiglitz to continue to serve as Chairman of the Council of Economic Advisers for another term. But he had already been approached by the World Bank to be its senior vice president for development policy and its chief economist, and he assumed that position after his CEA successor was confirmed on February 13, 1997.
As the World Bank began its ten-year review of the transition of the former Communist countries to the market economy it unveiled failures of the countries that had followed the International Monetary Fund (IMF) shock therapy policies – both in terms of the declines in GDP and increases in poverty – that were even worse than the worst that most of its critics had envisioned at the onset of the transition. Clear links existed between the dismal performances and the policies that the IMF had advocated, such as the voucher privatization schemes and excessive monetary stringency. Meanwhile, the success of a few countries that had followed quite different strategies suggested that there were alternatives that could have been followed. The US Treasury had put enormous pressure on the World Bank to silence his criticisms of the policies which they and the IMF had pursued.[54][55]
Stiglitz always had a poor relationship with Treasury Secretary Lawrence Summers.[56] In 2000, Summers successfully petitioned for Stiglitz's removal, supposedly in exchange for World Bank President James Wolfensohn's re-appointment – an exchange that Wolfensohn denies took place. Whether Summers ever made such a blunt demand is questionable – Wolfensohn claims he would "have told him to *** himself".[57]
Stiglitz resigned from the World Bank in January 2000, a month before his term expired.[55] The Bank's president, James Wolfensohn, announced Stiglitz's resignation in November 1999 and also announced that Stiglitz would stay on as Special Advisor to the President, and would chair the search committee for a successor.
Joseph E. Stiglitz said today [Nov. 24, 1999] that he would resign as the World Bank's chief economist after using the position for nearly three years to raise pointed questions about the effectiveness of conventional approaches to helping poor countries.[58]
In this role, he continued criticism of the IMF, and, by implication, the US Treasury Department. In April 2000, in an article for The New Republic, he wrote:
They'll say the IMF is arrogant. They'll say the IMF doesn't really listen to the developing countries it is supposed to help. They'll say the IMF is secretive and insulated from democratic accountability. They'll say the IMF's economic 'remedies' often make things worse – turning slowdowns into recessions and recessions into depressions. And they'll have a point. I was chief economist at the World Bank from 1996 until last November, during the gravest global economic crisis in a half-century. I saw how the IMF, in tandem with the U.S. Treasury Department, responded. And I was appalled.
The article was published a week before the annual meetings of the World Bank and IMF and provoked a strong response. It proved too strong for Summers and, yet more lethally, Stiglitz's protector-of-sorts at the World Bank, Wolfensohn. Wolfensohn had privately empathised with Stiglitz's views, but this time was worried for his second term, which Summers had threatened to veto.[citation needed] Stanley Fischer, deputy managing director of the IMF, called a special staff meeting and informed at that gathering that Wolfensohn had agreed to fire Stiglitz. Meanwhile, the Bank's External Affairs department told the press that Stiglitz had not been fired, his post had merely been abolished.[59]
In a September 19, 2008 radio interview, with Aimee Allison and Philip Maldari on Pacifica Radio's KPFA 94.1 FM in Berkeley, California, US, Stiglitz implied that President Clinton and his economic advisors would not have backed the North American Free Trade Agreement (NAFTA) had they been aware of stealth provisions, inserted by lobbyists, that they overlooked.
Initiative for Policy Dialogue[edit]
Main article: Initiative for Policy Dialogue
In July 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), with support of the Ford, Rockefeller, McArthur, and Mott Foundations and the Canadian and Swedish governments, to enhance democratic processes for decision-making in developing countries and to ensure that a broader range of alternatives are on the table and more stakeholders are at the table.
Commission on the Measurement of Economic Performance and Social Progress[edit]
At the beginning of 2008, Stiglitz chaired the Commission on the Measurement of Economic Performance and Social Progress, also known as the Stiglitz-Sen-Fitoussi Commission, initiated by President Sarkozy of France. The Commission held its first plenary meeting on April 22–23, 2008, in Paris. Its final report was made public on September 14, 2009.[60]
Commission of Experts on Reforms of the International Monetary and Financial System[edit]
Stiglitz at the World Economic Forum annual meeting in Davos, 2009
In 2009, Stiglitz chaired the Commission of Experts on Reforms of the International Monetary and Financial System which was convened by the President of the United Nations General Assembly "to review the workings of the global financial system, including major bodies such as the World Bank and the IMF, and to suggest steps to be taken by Member States to secure a more sustainable and just global economic order".[61] Its final report was released on September 21, 2009.[62][63]
Greek debt crisis[edit]
In 2010, Professor Stiglitz acted as an advisor to the Greek government during the Greek debt crisis. He appeared on Bloomberg TV for an interview on the risks of Greece defaulting, in which he stated that he was very confident that Greece would not default. He went on to say that Greece was under "speculative attack" and though it had "short-term liquidity problems... and would benefit from Solidarity Bonds", the country was "on track to meet its obligations".[citation needed]
The next day, during a BBC interview, Stiglitz stated that "there's no problem of Greece or Spain meeting their interest payments". He argued nonetheless, that it would be desirable and needed for all of Europe to make a clear statement of belief in social solidarity and that they "stand behind Greece". Confronted with the statement: "Greece's difficulty is that the magnitude of debt is far greater than the capacity of the economy to service", Stiglitz replied, "That's rather absurd".[citation needed]
In 2012, Stiglitz described the European austerity plans as a "suicide-pact".[64]
Scotland[edit]
Since March 2012, Stiglitz has been a member of the Scottish Government's Fiscal Commission Working Group, which oversees the work to establish a fiscal and macro economic framework for an independent Scotland on behalf of the Scottish Council of Economic Advisers.
Together with Professors Andrew Hughes Hallett, Sir James Mirrlees and Frances Ruane Stiglitz will "advise on the establishment of a credible Fiscal Commission which entrenches financial responsibility and ensures market confidence".[65]
Labour Party[edit]
In July 2015, Stiglitz endorsed Jeremy Corbyn's campaign in the Labour Party leadership election. He said: "I am not surprised at all that there is a demand for a strong anti-austerity movement around increased concern about inequality. The promises of New Labour in the UK and of the Clintonites in the US have been a disappointment."[66][67][68]
On September 27, 2015, it was announced that he had been appointed to the British Labour Party's Economic Advisory Committee, convened by Shadow Chancellor John McDonnell and reporting to Labour Party Leader Jeremy Corbyn,[69] although he reportedly failed to attend the first meeting.[70]
Economic views[edit]
Support for anti-austerity movement in Spain[edit]
On July 25, 2011, Stiglitz participated in the "I Foro Social del 15M" organized in Madrid (Spain) expressing his support for the anti-austerity movement in Spain.[32] During an informal speech, he made a brief review of some of the problems in Europe and in the United States, the serious unemployment rate and the situation in Greece. "This is an opportunity for economic contribution social measures", argued Stiglitz, who made a critical speech about the way authorities are handling the political exit to the crisis. He encouraged those present to respond to the bad ideas, not with indifference, but with good ideas. "This does not work, you have to change it", he said.
Criticism of rating agencies[edit]
Stiglitz has been critical of rating agencies, describing them as the "key culprit" in the financial crisis, noting "they were the party that performed the alchemy that converted the securities from F-rated to A-rated. The banks could not have done what they did without the complicity of the rating agencies."[71]
Stiglitz co-authored a paper with Peter Orszag in 2002 titled "Implications of the New Fannie Mae and Freddie Mac Risk-Based Capital Standard" where they stated "on the basis of historical experience, the risk to the government from a potential default on GSE debt is effectively zero." However, "the risk-based capital standard ... may fail to reflect the probability of another Great Depression-like scenario."[72]
Criticism of Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership[edit]
See also: Trans-Pacific Partnership § Response, and Transatlantic Trade and Investment Partnership § activism against TTIP
Stiglitz warned that the Trans-Pacific Partnership (TPP) presented "grave risks" and it "serves the interests of the wealthiest."[73][74]
Stiglitz also opposed the Transatlantic Trade and Investment Partnership (TTIP) trade deal between the European Union (EU) and the United States, and has argued that the United Kingdom should consider its withdrawal from the EU in the 2016 referendum on the matter if TTIP passes, saying that "the strictures imposed by TTIP would be sufficiently averse to the functioning of government that it would make me think over again about whether membership of the EU was a good idea".[75][76][77]
Regulation[edit]
Stiglitz argues that relying solely on business self-interest as the means of achieving the well-being of society and economic efficiency is misleading, and that instead "What is needed is stronger norms, clearer understandings of what is acceptable – and what is not – and stronger laws and regulations to ensure that those that do not behave in ways that are consistent with these norms are held accountable".[78]
Land value tax (Georgism)[edit]
Stiglitz argues that land value tax would improve the efficiency and equity of agricultural economies. Stiglitz believes that societies should rely on a generalized Henry George principle to finance public goods, protect natural resources, improve land use, and reduce the burden of rents and taxes on the poor while increasing productive capital formation. Stiglitz advocates taxing "natural resource rents at as close to 100 percent as possible" and that a corollary of this principle is that polluters should be taxed for "activities that generate negative externalities."[79] Stiglitz therefore asserts that land value taxation is even better than its famous advocate Henry George thought.[80]
Views on the eurozone[edit]
In a September 2016 interview Stiglitz stated that "the cost of keeping the Eurozone together probably exceeds the cost of breaking it up."[81]
Views on free trade[edit]
Advice for the eurozone countries[edit]
In the 1990s, he wrote that "rich countries in North America and Europe should eliminate all tariffs and quotas (protectionist measures)".[82] He now advises the eurozone countries to control their trade balance with Germany by means of export/import certificates or "trade chits" (a protectionist measure).[83][84][85]
Citing Keynesian theory, he explains that trade deficits are harmful: "John Maynard Keynes pointed out that surpluses lead to weak global aggregate demand – countries running surpluses exert a "negative externality" on trading partners. Indeed, Keynes believed it was surplus countries, far more than those in deficit, that posed a threat to global prosperity; he went so far as to advocate a tax on surplus countries".[86]
Stiglitz writes: "Germany's surplus means that the rest of Europe is in deficit. And the fact that these countries import more than they export contributes to the weakness of their economie". He thinks that surplus countries are getting richer at the expense of deficit countries. He notes that the euro is the cause of this deficit and that as the trade deficit declines GDP would rise and unemployment would fall: "The euro system means that Germany's exchange rate cannot increase compared to other euro area members. If the exchange rate were to rise, Germany would have more difficulty exporting and its economic model, based on strong exports, would cease. At the same time, the rest of Europe would export more, GDP would rise and unemployment would fall".[86]
He also thinks that the rest of the world should impose a carbon-adjustment tax (a protectionist measure) on American exports that do not comply with global standard.[87]
Advice for United States[edit]
