American economist, professor, and recipient of the Nobel Memorial Prize in Economics
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People connected to Joseph Stiglitz
The Nobel laureate who turned on the institutions he once led. Stiglitz spent years inside the World Bank and the White House, then became one of the sharpest critics of how globalization actually works — calling out what he named "free-market fundamentalism" and the IMF's playbook with the authority of someone who'd seen the machinery up close.
Born February 9, 1943, Stiglitz collected the John Bates Clark Medal in 1979 and the Nobel in economics in 2001, building a career on income distribution and market failures. He served as chief economist of the World Bank and chaired the U.S. Council of Economic Advisers before breaking with orthodoxy. In 2000 he founded the Initiative for Policy Dialogue at Columbia, where he's held the rank of university professor since 2003. He chaired a U.N. commission on financial reform in 2009, led a French commission that produced "Mismeasuring our Lives" in 2010, and served as president of the Interna…
Sourced, dated quotes from Joseph Stiglitz
And it should be clear that, in spite of the increases in GDP, in spite of the 2008 crisis being well behind us, everything is not fine.
The fall of Wall Street is for market fundamentalism what the fall of the Berlin Wall was for communism.
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.
The reason that the invisible hand often seems invisible is that it is often not there.
The central economic issues go beyond the traditional three questions posed at the beginning of every introductory text: What is to be produced? How is it to be produced?
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