Contrary to Keynesian theory and these analyses on the eurozone, he argues that the United States must continue to adapt to the "ever-changing realities of comparative advantage", must not rebalance the trade account and can no longer apply protectionist measures to protect or recreate the well-paying manufacturing jobs. The United States must simply agree to be the "losers", saying: "The very Americans who have been among the losers of globalization stand to be among the losers of a reversal of globalization. History cannot be put into reverse".[88]
However, contrary to these statements, he admits that as the trade deficit declines "GDP would rise and unemployment would fall", further stating: "Countries that import more than they export contributes to the weakness of their economie".[86] He notes that trade deficits caused by free trade destroy manufacturing jobs: the increase in the "value of the dollar will lead to larger trade deficits and fewer manufacturing jobs".[89] Moreover, even if according to him, the United States must not use protectionism, he admits that if manufacturing industry recovers through protectionists measures, skilled jobs would be created, even if they would be fewer and different from the manufacturing jobs lost in recent decades: "Advanced manufacturing technologies, including robots, mean that the few jobs created will require higher skills and will be placed in different locations from the jobs lost".[89]
Contrary to most economists historians, who argue that tariffs have played only a minor role or not at all in the Great Depression,[90][91][92] Stiglitz thinks that the United States should not protect its economy because tariffs contributed to the Great Depression: "Following that, U.S. exports fell by some 50 percent—contributing to our Great Depression".[88]
He denounces neoliberalism[93] and yet advises the United States to pursue free trade (deregulation or liberalization of foreign trade)[94] which is considered to be a constitutive policy of neoliberalism.[95]
According to him, it is not China (which has a large trade surplus) that makes "trade war", but the United States (which has a large trade deficit) if they try to rebalance trade account through tariffs. He defends China's trade surpluses at the expense of the United States and believes that China will "respond with strength and intelligence" and hit the United States "where it hurts economically and politically" if the United States try to protect their industry, saying: "For example, cutbacks in purchases by China will lead to more unemployment in congressional districts that are vulnerable, influential, or both.[88] [...] China can retaliate anywhere it chooses, such as by using trade restrictions to target jobs in the congressional districts of those who support US tariffs.[93] [...] China may be more effective in targeting its retaliation to cause acute political pain. [...] It's anybody's guess who can stand the pain better. Will it be the US, where ordinary citizens have already suffered for so long, or China, which, despite troubled times, has managed to generate growth in excess of 6%?".[96]
About China, he writes that the decline in exports is not prejudicial if China replaces "export dependence to a model of growth driven by domestic demand", therefore it is not the involvement in international trade per se that brings growth, but access to strong demand. Regarding the United States, he writes the opposite: "Walking away from globalization may reduce our imports, but it will also reduce exports in tandem. And, almost surely, jobs will be destroyed faster than they will be created: there may even be fewer net manufacturing jobs". If the United States tries to control the movement of goods, "they surely will lose".[88]
In early 2017, he wrote that "the American middle class is indeed the loser of globalization" and "China, with its large emerging middle class, is among the big beneficiaries of globalization".[88] However, he then changed his mind and argued that the fall in wages and the disappearance of well-paid jobs are not due to globalization, but are only inevitable collateral damage to the march of economic progress and technological innovation: "The United States can only push for advanced manufacturing, which requires higher skill sets and employs fewer people. Rising inequality, meanwhile, will continue [...]".[93] Finally, he changed his mind in late 2017 and wrote that the drop in wages is not a normal process and is solely due to the actions of multinational companies and not to the trade account imbalances between countries caused by free trade: "It was an agenda written by and for large multinational companies, at the expense of workers". So it is no longer the surplus countries that have benefited from free trade, but only companies.[89]
In 2016, he said he believes that the economic situation of the United States is critical: "As the economists Anne Case and Angus Deaton showed in their study published in December 2015, life expectancy among middle-age white Americans is declining, as rates of suicides, drug use, and alcoholism increase. A year later, the National Center for Health Statistics reported that life expectancy for the country as a whole has declined for the first time in more than 20 years.[93] [...] With the incomes of the bottom 90% having stagnated for close to a third of a century (and declining for a significant proportion), the health data simply confirmed that things were not going well for swaths of the country".[96] However, he changed his mind in 2017 and now thinks that the effect of globalization on the American economy is not so serious today: "Yes, America faces a variety of problems—it always has, and what nation doesn't?".[88]
Books[edit]
Along with his technical economic publications (he has published over 300 technical articles), Stiglitz is the author of books on issues from patent law to abuses in international trade.
The Euro: How a Common Currency Threatens the Future of Europe (2016)[edit]
The Great Divide: Unequal Societies and What We Can Do About Them (2015)[edit]
From the jacket: In The Great Divide, Joseph E. Stiglitz expands on the diagnosis he offered in his best-selling book The Price of Inequality and suggests ways to counter America's growing problem. Stiglitz argues that inequality is a choice – the cumulative result of unjust policies and misguided priorities.
Creating a Learning Society: A New Approach to Growth, Development, and Social Progress (2014)[edit]
Creating a Learning Society, (co authored with Bruce C. Greenwald), cast light on the significance of this insight for economic theory and policy. Taking as a starting point Kenneth J. Arrow's 1962 paper "Learning by Doing," they explain why the production of knowledge differs from that of other goods and why market economies alone typically do not produce and transmit knowledge efficiently. Closing knowledge gaps and helping laggards learn are central to growth and development. But creating a learning society is equally crucial if we are to sustain improved living standards in advanced countries.
The Price of Inequality (2012)[edit]
From the jacket: As those at the top continue to enjoy the best health care, education, and benefits of wealth, they often fail to realize that, as Joseph E. Stiglitz highlights, "their fate is bound up with how the other 99 percent live ... It does not have to be this way. In The Price of Inequality Stiglitz lays out a comprehensive agenda to create a more dynamic economy and fairer and more equal society"
The book received the Robert F. Kennedy Center for Justice and Human Rights 2013 Book Award, given annually to the book that "most faithfully and forcefully reflects Robert Kennedy's purposes – his concern for the poor and the powerless, his struggle for honest and even-handed justice, his conviction that a decent society must assure all young people a fair chance, and his faith that a free democracy can act to remedy disparities of power and opportunity."[97]
Freefall (2010)[edit]
Main article: Freefall: America, Free Markets, and the Sinking of the World Economy
In Freefall: America, Free Markets, and the Sinking of the World Economy, Stiglitz discusses the causes of the 2008 recession/depression and goes on to propose reforms needed to avoid a repetition of a similar crisis, advocating government intervention and regulation in a number of areas. Among the policy-makers he criticises are George W. Bush, Larry Summers, and Barack Obama.[98]
The Three Trillion Dollar War (2008)[edit]
The Three Trillion Dollar War (co-authored with Linda Bilmes) examines the full cost of the Iraq War, including many hidden costs. The book also discusses the extent to which these costs will be imposed for many years to come, paying special attention to the enormous expenditures that will be required to care for very large numbers of wounded veterans. Stiglitz was openly critical of George W. Bush at the time the book was released.[99]
Stability with Growth (2006)[edit]
In Stability with Growth: Macroeconomics, Liberalization and Development, Stiglitz, José Antonio Ocampo (United Nations Under-Secretary-General for Economic and Social Affairs, until 2007), Shari Spiegel (Managing Director, Initiative for Policy Dialogue – IPD), Ricardo Ffrench-Davis (Main Adviser, Economic Commission for Latin America and the Caribbean – ECLAC) and Deepak Nayyar (Vice Chancellor, University of Delhi) discuss the current debates on macroeconomics, capital market liberalization and development, and develop a new framework within which one can assess alternative policies. They explain their belief that the Washington Consensus has advocated narrow goals for development (with a focus on price stability) and prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabilize the economy and promote growth, and accepts that market imperfections necessitate government interventions. Policy-makers have pursued stabilization goals with little concern for growth consequences, while trying to increase growth through structural reforms focused on improving economic efficiency. Moreover, structural policies, such as capital market liberalization, have had major consequences for economic stability. This book challenges these policies by arguing that stabilization policy has important consequences for long-term growth and has often been implemented with adverse consequences. The first part of the book introduces the key questions and looks at the objectives of economic policy from different perspectives. The third part presents a similar analysis for capital market liberalization.
Making Globalization Work (2006)[edit]
Making Globalization Work surveys the inequities of the global economy, and the mechanisms by which developed countries exert an excessive influence over developing nations. Dr. Stiglitz argues that through tariffs, subsidies, an over-complex patent system and pollution, the world is being both economically and politically destabilised. Stiglitz argues that strong, transparent institutions are needed to address these problems. He shows how an examination of incomplete markets can make corrective government policies desirable.
Stiglitz is an exception to the general pro-globalisation view of professional economists, according to economist Martin Wolf.[100] Stiglitz argues that economic opportunities are not widely enough available, that financial crises are too costly and too frequent, and that the rich countries have done too little to address these problems. Making Globalization Work[101] has sold more than two million copies.
Fair Trade for All (2005)[edit]
In Fair Trade for All, authors Stiglitz and Andrew Charlton argue that it is important to make the trading world more development friendly.[102] The idea is put forth that the present regime of tariffs and agricultural subsidies is dominated by the interests of former colonial powers and needs to change. The removal of the bias toward the developed world will be beneficial to both developing and developed nations. The developing world is in needs of assistance, and this can only be achieved when developed nations abandon mercantilist based priorities and work towards a more liberal world trade regime.[103]
New Paradigm for Monetary Economics (2003)[edit]
The Roaring Nineties (2003)[edit]
The Roaring Nineties is Stiglitz' analysis of the boom and bust of the 1990s. Presented from an insider's point of view, firstly as chair of President Clinton's Council of Economic Advisors, and later as chief economist of the World Bank, it continues his argument on how misplaced faith in free-market ideology led to the global economic issues of today, with a perceptive focus on US policies.
Globalization and Its Discontents (2002)[edit]
In Globalization and Its Discontents, Stiglitz argues that what are often called "developing economies" are, in fact, not developing at all, and puts much of the blame on the IMF.
Stiglitz bases his argument on the themes that his decades of theoretical work have emphasized: namely, what happens when people lack the key information that bears on the decisions they have to make, or when markets for important kinds of transactions are inadequate or don't exist, or when other institutions that standard economic thinking takes for granted are absent or flawed. Stiglitz stresses the point: "Recent advances in economic theory" (in part referring to his own work) "have shown that whenever information is imperfect and markets incomplete, which is to say always, and especially in developing countries, then the invisible hand works most imperfectly." As a result, Stiglitz continues, governments can improve the outcome by well-chosen interventions. Stiglitz argues that when families and firms seek to buy too little compared to what the economy can produce, governments can fight recessions and depressions by using expansionary monetary and fiscal policies to spur the demand for goods and services. At the microeconomic level, governments can regulate banks and other financial institutions to keep them sound. They can also use tax policy to steer investment into more productive industries and trade policies to allow new industries to mature to the point at which they can survive foreign competition. And governments can use a variety of devices, ranging from job creation to manpower training to welfare assistance, to put unemployed labor back to work and cushion human hardship.
Stiglitz complains bitterly that the IMF has done great damage through the economic policies it has prescribed that countries must follow in order to qualify for IMF loans, or for loans from banks and other private-sector lenders that look to the IMF to indicate whether a borrower is creditworthy. The organization and its officials, he argues, have ignored the implications of incomplete information, inadequate markets, and unworkable institutions – all of which are especially characteristic of newly developing countries. As a result, Stiglitz argues, the IMF has often called for policies that conform to textbook economics but do not make sense for the countries to which the IMF is recommending them. Stiglitz seeks to show that these policies have been disastrous for the countries that have followed them.
Whither Socialism? (1994)[edit]
Whither Socialism? is based on Stiglitz's Wicksell Lectures, presented at the Stockholm School of Economics in 1990 and presents a summary of information economics and the theory of markets with imperfect information and imperfect competition, as well as being a critique of both free market and market socialist approaches (see Roemer critique, op. cit.). Stiglitz explains how the neoclassical, or Walrasian model ("Walrasian economics" refers to the result of the process which has given birth to a formal representation of Adam Smith's notion of the "invisible hand", along the lines put forward by Léon Walras and encapsulated in the general equilibrium model of Arrow–Debreu), may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the information economics established by the Greenwald–Stiglitz theorems.
One of the reasons Stiglitz sees for the critical failing in the standard neoclassical model, on which market socialism was built, is its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness.[104]
Papers and conferences[edit]
Stiglitz wrote a series of papers and held a series of conferences explaining how such information uncertainties may have influence on everything from unemployment to lending shortages. As the chairman of the Council of Economic Advisers during the first term of the Clinton Administration and former chief economist at the World Bank, Stiglitz was able to put some of his views into action. For example, he was an outspoken critic of quickly opening up financial markets in developing countries. These markets rely on access to good financial data and sound bankruptcy laws, but he argued that many of these countries didn't have the regulatory institutions needed to ensure that the markets would operate soundly.
Awards and honors[edit]
In addition to being awarded the Nobel Memorial prize, Stiglitz has over 40 honorary doctorates and at least eight honorary professorships as well as an honorary deanship.[105][106][107]
In 2011, he was named by Foreign Policy magazine on its list of top global thinkers.[108] In February 2012, he was awarded the Legion of Honor, in the rank of Officer, by the French ambassador in the United States François Delattre.[109] Stiglitz was elected a Foreign Member of the Royal Society (ForMemRS) in 2009.[110] Stiglitz was awarded the 2018 Sydney Peace Prize.[111]
Personal life[edit]
Stiglitz married Jane Hannaway in 1978; the couple later divorced.[112][113] He got married for the third time on October 28, 2004 to Anya Schiffrin, who works at the School of International and Public Affairs at Columbia University.[114] He has four children, Siobhan, Michael, Edward (Jed) and Julia as well as three grandchildren.
Selected bibliography[edit]
Books[edit]
Stiglitz, Joseph E.; Uzawa, Hirofumi (1969). Readings in the modern theory of economic growth. Cambridge, Massachusetts: The M.I.T. Press. ISBN 9780262190558.
Stiglitz, Joseph E.; Atkinson, Anthony B. (1980). Lectures on public economics. London New York: McGraw-Hill Book Co. ISBN 9780070841055.
Stiglitz, Joseph E.; Newbery, David M.G. (1981). The theory of commodity price stabilization: a study in the economics of risk. Oxford Oxford New York: Clarendon Press Oxford University Press. ISBN 9780198284178.
Stiglitz, Joseph E. (1989). The economic role of the state. Oxford, UK Cambridge, Massachusetts, US: Wiley-Blackwell. ISBN 9780631171355.
Stiglitz, Joseph E.; Boadway, Robin (1994). Economics and the Canadian economy. New York: W.W. Norton & Company. ISBN 9780393965117.
Stiglitz, Joseph E. (1994). Whither socialism?. Cambridge, Massachusetts, US: MIT Press. ISBN 9780262691826.
Stiglitz, Joseph E. (2000). Economics of the public sector (3rd ed.). New York: W.W. Norton & Company. ISBN 9780393966510.
Stiglitz, Joseph E.; Meier, Gerald M. (2001). Frontiers of development economics: the future in perspective. Washington, D.C. Oxford New York: World Bank Oxford University Press. ISBN 9780195215922.
Stiglitz, Joseph E.; Holzmann, Robert (2001). New ideas about old age security: toward sustainable pension systems in the 21st century. Washington, DC: World Bank. ISBN 9780821348222.
Stiglitz, Joseph E.; Yusuf, Shahid (2001). Rethinking the East Asia miracle. Washington, D.C. New York: World Bank Oxford University Press. ISBN 9780195216004.
Stiglitz, Joseph E. (author); Chang, Ha-Joon (editor) (2001). Joseph Stiglitz and the World Bank: the rebel within. London, England: Anthem Press. ISBN 9781898855538. CS1 maint: Extra text: authors list (link)
Stiglitz, Joseph E.; Sah, Raaj K. (1992). Peasants versus city-dwellers: taxation and the burden of economic development. Oxford New York: Clarendon Press Oxford University Press. ISBN 9780199253579. (Reprinted 2005.)
Stiglitz, Joseph E. (2002). Globalization and its discontents. New York: W.W. Norton & Company. ISBN 9780393051247.
Stiglitz, Joseph; Greenwald, Bruce (2003). Towards a new paradigm in monetary economics. The Raffaele Mattioli Lecture Series. Cambridge, UK and New York: Cambridge University Press. ISBN 9780521810340.
Stiglitz, Joseph E. (2003). The roaring nineties: a new history of the world's most prosperous decade. New York: W.W. Norton & Company. ISBN 9780393058529.
Stiglitz, Joseph E. (2004). The development round of trade negotiations in the aftermath of Cancún. London, UK: Commonwealth Secretariat. ISBN 9780850928013.
Stiglitz, Joseph E.; Charlton, Andrew (2005). Fair trade for all: how trade can promote development. Oxford New York: Oxford University Press. ISBN 9780199290901.
Stiglitz, Joseph E.; Walsh, Carl E. (2006). Economics (4th ed.). New York: W.W. Norton & Company. ISBN 9780393926224.
Stiglitz, Joseph E.; Walsh, Carl E. (2006). Principles of macroeconomics (4th ed.). New York: W. W. Norton & Company. ISBN 9780393926248.
Stiglitz, Joseph E.; Ocampo, José Antonio; Ffrench-Davis, Ricardo; Nayyar, Deepak; Spiegel, Shari (2006). Stability with growth: macroeconomics, liberalization and development. Oxford: Oxford University Press. ISBN 9780199288144.
Stiglitz, Joseph E. (2006). Making globalization work. New York: W.W. Norton & Company. ISBN 9780393061222.
Stiglitz, Joseph E.; Bilmes, Linda (2008). The three trillion dollar war: the true cost of the Iraq conflict. New York: W.W. Norton & Company. ISBN 9780393067019.
Stiglitz, Joseph E.; Ocampo, José Antonio; Griffith-Jones, Stephany (2010). Time for a visible hand: lessons from the 2008 world financial crisis. Oxford New York: Oxford University Press. ISBN 9780199578818.
Stiglitz, Joseph E. (2010). The Stiglitz report: reforming the international monetary and financial systems in the wake of the global crisis. New York, New York London: The New Press. ISBN 9781595585202.
Stiglitz, Joseph E.; Sen, Amartya; Fitoussi, Jean-Paul (2010). Mismeasuring our lives: why GDP doesn't add up: the report. New York: New Press Distributed by Perseus Distribution. ISBN 9781595585196.
Stiglitz, Joseph (2010). Freefall: America, free markets, and the sinking of the world economy. New York, NY: W.W. Norton & Company. ISBN 9780393338959.
Also as: Stiglitz, Joseph (2010). Freefall: free markets and the sinking of the global economy. London: Penguin. ISBN 9780141045122.
Stiglitz, Joseph E. (2012). The Price of Inequality: How Today's Divided Society Endangers Our Future. New York: W.W. Norton & Company. ISBN 9780393088694.
Stiglitz, Joseph; Greenwald, Bruce C. (2014). Creating a learning society: a new approach to growth, development, and social progress. New York: Columbia University Press. ISBN 9780231152143.
Stiglitz, Joseph E. (2015). The great divide: unequal societies and what we can do about them. New York: W.W. Norton & Company. ISBN 9780393248579.
Stiglitz, Joseph E.; Greenwald, Bruce C. (2015). Creating a learning society: a new approach to growth, development, and social progress. Columbia: Columbia University Press. ISBN 9780231175494.
Stiglitz, Joseph E. (2016). The Euro: And its Threat to the Future of Europe. Allen Lane. ISBN 9780241258156.
Book chapters[edit]
Stiglitz, Joseph E. (1989), "Principal and agent", in Eatwell, John; Milgate, Murray; Newman, Peter K., The New Palgrave: allocation, information, and markets, New York: Norton, ISBN 9780393958546.
Stiglitz, Joseph E. (1993), "Market socialism and neoclassical economics", in Bardhan, Pranab; Roemer, John E., Market socialism: the current debate, New York: Oxford University Press, ISBN 9780195080490.
Stiglitz, Joseph E. (2009), "Regulation and failure", in Moss, David A.; Cisternino, John A., New perspectives on regulation, Cambridge, Massachusetts: The Tobin Project, pp. 11–23, ISBN 9780982478806. Pdf version.
Stiglitz, Joseph E. (2009), "Simple formulae for optional income taxation and the measurement of inequality", in Kanbur, Ravi; Basu, Kaushik, Arguments for a better world: essays in honor of Amartya Sen | Volume I: Ethics, welfare, and measurement, Oxford New York: Oxford University Press, pp. 535–66, ISBN 9780199239115.
Selected scholarly articles[edit]
1970–1979
Stiglitz, Joseph E.; Rothschild, Michael (September 1970). "Increasing risk: I. a definition". Journal of Economic Theory. Elsevier. 2 (3): 225–43. doi:10.1016/0022-0531(70)90038-4.
Stiglitz, Joseph E.; Rothschild, Michael (March 1971). "Increasing risk: II. Its economic consequences". Journal of Economic Theory. Elsevier. 3 (1): 66–84. doi:10.1016/0022-0531(71)90034-2.
Stiglitz, Joseph E. (May 1974). "Alternative theories of wage determination and unemployment in LDC's: the labor turnover model". The Quarterly Journal of Economics. Oxford Journals. 88 (2): 194–227. doi:10.2307/1883069.
Stiglitz, Joseph E. (April 1974). "Incentives and risk sharing in sharecropping". Review of Economic Studies. Oxford Journals. 41 (2): 219–55. doi:10.2307/2296714.
Stiglitz, Joseph E.; Rothschild, Michael (November 1976). "Equilibrium in competitive insurance markets: an essay on the economics of imperfect information". The Quarterly Journal of Economics. Oxford Journals. 90 (4): 629–49. doi:10.2307/1885326.
Stiglitz, Joseph E.; Dixit, Avinash K. (June 1977). "Monopolistic competition and optimum product diversity". The American Economic Review. American Economic Association via JSTOR. 67 (3): 297–308. JSTOR 1831401.
Stiglitz, Joseph E.; Newbery, David M.G. (December 1979). "The theory of commodity price stabilisation rules: welfare impacts and supply responses". The Economic Journal. Royal Economic Society via JSTOR. 89 (356): 799–817. doi:10.2307/2231500.
1980–1989
Stiglitz, Joseph E.; Weiss, Andrew (June 1981). "Credit rationing in markets with imperfect information". The American Economic Review. American Economic Association via JSTOR. 71 (3): 393–410. JSTOR 1802787. Pdf version.
Stiglitz, Joseph E.; Weiss, Andrew (1983). "Incentive Effects of Terminations: Applications to the Credit and Labor Markets". American Economic Review. 73 (5): 912–927.
Stiglitz, Joseph E.; Newbery, David M.G. (January 1984). "Pareto inferior trade". Review of Economic Studies. Oxford Journals. 51 (1): 1–12. doi:10.2307/2297701.
Stiglitz, Joseph E. (March 1987). "The causes and consequences of the dependence of quality on price". The American Economic Review. American Economic Association via JSTOR. 25 (1): 1–48. JSTOR 2726189.
1990–1999
Stiglitz, Joseph E.; Greenwald, Bruce (Winter 1993). "New and old Keynesians". The Journal of Economic Perspectives. American Economic Association. 7 (1): 23–44. doi:10.1257/jep.7.1.23.
Stiglitz, Joseph E. (Winter 1993). "Post Walrasian and Post Marxian economics". The Journal of Economic Perspectives. American Economic Association. 7 (1): 109–14. doi:10.1257/jep.7.1.109.
Stiglitz, Joseph E. (August 1996). "Some lessons from the East Asian miracle". World Bank Research Observer. World Bank. 11 (2): 151–77. doi:10.1093/wbro/11.2.151.
Stiglitz, Joseph E.; Uy, Marilou (August 1996). "Financial markets, public policy, and the East Asian miracle". World Bank Research Observer. World Bank. 11 (2): 249–76. doi:10.1093/wbro/11.2.249.
Stiglitz, Joseph E. (September 1997). "Georgescu-Roegen versus Solow/Stiglitz". Ecological Economics. ScienceDirect. 22 (3): 269–70. doi:10.1016/S0921-8009(97)00092-X.
See also: Nicholas Georgescu-Roegen and Robert Solow
Stiglitz, Joseph E. (March 1998). "Redefining the role of the state – What should it do? How should it do it? And how should these decisions be made?". Paper presented at the Tenth Anniversary of MITI Research Institute, Tokyo. Pdf version.
Also as: Stiglitz, Joseph E. (2001), "Redefining the role of the state – What should it do? How should it do it? And how should these decisions be made?", in Stiglitz, Joseph E. (author); Chang, Ha-Joon (editor), Joseph Stiglitz and the World Bank: the rebel within, London, England: Anthem Press, pp. 94–126, ISBN 9781898855538. CS1 maint: Extra text: editors list (link)
2000–2009
Stiglitz, Joseph E. (Spring 1998). "Distinguished lecture on economics in government: the private uses of public interests: incentives and institutions". The Journal of Economic Perspectives. American Economic Association. 12 (2): 3–22. doi:10.1257/jep.12.2.3.
Stiglitz, Joseph E. (May 18, 2007). "Prizes, not patents". Post-Autistic Economics Review. World Economics Association. 42: 48–50.
2010 onwards
Stiglitz, Joseph E. (May 28, 2014). "Reforming taxation to promote growth and equity". White paper. Roosevelt Institute. Pdf version.
Articles in popular press[edit]
Stiglitz, Joseph E. "Joseph E. Stiglitz". Project Syndicate. Retrieved October 29, 2013.
various articles from 2001 onwards.
Stiglitz, Joseph E. (17 April 2000). "What I learned at the world economic crisis: the insider" (pdf). The New Republic. Chris Hughes.
See also: Wade, Robert (January–February 2001). "Showdown at the World Bank". New Left Review. New Left Review. II (7): 124–37.
Stiglitz, Joseph E.; Orszag, Peter R.; Orszag, Jonathan M. (March 2, 2002). "Implications of the new Fannie Mae and Freddie Mac risk-based capital standard" (PDF). Fannie Mae Press. Fannie Mae. I (2): 1–10. Archived from the original (Pdf) on November 22, 2009.
Stiglitz, Joseph E. (Fall 2003). "Information and the change in the paradigm in economics, part 1". The American Economist. Omicron Delta Epsilon. 47 (2): 6–26. doi:10.1177/056943450304700202. JSTOR 25604277.
Stiglitz, Joseph E. (Spring 2004). "Information and the change in the paradigm in economics, part 2". The American Economist. Omicron Delta Epsilon. 48 (1): 17–49. doi:10.1177/056943450404800103. JSTOR 25604291.
Stiglitz, Joseph E. (December 2007). "The economic consequences of Mr. Bush". Vanity Fair. Condé Nast.
Stiglitz, Joseph E.; Bilmes, Linda J. (January 2009). "Report: the $10 trillion hangover: paying the price for eight years of Bush". Harper's Magazine. Harper's Magazine Foundation. 318 (1904). Non-subscription version.
Stiglitz, Joseph E. (January 2009). "Capitalist fools". Vanity Fair. Condé Nast.
Stiglitz, Joseph (June 12, 2009). "America's socialism for the rich". The Guardian. London.
Stiglitz, Joseph E. (July 2009). "Wall Street's toxic message". Vanity Fair. Condé Nast.
Stiglitz, Joseph E. (April 22, 2010). "The Non-Existent Hand". London Review of Books. 32 (8): 17–18. Retrieved February 14, 2011.
Review of the book: Skidelsky, Robert (2009). Keynes: the return of the master. Allen Lane. ISBN 9781846142581.
Stiglitz, Joseph E. (May 2011). "Of the 1%, by the 1%, for the 1%". Vanity Fair. Condé Nast.
Stiglitz, Joseph E. (July 12, 2011). "The ideological crisis of Western capitalism". Social Europe.
Stiglitz, Joseph E. (January 2013). "The post-crisis crises". CFO Insight Magazine. Euro Treasurer.
Stiglitz, Joseph E. (April 2013). "The promise of abenomics". CFO Insight Magazine. Euro Treasurer.
Stiglitz, Joseph E. (January 2015). "The Chinese Century". Vanity Fair. Condé Nast.
Stiglitz, Joseph E. (June 29, 2015). "Joseph Stiglitz: how I would vote in the Greek referendum". The Guardian. Guardian Media Group.
Video and online sources[edit]
Stiglitz, Joseph E. (2007). Committee hearing (via YouTube) (Speech). World Bank & Global Poverty, House Financial Services Committee (C-SPAN). Washington, D.C. Retrieved October 29, 2014.
Stiglitz, Joseph E. (presenter); Sarasin, Jacques (director) (May 2007). "1–5". Where is the world going, Mr. Stiglitz?. New York: First Run Features. Five-part series on two DVD discs.
Stiglitz, Joseph E. (presenter); Sarasin, Jacques (director) (March 2009). Around the world with Joseph Stiglitz. Arte France / Les Productions Faire Bleu / Swan productions. Original French title Le monde selon Stiglitz.
Stiglitz, Joseph E.; Bilmes, Linda (February 28, 2008). The three trillion dollar war. Panel discussion regarding their new book. Columbia University.
Book details: Stiglitz, Joseph E.; Bilmes, Linda (2008). The three trillion dollar war: the true cost of the Iraq conflict. New York: W.W. Norton & Company. ISBN 9780393067019.
Stiglitz, Joseph E. (February 9, 2010). "Bloomberg News" (Video) (YouTube). Interview with Andrea Catherwood. Retrieved October 29, 2014. Stiglitz says EU should defend Greece from speculators
Stiglitz, Joseph E. (guest); Hendry, Hugh (guest); Casajuana, Carlos (guest) (February 9, 2010). "Newsnight" (Video) (BBC). Interview with Emily Maitlis. Retrieved October 29, 2014. What should Europe do about Greece?
Stiglitz, Joseph E. (February 9, 2010). "Bloomberg News" (Video) (YouTube). Interview with Andrea Catherwood. Retrieved October 29, 2014. Stiglitz says EU should defend Greece from speculators
Stiglitz, Joseph E. (August 21, 2014). Inequality, wealth, and growth: why capitalism is failing (Speech). 5th Lindau Meeting on Economic Sciences. Lake Constance, Germany: Lindau Nobel Laureate Meetings. Retrieved October 29, 2014.
Papers[edit]
Online access to Stiglitz published papers, at his own website.
See also[edit]
Atkinson–Stiglitz theorem
List of economists
References[edit]
^ Jump up to: a b Smith, Noah (13 January 2017). "Tribal warfare in economics a thing of the past". The Australian Financial Review. Fairfax Media. Bloomberg. Look on the Wikipedia pages of economists Joseph Stiglitz and Greg Mankiw or any of a number of prominent economists. On the sidebar on the right, you'll see an entry for "school or tradition". Both Stiglitz and Mankiw are listed as "New Keynesian". That makes absolutely no sense whatsoever. Stiglitz and Mankiw's research is in totally different areas. Stiglitz did work on asymmetric information, efficiency wages, land taxes and a host of other microeconomic phenomena ... Nor are their policy positions even remotely similar – Stiglitz is a hero to the left, while Mankiw is a small-government conservative. In fact, Mankiw did important research on some models called "New Keynesian". Stiglitz did not.
Jump up ^ Stiglitz, Joseph E. (1966). Studies in the Theory of Economic Growth and Income Distribution (PDF) (Ph.D.). MIT. p. 4. Retrieved 8 November 2016.
Jump up ^ "Joseph E. Stiglitz – Biographical." NobelPrize.org, https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2001/stiglitz-bio.html, Accessed 24 September 2017.
Jump up ^ "Joseph Stiglitz, Clark Medalist 1979." American Economic Association, https://www.aeaweb.org/about-aea/honors-awards/bates-clark/joseph-stiglitz, 24 September 2017.
Jump up ^ "Former Chief Economists". worldbank.org. World Bank.
Jump up ^ "Former Members of the Council". whitehouse.gov. Archived from the original on 2012-10-23.
Jump up ^ Gochenour, Zachary, and Bryan Caplan. "An entrepreneurial critique of Georgism." The Review of Austrian Economics 26.4 (2013): 483–491.
Jump up ^ Orszag, Peter (March 3, 2015). "To Fight Inequality, Tax Land". Bloomberg View. Retrieved 12 November 2016.
Jump up ^ Lucas, Edward. "Land-value tax: Why Henry George had a point". The Economist. Retrieved 12 November 2016.
Jump up ^ "The Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System". un.org. United Nations.
Jump up ^ Stiglitz, Joseph E.; Sen, Amartya; Fitoussi, Jean-Paul (2010-05-18). Mismeasuring Our Lives: Why GDP Doesn't Add Up. The New Press. ISBN 9781595585196.
Jump up ^ "The International Economics Association". International Economics Association. October 14, 2013.
Jump up ^ "IEA World Congress 2014". International Economics Association. October 14, 2013. Archived from the original on October 17, 2013.
Jump up ^ Brown, Gordon (April 21, 2011). "The 2011 TIME 100". time.com.
Jump up ^ Taylor, Ihsan. "Best Sellers – The New York Times". Nytimes.com. Retrieved October 29, 2013.
Jump up ^ "International Who's who of Authors and Writers". 2008.
Jump up ^ "Stiglitz, Joseph E. 1943– (Joseph Eugene Stiglitz)". encyclopedia.com. Cengage Learning.
^ Jump up to: a b "Joseph E. Stiglitz: The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2001". Nobelprize.org. February 9, 1943. Retrieved October 29, 2013.
Jump up ^ "A shilling in the meter and a penny for your thoughts ... An Interview with Professor Joseph E Stiglitz" (PDF). Optima. 2005. Archived from the original (PDF) on October 14, 2011. Retrieved April 27, 2011.
Jump up ^ Stiglitz, Joseph. CV (PDF). Columbia University. Archived from the original (pdf) on 2011-05-13.
Jump up ^ "Staff: Professor Joseph E Stiglitz". manchester.ac.uk. University of Manchester. Archived from the original on 12 January 2007.
Jump up ^ "Master Economics and Public Policy". sciences-po.fr. Edudier à Sciences Po. Archived from the original on 2009-10-15.
Jump up ^ Bruce C. Greenwald & Joseph E. Stiglitz: Keynesian, New Keynesian and New Classical Economics. Oxford Economics Papers, 39, March 1987, pp. 119–33. (PDF; 1,62 MB) Archived 2011-05-13 at the Wayback Machine.
Jump up ^ Bruce C. Greenwald & Joseph E. Stiglitz: Examining Alternative Macroeconomic Theories. Brookings Papers on Economic Activity, No. 1, 1988, pp. 201–70. (PDF; 5.50 MB) Archived 2011-05-13 at the Wayback Machine.
Jump up ^ Greg Palast (October 10, 2001). "multi-day interview with Greg Palast". Gregpalast.com. Retrieved October 29, 2013.
Jump up ^ "Joseph Stiglitz – former World Bank Chief Economist". Retrieved 25 May 2017.
Jump up ^ Composition. "Collegium-International." Accessed on: November 21, 2017, Retrieved from:http://www.collegium-international.org/en/component/content/article/107-about/192-history.html"
Jump up ^ Fundación Ideas. "Comité Científico". Archived from the original on July 4, 2011. Retrieved May 8, 2011.
Jump up ^ Stiglitz, Joseph E. (March 31, 2009). "Obama's Ersatz Capitalism". The New York Times. Retrieved April 2, 2009.
Jump up ^ "Stiglitz Says Ties to Wall Street Doom Bank Rescue". Bloomberg News. April 17, 2009. Retrieved April 18, 2009.
Jump up ^ "Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System". un.org. United Nations.
^ Jump up to: a b "Joseph Stiglitz apoya el movimiento 15-M". Retrieved July 26, 2011.
Jump up ^ "International Economic Association (IEA)". Iea-world.com. Archived from the original on May 18, 2013. Retrieved October 29, 2013.
Jump up ^ Stiglitz, Joseph E. and Michael Rothschild. "Increasing Risk I. A Definition." Journal of Economic Theory, Vol. 2, No. 3, Sept. 1970, pp. 225-243. Accessed 24 September 2017.
Jump up ^ Stiglitz, Joseph E. and Michael Rothschild. "Increasing Risk II. Its economic consequences." Journal of Economic Theory, Vol. 3, No. 1, March 1971, pp. 66-84. Accessed 24 September 2017.
Jump up ^ Richard J. Arnott & Joseph E. Stiglitz, 1979. "Aggregate Land Rents, Expenditure on Public Goods, and Optimal City Size," The Quarterly Journal of Economics, Oxford University Press, vol. 93(4), pages 471–500.
Jump up ^ Stiglitz, J.E. (1977) The theory of local public goods. In: Feldstein, M.S. and R.P. Inman (eds.) The Economics of Public Services. MacMillan, London, pp. 274–333.
^ Jump up to: a b Stiglitz, Joseph E.; Greenwald, Bruce C. (May 1986). "Externalities in economies with imperfect information and incomplete markets". Quarterly Journal of Economics. Oxford University Press via JSTOR. 101 (2): 229–64. doi:10.2307/1891114. JSTOR 1891114. PDF; 2.96 MB Archived 2011-05-13 at the Wayback Machine.
Jump up ^ "Wang, Shaoguang. The State, Market Economy, and Transition. Department of Political Science, Yale University" (PDF). Retrieved October 29, 2013.
Jump up ^ Stiglitz, Joseph (December 20, 2002). "There is no invisible hand". The Guardian Comment. London: Guardian Media Group. Retrieved October 29, 2013.
Jump up ^ Altman, Daniel (October 11, 2006). "Q & Answers with Joseph E. Stiglitz". Managing Globalization (blog) The International Herald Tribune. Archived from the original on 26 June 2009.
Jump up ^ "Stiglitz, Joseph E. The pact with the devil. Beppe Grillo's Friends interview". Beppegrillo.it. Retrieved October 29, 2013.
Jump up ^ "Stiglitz, Joseph E. Prize Lecture: Information and the Change in the Paradigm in Economics. Joseph E. Stiglitz held his Prize Lecture December 8, 2001, at Aula Magna, Stockholm University. He was presented by Lars E.O. Svensson, Chairman of the Prize Committee". Nobelprize.org. December 8, 2001. Retrieved October 29, 2013.
Jump up ^ Stiglitz, Aula Magna
^ Jump up to: a b Stiglitz, Joseph E.; Shapiro, Carl (June 1984). "Equilibrium unemployment as a worker discipline device". The American Economic Review. American Economic Association via JSTOR. 74 (3): 433–44. JSTOR 1804018.
Jump up ^ "Lecture 4" (PDF). coin.wne.uw.edu.pl. May 22, 2007.
Jump up ^ "Efficiency wages, the Shapiro-Stiglitz Model" (PDF). Retrieved October 29, 2013.
Jump up ^ "Consensus, dissensus, confusion: the `Stiglitz Debate' in perspective". Archived from the original on 2007-04-22. Retrieved 2007-08-03. CS1 maint: BOT: original-url status unknown (link)
Jump up ^ Friedman, Benjamin M. (August 15, 2002). "Globalization: Stiglitz's Case". Nybooks.com. The New York Review of Books, Volume 49, Number 13. Retrieved October 29, 2013.
^ Jump up to: a b Boettke, Peter J. "What Went Wrong with Economics?, Critical Review Vol. 11, No. 1, pp. 35, 58" (PDF). Retrieved October 29, 2013.
Jump up ^ "Privatization, Information and Incentives" (PDF). Archived from the original on 2006-05-18. Retrieved 2007-05-15. CS1 maint: BOT: original-url status unknown (link)
Jump up ^ "Whither Socialism?". Archived from the original on 1997-06-07. Retrieved 2007-09-26. CS1 maint: BOT: original-url status unknown (link)
Jump up ^ "Brief Biography of Joseph E. Stiglitz". columbia.edu. Columbia University. Archived from the original on 2011-08-29.
Jump up ^ Wade, Robert (January–February 2001). "Showdown at the World Bank". New Left Review. New Left Review. II (7): 124–37.
^ Jump up to: a b Hage, Dave (October 11, 2000). "Joseph Stiglitz: A Dangerous Man, A World Bank Insider Who Defected". Star Tribune. Minneapolis: Commondreams.org. Archived from the original on August 14, 2013. Retrieved October 29, 2013.
Jump up ^ Hirsh, Michael (18 July 2009). "Why Washington ignores an economic prophet". Newsweek. Newsweek LLC.
Jump up ^ Mallaby, The World's Banker, p. 266.
Jump up ^ Stevenson, Richard W. (November 25, 1999). "Outspoken chief economist leaving World Bank". The New York Times. The New York Times Company. Retrieved October 29, 2013.
Jump up ^ Wade, Robert. US hegemony and the World Bank: Stiglitz's firing and Kanbur's resignation (PDF). UC Berkeley. Archived from the original (pdf) on 29 May 2008.
Jump up ^ "Stiglitz documentation". Commission on the Measurement of Economic Performance and Social Progress. September 14, 2009. Archived from the original on 20 July 2015.
Jump up ^ "Terms of Reference Commission of Experts of the President of the United Nations General Assembly on Reforms of the International Monetary and Financial System". Retrieved May 27, 2009.
Jump up ^ The Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System, UN General Assembly
Jump up ^ NGLS. "Commission of Experts on Reforms of the International Monetary and Financial System, official site". Un-ngls.org. Retrieved October 29, 2013.
Jump up ^ Moore, Malcolm (Jan 17, 2012). "Stiglitz says European austerity plans are a 'suicide pact'". Telegraph. London. Retrieved April 26, 2012.
Jump up ^ Staff writer (25 March 2012). "Fiscal Commission Working Group". The Scottish Government. Archived from the original on 1 February 2013.
Jump up ^ Macalister, Terry (26 July 2015). "Joseph Stiglitz: unsurprising Jeremy Corbyn is a Labour leadership contender". The Guardian. Retrieved 15 July 2017.
Jump up ^ Segalov, Michael (27 July 2015). "Jeremy Corbyn is favourite for Labour leadership because party has 'wimped out', says Nobel Prize winner Joseph Stiglitz". The Independent. Retrieved 15 July 2017.
Jump up ^ Papadopoullos, Chris (27 July 2015). "Economist Joseph Stiglitz not shocked by Labour lurch: The rise of Jeremy Corbyn gets a big supporter". City A.M. Retrieved 15 July 2017.
Jump up ^ "Labour announces new Economic Advisory Committee". Labour Press. 27 September 2015. Retrieved 11 March 2016.
Jump up ^ Chakelian, Anoosh (27 January 2016). ""Labour must get real about the economy": is Corbyn's economic advisory board unravelling?". New Statesman. Retrieved 11 March 2016.
Jump up ^ Neate, Rupert (August 22, 2011). "Ratings agencies suffer 'conflict of interest', says former Moody's boss". The Guardian. London. Retrieved April 21, 2012.
Jump up ^ "Implications of the New Fannie Mae and Freddie Mac Risk-Based Capital Standard" (PDF). Fannie Mae. Archived from the original (PDF) on November 22, 2009. Retrieved February 10, 2010.
Jump up ^ "Secrecy surrounds Trans-Pacific Partnership talks". Sydney Morning Herald. December 9, 2013. Retrieved December 9, 2013.
Jump up ^ Stiglitz, Joseph E. (March 15, 2014). "On the Wrong Side of Globalization". New York Times. Retrieved March 17, 2014.
Jump up ^ Simons, Ned (2 March 2016). "UK Should Consider Brexit If EU Signs TTIP, Suggests Labour Economics Adviser Joseph Stiglitz". The Huffington Post. Retrieved 14 March 2016.
Jump up ^ Sheffield, Hazel (2 March 2016). "EU referendum: UK could be better off leaving if TTIP passes, Joseph Stiglitz says". The Independent. Retrieved 14 March 2016.
Jump up ^ "Brexit better for Britain than toxic TTIP, says Joseph Stiglitz". RT UK. 3 March 2016. Retrieved 14 March 2016.
Jump up ^ Stiglitz, Joseph (24 December 2013). "Ethiopia: Do Human Rights Make Economic Sense?" – via AllAfrica.
Jump up ^ Cleveland, M. M. (2012). "The Economics of Henry George: A Review Essay" (PDF). American Journal of Economics and Sociology. 71: 498–511. doi:10.1111/j.1536-7150.2012.00832.x.
Jump up ^ Stiglitz, Joseph; Presentation at a Institute for New Economic Thinking conference on Apr 8, 2015 https://www.youtube.com/watch?v=Fg6UwAQJUVo
Jump up ^ Photiadou, Artemis; Brown, Stuart (5 September 2016). "Interview with Joseph Stiglitz: "The cost of keeping the Eurozone together probably exceeds the cost of breaking it up"". blogs.lse.ac.uk. London School of Economics.
Jump up ^ "Joseph Stiglitz -- A Dangerous Man, A World Bank Insider Who Defected". 14 August 2013. Archived from the original on 14 August 2013.
Jump up ^ "Euro, Economics – TheTLS". www.the-tls.co.uk.
Jump up ^ Stiglitz, Joseph E. (16 August 2016). "The Euro: How a Common Currency Threatens the Future of Europe". W. W. Norton & Company – via Google Books.
Jump up ^ Bounader, Lahcen (31 December 2016). "Lahcen Bounader's weblog: A Critical Issue Adressed to Joseph Stiglitz".
^ Jump up to: a b c Stiglitz, Joseph (5 May 2010). "Reform the euro or bin it - Joseph Stiglitz". the Guardian.
Jump up ^ Stiglitz, Joseph (2 June 2017). "How to respond to Trump's America - Joseph Stiglitz". the Guardian.
^ Jump up to: a b c d e f Stiglitz, Joseph E. "Trump's Most Chilling Economic Lie".
^ Jump up to: a b c Stiglitz, Joseph E. (5 December 2017). "The Globalization of Our Discontent by Joseph E. Stiglitz".
Jump up ^ "The Mitt-Hawley Fallacy".
Jump up ^ Temin, Peter (8 October 1991). "Lessons from the Great Depression". MIT Press – via Google Books.
Jump up ^ Irwin, Douglas A. (24 October 2017). "Peddling Protectionism: Smoot-Hawley and the Great Depression". Princeton University Press – via Google Books.
^ Jump up to: a b c d Stiglitz, Joseph E. (30 December 2016). "Joseph Stiglitz - The age of Donald Trump".
Jump up ^ Staff, Investopedia (3 April 2010). "Trade Liberalization".
Jump up ^ Goldstein, Natalie (23 June 2010). "Globalization and Free Trade". Infobase Publishing – via Google Books.
^ Jump up to: a b Stiglitz, Joseph (9 January 2017). "My new year forecast: Trumpian uncertainty, and lots of it". the Guardian.
Jump up ^ "Book Award". RFKcenter.org. Archived from the original on 2015-06-19.
Jump up ^ Krupa, Joel (June 7, 2010). "Guiding the Invisible Hand". Retrieved December 28, 2010.
Jump up ^ Perry, Kevin (March 4, 2008). "Joseph Stiglitz interview about The Three Trillion Dollar War". London: The Beaver. Retrieved September 29, 2010.
Jump up ^ "Why Globalization Works" (Yale University Press 2004) ISBN 978-0-300-10252-9, p. 8. Also Wolf criticizes World Bank heavily (pp. xiii–xv).
Jump up ^ see Stiglitz discuss his book on YouTube
Jump up ^ Blandford, David. "review of Fair Trade for All, by J.E. Stiglitz and Andrew Charlton". American Journal of Agricultural Economics. 90 (2): 2008.
Jump up ^ Northcott, Michael S. "review of Fair Trade For All by J.E. Stiglitz and Andrew Charlton". Studies in World Christianity. 12 (3): 2006.
Jump up ^ Zapia, Carlo. "The economics of information, market socialism and Hayek's legacy" (PDF). Dipartimento di Economia Politica, Università di Siena. Archived from the original (PDF) on June 14, 2007. Retrieved October 29, 2013.
Jump up ^ Curriculum Vitae Archived 2011-05-13 at the Wayback Machine., Joseph E. Stiglitz
Jump up ^ "Durham University Business School recognises Nobel Laureate winning economist". Durham University. September 23, 2005.
Jump up ^ "CERGE-EI | Executive and Supervisory Committee | Governance Bodies | People". Cerge-ei.cz. Retrieved October 29, 2013.
Jump up ^ "The FP Top 100 Global Thinkers". Foreign Policy. Archived from the original on December 21, 2013. Retrieved October 29, 2013.
Jump up ^ "Stephen Emerson and Joseph Stiglitz awarded the Légion d'Honneur – France in the United States/ Embassy of France in Washington". Ambafrance-us.org. Retrieved October 29, 2013.
Jump up ^ "Fellowship of the Royal Society 1660–2015". Royal Society. Archived from the original on 2015-07-15.
Jump up ^ Pitt, Helen (21 April 2018). "American economist Joseph Stiglitz wins 2018 Sydney Peace Prize". The Sydney Morning Herald. Retrieved 20 April 2018.
Jump up ^ [ Displaying Abstract ] (June 10, 2012). "Dr. Jane Hannaway Bride of Joseph Stiglitz". NYTimes.com. Retrieved October 29, 2013.
Jump up ^ Mary K. Mewborn (October 2004). "Real Estate News". Washingtonlife.com. Retrieved October 29, 2013.
Jump up ^ "Anya Schiffrin, Joseph Stiglitz". The New York Times. October 31, 2004.
External links[edit]
Wikiquote has quotations related to: Joseph Stiglitz
Wikimedia Commons has media related to Joseph Stiglitz.
Official website
Joseph E. Stiglitz | Columbia Business School Directory
Information and the Change in the Paradigm in Economics 2001 lecture at NobelPrize.org
Profile and Papers at Research Papers in Economics/RePEc
Publications at the National Bureau of Economic Research
Joseph E. Stiglitz (1943– ). The Concise Encyclopedia of Economics. Library of Economics and Liberty (2nd ed.). Liberty Fund. 2008.
Column archives at Project Syndicate
Appearances on C-SPAN
Joseph Stiglitz on Charlie Rose
Joseph Stiglitz on IMDb
Works by or about Joseph Stiglitz in libraries (WorldCat catalog)
"Joseph Stiglitz collected news and commentary". The New York Times.
Of the 1%, by the 1%, for the 1%, Joseph E. Stiglitz, Vanity Fair, May 2011
Roberts, Russ (July 9, 2012). "Stiglitz on Inequality". EconTalk. Library of Economics and Liberty.
Joseph Stiglitz's voice
from the BBC programme Start the Week, February 8, 2010.
Problems playing this file? See media help.
Political offices
Preceded by
Laura Tyson Chair of the Council of Economic Advisers
1995–1997 Succeeded by
Janet Yellen
Diplomatic posts
Preceded by
Michael Bruno Chief Economist of the World Bank
1997–2000 Succeeded by
Nicholas Stern
Awards
Preceded by
James J. Heckman
Daniel L. McFadden Laureate of the Nobel Memorial Prize in Economics
2001
Served alongside: George A. Akerlof, A. Michael Spence Succeeded by
Daniel Kahneman
Vernon L. Smith
[show]
Links to related articles
[show]
v
t
e
Keynesians
Founder
John Maynard Keynes
Neo-Keynesians
Gardner Ackley
Robert Solow
William Baumol
James Duesenberry
Robert Eisner
Trygve Haavelmo
Alvin Hansen
Roy Harrod
John Hicks
Lawrence Klein
James Meade
Lloyd Metzler
Franco Modigliani
Robert Mundell
Arthur Melvin Okun
Don Patinkin
William Phillips
William Poole
Paul Samuelson
James Tobin
Post-Keynesians
Victoria Chick
Paul Davidson
Evsey Domar
James K. Galbraith
John Kenneth Galbraith
Myron J. Gordon
Geoff Harcourt
Michael Hudson
Richard Kahn
Nicholas Kaldor
Michał Kalecki
Steve Keen
Jan Kregel
Marc Lavoie
Abba P. Lerner
Hyman Minsky
Bill Mitchell
Basil Moore
Steven Pressman
Joan Robinson
G. L. S. Shackle
Pavlina R. Tcherneva
Anthony Thirlwall
Sidney Weintraub
L. Randall Wray
New Keynesians
George Akerlof
Ben Bernanke
Olivier Blanchard
Alan Blinder
Guillermo Calvo
Richard Clarida
Brad DeLong
Huw Dixon
Stanley Fischer
Jordi Galí
Mark Gertler
Robert J. Gordon
Stephany Griffith-Jones
Nobuhiro Kiyotaki
Paul Krugman
Greg Mankiw
Marc Melitz
Maurice Obstfeld
Edmund Phelps
Ricardo Reis
Kenneth Rogoff
David Romer
Julio Rotemberg
Nouriel Roubini
Robert Shiller
Andrei Shleifer
Joseph Stiglitz
Lawrence Summers
John B. Taylor
Michael Woodford
[show]
v
t
e
John Bates Clark Medal recipients
Paul A. Samuelson (1947)
Kenneth E. Boulding (1949)
Milton Friedman (1951)
No Award (1953)
James Tobin (1955)
Kenneth J. Arrow (1957)
Lawrence R. Klein (1959)
Robert M. Solow (1961)
Hendrik S. Houthakker (1963)
Zvi Griliches (1965)
Gary S. Becker (1967)
Marc Leon Nerlove (1969)
Dale W. Jorgenson (1971)
Franklin M. Fisher (1973)
Daniel McFadden (1975)
Martin S. Feldstein (1977)
Joseph E. Stiglitz (1979)
A. Michael Spence (1981)
James J. Heckman (1983)
Jerry A. Hausman (1985)
Sanford J. Grossman (1987)
David M. Kreps (1989)
Paul R. Krugman (1991)
Lawrence H. Summers (1993)
David Card (1995)
Kevin M. Murphy (1997)
Andrei Shleifer (1999)
Matthew Rabin (2001)
Steven Levitt (2003)
Daron Acemoglu (2005)
Susan C. Athey (2007)
Emmanuel Saez (2009)
Esther Duflo (2010)
Jonathan Levin (2011)
Amy Finkelstein (2012)
Raj Chetty (2013)
Matthew Gentzkow (2014)
Roland Fryer (2015)
Yuliy Sannikov (2016)
Dave Donaldson (2017)
Parag Pathak (2018)
[show]
v
t
e
Laureates of the Nobel Memorial Prize in Economic Sciences
1969–1975
1969 Ragnar Frisch / Jan Tinbergen
1970 Paul A. Samuelson
1971 Simon Kuznets
1972 John R. Hicks / Kenneth J. Arrow
1973 Wassily Leontief
1974 Gunnar Myrdal / Friedrich August von Hayek
1975 Leonid Vitaliyevich Kantorovich / Tjalling C. Koopmans
1976–2000
1976 Milton Friedman
1977 Bertil Ohlin / James E. Meade
1978 Herbert A. Simon
1979 Theodore W. Schultz / Sir Arthur Lewis
1980 Lawrence R. Klein
1981 James Tobin
1982 George J. Stigler
1983 Gérard Debreu
1984 Richard Stone
1985 Franco Modigliani
1986 James M. Buchanan Jr.
1987 Robert M. Solow
1988 Maurice Allais
1989 Trygve Haavelmo
1990 Harry M. Markowitz / Merton H. Miller / William F. Sharpe
1991 Ronald H. Coase
1992 Gary S. Becker
1993 Robert W. Fogel / Douglass C. North
1994 John C. Harsanyi / John F. Nash Jr. / Reinhard Selten
1995 Robert E. Lucas Jr.
1996 James A. Mirrlees / William Vickrey
1997 Robert C. Merton / Myron S. Scholes
1998 Amartya Sen
1999 Robert A. Mundell
2000 James J. Heckman / Daniel L. McFadden
2001–present
2001 George A. Akerlof / A. Michael Spence / Joseph E. Stiglitz
2002 Daniel Kahneman / Vernon L. Smith
2003 Robert F. Engle III / Clive W.J. Granger
2004 Finn E. Kydland / Edward C. Prescott
2005 Robert J. Aumann / Thomas C. Schelling
2006 Edmund S. Phelps
2007 Leonid Hurwicz / Eric S. Maskin / Roger B. Myerson
2008 Paul Krugman
2009 Elinor Ostrom / Oliver E. Williamson
2010 Peter A. Diamond / Dale T. Mortensen / Christopher A. Pissarides
2011 Thomas J. Sargent / Christopher A. Sims
2012 Alvin E. Roth / Lloyd S. Shapley
2013 Eugene F. Fama / Lars Peter Hansen / Robert J. Shiller
2014 Jean Tirole
2015 Angus Deaton
2016 Oliver Hart / Bengt Holmström
2017 Richard H. Thaler
[show]
v
t
e
2001 Nobel Prize laureates
Chemistry
William Standish Knowles (United States)
Ryōji Noyori (Japan)
Karl Barry Sharpless (United States)
Literature
V. S. Naipaul (Trinidad & Tobago/United Kingdom)
Peace
United Nations
Kofi Annan (Ghana)
Physics
Eric Allin Cornell (United States)
Wolfgang Ketterle (Germany)
Carl Wieman (United States)
Physiology or Medicine
Leland H. Hartwell (United States)
Tim Hunt (United Kingdom)
Paul Nurse (United Kingdom)
Economic Sciences
George Akerlof (United States)
Michael Spence (United States)
Joseph Stiglitz (United States)
Nobel Prize recipients
1990
91
92
93
94
95
96
97
98
99
2000
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
[show]
v
t
e
Chairs of the Council of Economic Advisers
Nourse
Keyserling
Burns
Saulnier
Heller
Ackley
Okun
McCracken
Stein
Greenspan
Schultze
Weidenbaum
Feldstein
Sprinkel
Boskin
Tyson
Stiglitz
Yellen
Baily
Hubbard
Mankiw
Rosen
Bernanke
Lazear
Romer
Goolsbee
Krueger
Furman
Hassett
[show]
v
t
e
Cabinet of President Bill Clinton (1993–2001)
[hide]
Cabinet
Secretary of State
Warren M. Christopher (1993–97)
Madeleine Albright (1997–2001)
Secretary of the Treasury
Lloyd Bentsen (1993–94)
Robert Rubin (1995–99)
Larry Summers (1999–2001)
Secretary of Defense
Les Aspin (1993–94)
William J. Perry (1994–97)
William S. Cohen (1997–2001)
Attorney General
Janet Reno (1993–2001)
Secretary of the Interior
Bruce Babbitt (1993–2001)
Secretary of Agriculture
Mike Espy (1993–94)
Dan Glickman (1995–2001)
Secretary of Commerce
Ron Brown (1993–96)
Mickey Kantor (1996–97)
William M. Daley (1997–2000)
Norman Mineta (2000–01)
Secretary of Labor
Robert Reich (1993–97)
Alexis M. Herman (1997–2001)
Secretary of Health
and Human Services
Donna Shalala (1993–2001)
Secretary of Housing
and Urban Development
Henry G. Cisneros (1993–97)
Andrew M. Cuomo (1997–2001)
Secretary of Transportation
Federico Peña (1993–97)
Rodney Slater (1997–2001)
Secretary of Energy
Hazel O'Leary (1993–97)
Federico Peña (1997–98)
Bill Richardson (1998–2001)
Secretary of Education
Richard W. Riley (1993–2001)
Secretary of Veterans Affairs
Jesse Brown (1993–97)
Togo West (1998–2000)
* Acting secretary
[hide]
Cabinet-level
Vice President
Al Gore (1993–2001)
White House Chief of Staff
Mack McLarty (1993–94)
Leon Panetta (1994–97)
Erskine Bowles (1997–98)
John Podesta (1998–2001)
Administrator of the
Environmental Protection Agency
Carol M. Browner (1993–2001)
Ambassador to the United Nations
Madeleine Albright (1993–97)
Bill Richardson (1997–98)
Richard C. Holbrooke (1999–2001)
Director of the Office of
Management and Budget
Leon Panetta (1993–94)
Alice Rivlin (1994–96)
Franklin D. Raines (1996–98)
Jack Lew (1998–2001)
Director of National
Drug Control Policy
Lee P. Brown (1993–95)
Barry McCaffrey (1996–2001)
Trade Representative
Mickey Kantor (1993–97)
Charlene Barshefsky (1997–2001)
Director of the Federal Emergency
Management Agency
James L. Witt (1993–2001)*
Director of Central Intelligence
R. James Woolsey Jr. (1993–95)
John M. Deutch (1995–96)
George Tenet (1997–2001)
Chairperson of the
Council of Economic Advisers
Laura Tyson (1993–95)
Joseph Stiglitz (1995–97)
Janet Yellen (1997–99)
Martin Neil Baily (1999–2001)
Administrator of the
Small Business Administration
Philip Lader (1994–97)
Aída M. Álverez (1997–2001)
* took office in 1993, raised to cabinet-rank in 1996
[show]
v
t
e
Globalization
Journals
Outline
Studies
Aspects
Alter-globalization
Anti-globalization
Counter-hegemonic globalization
Cultural globalization
Deglobalization
Democratic globalization
Economic globalization
Environmental globalization
Financial globalization
Global citizenship
education
Global governance
Global health
History of
archaic
early modern
Military globalization
Political globalization
Trade globalization
Workforce globalization
Issues
Global
Disease
Digital divide
Labor arbitrage
Population
Warming
Water crisis
Other
Brain drain
reverse
Climate change
Climate justice
Development aid
Economic inequality
Endangered languages
Fair trade
Forced migration
Human rights
Illicit financial flows
Invasive species
Investor-state disputes
New international division of labour
North–South divide
Offshoring
Race to the bottom
pollution havens
Transnational crime
McDonaldization
Westernization
American imperialism
British Empire
World war
Theories
Capital accumulation
Dependency
Development
Earth system
Fiscal localism
Modernization
ecological
history of
Primitive accumulation
Social change
World history
World-systems
Notable
scholars
Samir Amin
Arjun Appadurai
K. Anthony Appiah
Daniele Archibugi
Giovanni Arrighi
Ravi Batra
Jean Baudrillard
Zygmunt Bauman
Ulrich Beck
Walden Bello
Jagdish Bhagwati
Robert Brenner
Manuel Castells
Noam Chomsky
Alfred Crosby
Christopher Chase-Dunn
Andre G. Frank
Thomas Friedman
Anthony Giddens
Peter Gowan
Michael Hardt
David Harvey
David Held
Paul Hirst
Michael Hudson
Paul James
Ibn Khaldun
Naomi Klein
Antonio Negri
George Ritzer
Dani Rodrik
Jeffrey Sachs
Saskia Sassen
John R. Saul
Vandana Shiva
Joseph Stiglitz
John Urry
Immanuel Wallerstein
Portal
Category
[show]
v
t
e
Presidents of the International Economic Association
Joseph Schumpeter (1950)
Gottfried Haberler (1950–1953)
Howard S. Ellis (1953–1956)
Erik Lindahl (1956–1959)
E. A. G. Robinson (1959–1962)
Giuseppe Ugo Papi (1962–1965)
Paul A. Samuelson (1965–1968)
Erik Lundberg (1968–1971)
Fritz Machlup (1971–1974)
Edmond Malinvaud (1974–1977)
Shigeto Tsuru (1977–1980)
Víctor L. Urquidi (1980–1983)
Kenneth Arrow (1983–1986)
Amartya Sen (1986–1989)
Anthony B. Atkinson (1989–1992)
Michael Bruno (1992–1995)
Jacques Drèze (1995–1999)
Robert M. Solow (1999–2002)
János Kornai (2002–2005)
Guillermo Calvo (2005–2008)
Masahiko Aoki (2008–2011)
Joseph E. Stiglitz (2011–2014)
Tim Besley (2014–)
[show]
v
t
e
Fellows of the Royal Society elected in 2009
Fellows
Robert Ainsworth
Ross J. Anderson
Michael Ashfold
Michael Batty
Martin Buck
Peter Buneman
Michel Chrétien
Jenny Clack
Michael Duff
Richard Ellis
Jeff Ellis
James Gimzewski
David Glover
Chris Goodnow
Wendy Hall
Nicholas Harberd
John Hardy
Brian Hemmings
Christine Holt
Christopher Hunter
Graham Hutchings
Peter Isaacson
Jonathan Keating
Dimitris Kioussis
Stephen Larter
David Leigh
David MacKay
Arthur B. McDonald
Angela McLean
David Owen
Richard Passingham
Guy Richardson
Wolfram Schultz
Keith Shine
Henning Sirringhaus
Maurice Skolnick
Karen Steel
Malcolm Stevens
Jesper Svejstrup
Jonathan Tennyson
John Todd
Burt Totaro
John Vederas
John Wood
Foreign
John Holdren
H. Robert Horvitz
Thomas Kailath
Roger D. Kornberg
Yakov Sinai
Joseph Stiglitz
Rashid Sunyaev
Steven D. Tanksley
Royal
Prince William, Duke of Cambridge
[show]
v
t
e
Sydney Peace Prize laureates
Muhammad Yunus (1998)
Desmond Tutu (1999)
Xanana Gusmão (2000)
William Deane (2001)
Mary Robinson (2002)
Hanan Ashrawi (2003)
Arundhati Roy (2004)
Olara Otunnu (2005)
Irene Khan (2006)
Hans Blix (2007)
Pat Dodson (2008)
John Pilger (2009)
Vandana Shiva (2010)
Noam Chomsky (2011)
Sekai Holland (2012)
Cynthia Maung (2013)
Julian Burnside (2014)
George Gittoes (2015)
Naomi Klein (2016)
Black Lives Matter (2017)
Joseph Stiglitz (2018)
Authority control
WorldCat Identities
BIBSYS: 90091791
BNE: XX4579434
BNF: cb12278641d (data)
GND: 120068524
ISNI: 0000 0001 2126 7538
LCCN: n79133157
MGP: 198150
NDL: 00475653
NKC: jn20000605161
NLA: 35525418
ICCU: IT\ICCU\CFIV\114630
SELIBR: 229429
SUDOC: 031603688
VIAF: 32057966
Retrieved from "https://en.wikipedia.org/w/index.php?title=Joseph_Stiglitz&oldid=842884417"
Categories:
Clinton administration cabinet members
1943 births
20th-century American writers
20th-century economists
21st-century American writers
21st-century economists
Alumni of Fitzwilliam College, Cambridge
Academics of the University of Manchester
American anti-globalization writers
American male writers
American Nobel laureates
Amherst College alumni
Ashkenazi Jews
Clinton administration personnel
Columbia University faculty
Development economists
Development specialists
Drummond Professors of Political Economy
Faculty of Sciences Po
Fellows of All Souls College, Oxford
Fellows of Gonville and Caius College, Cambridge
Fellows of the British Academy
Fellows of the Econometric Society
Foreign Members of the Royal Society
Foreign Members of the Russian Academy of Sciences
Georgist economists
Gerald Loeb Award winners
Guggenheim Fellows
Information economists
Intergovernmental Panel on Climate Change lead authors
Jewish American social scientists
Jewish American writers
Keio University faculty
Keynesians
Labour Party (UK) people
Living people
Massachusetts Institute of Technology alumni
Institute for Advanced Study visiting scholars
Members of the Pontifical Academy of Social Sciences
Members of the United States National Academy of Sciences
New Keynesian economists
Nobel laureates in Economics
People associated with the anti-austerity movement
People in international development
Princeton University faculty
Public economists
Stanford University Department of Economics faculty
United States Council of Economic Advisers
World Bank Chief Economists
Writers about globalization
Writers from Gary, Indiana
Yale University faculty
Doctor Honoris Causa of the University of National and World Economy
Center for Economic and Policy Research
Hidden categories:
Webarchive template wayback links
CS1 maint: BOT: original-url status unknown
Articles with hCards
Pages using infobox economist as a module
Spoken articles
Articles with hAudio microformats
Wikipedia articles needing clarification from January 2014
Wikipedia articles needing clarification from January 2010
All articles with unsourced statements
Articles with unsourced statements from October 2008
Articles with unsourced statements from June 2015
CS1 maint: Extra text: authors list
CS1 maint: Extra text: editors list
AC with 14 elements
Wikipedia articles with BIBSYS identifiers
Wikipedia articles with BNF identifiers
Wikipedia articles with GND identifiers
Wikipedia articles with ISNI identifiers
Wikipedia articles with LCCN identifiers
Wikipedia articles with NLA identifiers
Wikipedia articles with SBN identifiers
Wikipedia articles with SELIBR identifiers
Wikipedia articles with VIAF identifiers
Navigation menu
Personal tools
Not logged in
Talk
Contributions
Create account
Log in
Namespaces
Article
Talk
Variants
Views
Read
Edit
View history
More
Search
Navigation
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
In other projects
Wikimedia Commons
Wikiquote
Languages
العربية
Azərbaycanca
বাংলা
Башҡортса
Беларуская
Български
Català
Čeština
Cymraeg
Dansk
Deutsch
Eesti
Ελληνικά
Español
Esperanto
Euskara
فارسی
Français
Gàidhlig
한국어
Հայերեն
Ido
Bahasa Indonesia
Italiano
עברית
Basa Jawa
ქართული
Kinyarwanda
Latina
Lietuvių
Magyar
Македонски
മലയാളം
मराठी
Nederlands
日本語
Norsk
Norsk nynorsk
Oʻzbekcha/ўзбекча
ਪੰਜਾਬੀ
پنجابی
Plattdüütsch
Polski
Português
Română
Русский
Simple English
Slovenčina
Slovenščina
Suomi
Svenska
தமிழ்
ไทย
Türkçe
Українська
اردو
Tiếng Việt
Yorùbá
中文
50 more
Edit links
This page was last edited on 25 May 2018, at 10:02.
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
Privacy policy
About Wikipedia
Disclaimers
Contact Wikipedia
Developers
Cookie statement
Mobile view
Enable previews

key: html

type: local

value: div

attrs: id class

values: mw-page-base noprint

values: mw-head-base noprint

value: a

value: img

attrs: alt src width height srcset data-file-width data-file-height

attrs: href title

attrs: class id

attrs: id class lang

values: firstHeading firstHeading en

values: siteSub noprint

values: jump-to-nav mw-jump

attrs: href class title

values:
/wiki/Stiglitz_(disambiguation)
mw-disambig
Stiglitz (disambiguation)

attrs: role class

values:
note
hatnote navigation-not-searchable

value: span

value: th

attrs: colspan style

value: tr

values: Empfang Joseph E. Stiglitz im Rathaus Köln-1473.jpg

value: td

values: Nicholas Stern, Baron Stern of Brentford

values:
nofollow
external text
https://ideas.repec.org/e/pst33.html

values: position: absolute; top: 0px; left: 100px; right: 0px; bottom: 0px; height: 0px; width: 0px;

values: left: 50%; top: 50%; margin-left: -35px; margin-top: -27.5px;

values:
mwPlayerContainer k-player videoHolder
width: 200px; position: relative;

attrs: alt src title width height srcset data-file-width data-file-height

values:
float: left; margin-left: 5px;
floatnone

values:
/wiki/Wikipedia:Media_help
mw-redirect
Wikipedia:Media help

values: font-size: xx-small; line-height: 1.6em; margin-left: 60px;

values: Nobel Memorial Prize in Economic Sciences

values:
/wiki/University_Professor_(Columbia)
mw-redirect
University Professor (Columbia)

values: President of the United Nations General Assembly

values:
/wiki/Fulbright_Scholar
mw-redirect
Fulbright Scholar

values: School of International and Public Affairs

values:
/wiki/Sciences_Po_Paris
mw-redirect
Sciences Po Paris

values: WTO Ministerial Conference of 1999 protest activity

values: Intergovernmental Panel on Climate Change

values:
/wiki/Obama_Administration
mw-redirect
Obama Administration

values:
/wiki/2011_Spanish_protests
mw-redirect
2011 Spanish protests

values: Edit section: Contributions to economics

values:
/wiki/Public_goods
mw-redirect
Public goods

values:
/wiki/Classical_economist
mw-redirect
Classical economist

values:
/wiki/George_A._Akerlof
mw-redirect
George A. Akerlof

values:
/wiki/A._Michael_Spence
mw-redirect
A. Michael Spence

values:
/wiki/Imperfect_information
mw-redirect
Imperfect information

values:
/wiki/Incomplete_Markets
mw-redirect
Incomplete Markets

values: Edit section: Shapiro-Stiglitz efficiency wage model

values:
/wiki/Efficiency_wages
mw-redirect
Efficiency wages

values:
/wiki/Shapiro-Stiglitz_model
mw-redirect
Shapiro-Stiglitz model

values: The text near this tag may need clarification or removal of jargon. (January 2014)

values:
noprint Inline-Template
margin-left:0.1em; white-space:nowrap;

values: The text near this tag may need clarification or removal of jargon. (January 2010)

values: Edit section: Practical implications of Stiglitz theorems

values:
/wiki/US_Treasury
mw-redirect
US Treasury

values: This claim needs references to reliable sources. (October 2008)

values:
noprint Inline-Template Template-Fact
white-space:nowrap;

values:
/wiki/Pacifica_Radio
mw-redirect
Pacifica Radio

values: Edit section: Initiative for Policy Dialogue

values: Edit section: Commission on the Measurement of Economic Performance and Social Progress

values: Edit section: Commission of Experts on Reforms of the International Monetary and Financial System

values:
/wiki/Greek_debt_crisis
mw-redirect
Greek debt crisis

values: This claim needs references to reliable sources. (June 2015)

values:
/wiki/Frances_Ruane
mw-redirect
Frances Ruane

values: Jeremy Corbyn Labour Party leadership campaign, 2015

values: Labour Party (UK) leadership election, 2015

values:
/wiki/Shadow_Chancellor
mw-redirect
Shadow Chancellor

values:
/wiki/John_McDonnell_(politician)
mw-redirect
John McDonnell (politician)

values: Edit section: Support for anti-austerity movement in Spain

values: Edit section: Criticism of rating agencies

values:
/wiki/Peter_Orszag
mw-redirect
Peter Orszag

values: Edit section: Criticism of Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership

values: Transatlantic Trade and Investment Partnership

values: United Kingdom withdrawal from the European Union

values: United Kingdom European Union membership referendum, 2016

values: Edit section: Advice for the eurozone countries

values: Edit section: The Euro: How a Common Currency Threatens the Future of Europe (2016)

values: Edit section: The Great Divide: Unequal Societies and What We Can Do About Them (2015)

values: Edit section: Creating a Learning Society: A New Approach to Growth, Development, and Social Progress (2014)

values: Edit section: The Price of Inequality (2012)

values: Robert F. Kennedy Center for Justice and Human Rights

values: Edit section: The Three Trillion Dollar War (2008)

values: Edit section: Stability with Growth (2006)

values: Stability with Growth: Macroeconomics, Liberalization and Development (page does not exist)

values: Edit section: Making Globalization Work (2006)

values: Edit section: New Paradigm for Monetary Economics (2003)

values: Edit section: The Roaring Nineties (2003)

values: Edit section: Globalization and Its Discontents (2002)

values:
/wiki/Walrasian_model
mw-redirect
Walrasian model

values:
/wiki/Legion_of_Honor
mw-redirect
Legion of Honor

values: List of Fellows of the Royal Society elected in 2009

values: Category:CS1 maint: Extra text: authors list

values:
/wiki/W.W._Norton_%26_Company
mw-redirect
W.W. Norton & Company

values: Edit section: Selected scholarly articles

values:
nofollow
external text
https://dx.doi.org/10.2307/1883069

values:
nofollow
external text
//doi.org/10.2307%2F1883069

values:
nofollow
external text
https://dx.doi.org/10.2307/2296714

values:
nofollow
external text
//doi.org/10.2307%2F2296714

values:
nofollow
external text
https://dx.doi.org/10.2307/1885326

values:
nofollow
external text
//doi.org/10.2307%2F1885326

values:
nofollow
external text
//www.jstor.org/stable/1831401

values:
nofollow
external text
https://dx.doi.org/10.2307/2231500

values:
nofollow
external text
//doi.org/10.2307%2F2231500

values:
nofollow
external text
//www.jstor.org/stable/1802787

values:
nofollow
external text
https://dx.doi.org/10.2307/2297701

values:
nofollow
external text
//doi.org/10.2307%2F2297701

values:
nofollow
external text
//www.jstor.org/stable/2726189

values:
nofollow
external text
https://dx.doi.org/10.1257/jep.7.1.23

values:
nofollow
external text
//doi.org/10.1257%2Fjep.7.1.23

values:
nofollow
external text
https://dx.doi.org/10.1257/jep.7.1.109

values:
nofollow
external text
//doi.org/10.1257%2Fjep.7.1.109

values:
nofollow
external text
//doi.org/10.1093%2Fwbro%2F11.2.151

values:
nofollow
external text
//doi.org/10.1093%2Fwbro%2F11.2.249

values: Category:CS1 maint: Extra text: editors list

values:
nofollow
external text
https://dx.doi.org/10.1257/jep.12.2.3

values:
nofollow
external text
//doi.org/10.1257%2Fjep.12.2.3

values:
/wiki/Robert_Wade_(development_scholar)
mw-redirect
Robert Wade (development scholar)

values:
nofollow
external text
//www.jstor.org/stable/25604277

values:
nofollow
external text
//www.jstor.org/stable/25604291

values:
/wiki/Robert_Skidelsky
mw-redirect
Robert Skidelsky

values:
/wiki/Social_Europe_Journal
mw-redirect
Social Europe Journal

values:
nofollow
http://www.stiglitz-thefilm.com/
external text

values:
nofollow
http://www.iea-world.org/
external text

values:
/wiki/Cengage_Learning
mw-redirect
Cengage Learning

values:
nofollow
external text
//doi.org/10.2307%2F1891114

values:
nofollow
external text
//www.jstor.org/stable/1891114

values:
/wiki/International_New_York_Times
mw-redirect
International New York Times

values:
nofollow
external text
//www.jstor.org/stable/1804018

values: Category:CS1 maint: BOT: original-url status unknown

values:
nofollow
external text
http://www.nybooks.com/articles/15630

values:
/wiki/Sydney_Morning_Herald
mw-redirect
Sydney Morning Herald

values:
/wiki/New_York_Times
mw-redirect
New York Times

values:
nofollow
external text
http://rfkcenter.org/book-award?lang=en

values:
nofollow
external text
http://www.josephstiglitz.com

values:
/wiki/Library_of_Economics_and_Liberty
mw-redirect
Library of Economics and Liberty

values:
nofollow
external text
https://charlierose.com/videos/1742

values:
nofollow
https://www.imdb.com/name/nm1688889/
external text

values: File:Joseph StiglitzBBC Radio4 Start the Week 8 Feb 2010 p00f5ch9.flac

values: position: absolute; top: 0px; left: 110px; right: 0px; bottom: 0px; height: 0px; width: 0px;

values: width:220px width: 220px; position: relative;

values:
/wiki/James_J._Heckman
mw-redirect
James J. Heckman

values:
/wiki/Daniel_L._McFadden
mw-redirect
Daniel L. McFadden

values: List of Nobel Memorial Prize laureates in Economics

values:
/wiki/Brad_DeLong
mw-redirect
Brad DeLong

values: nowraplinks collapsible collapsed navbox-inner

values: navigation navbox Keynesians padding:3px

values: Template:John Bates Clark Medal recipients

values: Template talk:John Bates Clark Medal recipients

values:
/wiki/Roland_G._Fryer,_Jr.
mw-redirect
Roland G. Fryer, Jr.

values: nowraplinks collapsible autocollapse navbox-inner

values: Template talk:Nobel laureates in economics

values:
navbox-image
3
width:1px;padding:0px 0px 0px 2px

values: nowraplinks hlist collapsible autocollapse navbox-inner

values:
navbox-image
6
width:1px;padding:0px 0px 0px 2px

values:
navbox-image
14
width:1px;padding:0px 0px 0px 2px

values: United States Secretary of Health and Human Services

values: United States Secretary of Housing and Urban Development

values: United States Secretary of Transportation

values: United States Secretary of Veterans Affairs

values: nowraplinks collapsible expanded navbox-subgroup

values: Administrator of the Environmental Protection Agency

values: United States Ambassador to the United Nations

values: Office of the United States Trade Representative

values:
/wiki/A%C3%ADda_%C3%81lvarez
mw-redirect
Aída Álvarez

values: nowraplinks hlist collapsible collapsed navbox-inner

values:
/wiki/Global_digital_divide
mw-redirect
Global digital divide

values: navigation navbox Globalization padding:3px

values: Template:Presidents of the International Economic Association

values: Template talk:Presidents of the International Economic Association (page does not exist)

values: Template talk:FRS 2009 (page does not exist)

values: Template talk:Sydney Peace Prize laureates

values:
nofollow
external text
https://d-nb.info/gnd/120068524

values:
nofollow
external text
http://isni.org/isni/0000000121267538

values:
nofollow
external text
https://nla.gov.au/anbd.aut-an35525418

values:
nofollow
external text
https://libris.kb.se/auth/229429

values:
nofollow
external text
https://www.idref.fr/031603688

values:
nofollow
external text
https://viaf.org/viaf/32057966

values: Category:Clinton administration cabinet members

values: Category:Alumni of Fitzwilliam College, Cambridge

values: Category:Academics of the University of Manchester

values: Category:Drummond Professors of Political Economy

values: Category:Fellows of All Souls College, Oxford

values: Category:Fellows of Gonville and Caius College, Cambridge

values: Category:Fellows of the Econometric Society

values: Category:Foreign Members of the Royal Society

values: Category:Foreign Members of the Russian Academy of Sciences

values: Category:Intergovernmental Panel on Climate Change lead authors

values: Category:Jewish American social scientists

values: Category:Massachusetts Institute of Technology alumni

values: Category:Institute for Advanced Study visiting scholars

values: Category:Members of the Pontifical Academy of Social Sciences

values: Category:Members of the United States National Academy of Sciences

values: Category:People associated with the anti-austerity movement

values: Category:People in international development

values: Category:Stanford University Department of Economics faculty

values: Category:United States Council of Economic Advisers

values: Category:Doctor Honoris Causa of the University of National and World Economy

values: Category:Center for Economic and Policy Research

values: Category:Webarchive template wayback links

values: Category:Pages using infobox economist as a module

values: Category:Articles with hAudio microformats

values: Category:Wikipedia articles needing clarification from January 2014

values: Category:Wikipedia articles needing clarification from January 2010

values: Category:All articles with unsourced statements

values: Category:Articles with unsourced statements from October 2008

values: Category:Articles with unsourced statements from June 2015

values: Category:Wikipedia articles with BIBSYS identifiers

values: Category:Wikipedia articles with BNF identifiers

values: Category:Wikipedia articles with GND identifiers

values: Category:Wikipedia articles with ISNI identifiers

values: Category:Wikipedia articles with LCCN identifiers

values: Category:Wikipedia articles with NLA identifiers

values: Category:Wikipedia articles with SBN identifiers

values: Category:Wikipedia articles with SELIBR identifiers

values: Category:Wikipedia articles with VIAF identifiers

values: Discussion about edits from this IP address [ctrl-alt-n]

values: A list of edits made from this IP address [ctrl-alt-y]

values: You are encouraged to create an account and log in; however, it is not mandatory

values: You're encouraged to log in; however, it's not mandatory. [ctrl-alt-o]

values:
/wiki/Joseph_Stiglitz
View the content page [ctrl-alt-c]
c

values: Discussion about the content page [ctrl-alt-t]

values: p-namespaces navigation vectorTabs p-namespaces-label

values:
p-variants
navigation
vectorMenu emptyPortlet
p-variants-label

values: Past revisions of this page [ctrl-alt-h]

values: p-views navigation vectorTabs p-views-label

values:
p-cactions
navigation
vectorMenu emptyPortlet
p-cactions-label

values:
mw-wiki-logo
/wiki/Main_Page
Visit the main page

values:
/wiki/Main_Page
Visit the main page [ctrl-alt-z]
z

values: Featured content – the best of Wikipedia

values: Find background information on current events

values:
/wiki/Special:Random
Load a random article [ctrl-alt-x]
x

values: Permanent link to this revision of the page

values: Link to connected data repository item [ctrl-alt-g]

values: Printable version of this page [ctrl-alt-p]

values: جوزيف ستيجلز – Arabic

values:
interlanguage-link interwiki-az
display: none;

values: জোসেফ স্টিগ্‌লিয্ – Bangla

values:
interlanguage-link interwiki-bn
display: none;

values: Джозеф Стиглиц – Bashkir

values:
interlanguage-link interwiki-ba
display: none;

values: Джозеф Стыгліц – Belarusian

values:
interlanguage-link interwiki-be
display: none;

values: Джоузеф Стиглиц – Bulgarian

values:
interlanguage-link interwiki-bg
display: none;

values:
interlanguage-link interwiki-ca
display: none;

values:
interlanguage-link interwiki-cs
display: none;

values:
interlanguage-link interwiki-cy
display: none;

values:
interlanguage-link interwiki-da
display: none;

values:
interlanguage-link interwiki-et
display: none;

values: Τζόζεφ Στίγκλιτς – Greek

values:
interlanguage-link interwiki-el
display: none;

values:
interlanguage-link interwiki-eo
display: none;

values:
interlanguage-link interwiki-eu
display: none;

values: جوزف استیگلیتز – Persian

values:
interlanguage-link interwiki-fa
display: none;

values:
interlanguage-link interwiki-gd
display: none;

values: 조지프 스티글리츠 – Korean

values:
interlanguage-link interwiki-ko
display: none;

values: Ջոզեֆ Ստիգլից – Armenian

values:
interlanguage-link interwiki-hy
display: none;

values:
interlanguage-link interwiki-io
display: none;

values:
interlanguage-link interwiki-it
display: none;

values: ג'וזף שטיגליץ – Hebrew

values:
interlanguage-link interwiki-he
display: none;

values:
interlanguage-link interwiki-jv
display: none;

values: ჯოზეფ სტიგლიცი – Georgian

values:
interlanguage-link interwiki-ka
display: none;

values:
interlanguage-link interwiki-rw
display: none;

values:
interlanguage-link interwiki-la
display: none;

values:
interlanguage-link interwiki-lt
display: none;

values:
interlanguage-link interwiki-hu
display: none;

values: Џозеф Стиглиц – Macedonian

values:
interlanguage-link interwiki-mk
display: none;

values: ജോസഫ് സ്‌റ്റിഗ്ലിസ് – Malayalam

values:
interlanguage-link interwiki-ml
display: none;

values: जोसेफ स्तिगलित्झ – Marathi

values:
interlanguage-link interwiki-mr
display: none;

values:
interlanguage-link interwiki-nl
display: none;

values: ジョセフ・E・スティグリッツ – Japanese

values:
interlanguage-link interwiki-ja
display: none;

values:
interlanguage-link interwiki-no
display: none;

values:
interlanguage-link interwiki-nn
display: none;

values:
interlanguage-link interwiki-uz
display: none;

values: ਜੋਸਫ ਸਟਿਗਲਿਟਸ – Punjabi

values:
interlanguage-link interwiki-pa
display: none;

values:
interlanguage-link interwiki-pnb
display: none;

values:
interlanguage-link interwiki-nds
display: none;

values:
interlanguage-link interwiki-pl
display: none;

values:
interlanguage-link interwiki-ro
display: none;

values: Стиглиц, Джозеф – Russian

values:
interlanguage-link interwiki-simple
display: none;

values:
interlanguage-link interwiki-sk
display: none;

values:
interlanguage-link interwiki-sl
display: none;

values:
interlanguage-link interwiki-fi
display: none;

values:
interlanguage-link interwiki-sv
display: none;

values: ஜோசப் ஸ்டிக்லிட்சு – Tamil

values:
interlanguage-link interwiki-ta
display: none;

values: โจเซฟ สติกลิตส์ – Thai

values:
interlanguage-link interwiki-th
display: none;

values:
interlanguage-link interwiki-tr
display: none;

values: Джозеф Стігліц – Ukrainian

values:
interlanguage-link interwiki-uk
display: none;

values: جوزف اسٹگلیز – Urdu

values:
interlanguage-link interwiki-vi
display: none;

values:
interlanguage-link interwiki-yo
display: none;

values: 约瑟夫·斯蒂格利茨 – Chinese

values: All languages (initial selection from common choices by you and others)

values:
suggestions
display: none; font-size: 13px;

values: mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject page-Joseph_Stiglitz rootpage-Joseph_Stiglitz skin-vector action-view