Joseph Stiglitz
Nobel Prize Winning Economist


Joseph E. Stiglitz is a Nobel Prize winner, recognized around the world as a leading economic educator. He has written textbooks that have been translated into more than a dozen languages. His work has helped explain the circumstances in which markets do not work well, and how selective government intervention can improve their performance. Stiglitz founded one of the leading economics journals, The Journal of Economic Perspectives. His book Globalization and Its Discontents (W.W. Norton June 2001) has been translated into 35 languages and sold more than one million copies worldwide. His books include The Roaring Nineties, Towards a New Paradigm in Monetary Economics with Bruce Greenwald, Fair Trade for All with Andrew Charlton, Making Globalization Work, The Three Trillion Dollar War: The True Cost of the Iraq Conflict with Linda Bilmes of Harvard University, Freefall, The Price of Inequality, Creating a Learning Society, The Great Divide, and The Euro: How a Common Currency Threatens the Future of Europe. 

 

Stiglitz helped create a new branch of economics, “The Economics of Information,” exploring the consequences of information asymmetries and pioneering such pivotal concepts as adverse selection and moral hazard, which have now become standard tools not only of theorists, but of policy analysts. He has made major contributions to macro-economics and monetary theory, to development economics and trade theory, to public and corporate finance, to the theories of industrial organization and rural organization, and to the theories of welfare economics and of income and wealth distribution. In the 1980s, he helped revive interest in the economics of R&D.

 

Stiglitz was a member of the Council of Economic Advisers from 1993-95, during the Clinton administration, and served as CEA chairman from 1995-97. He then became Chief Economist and Senior Vice-President of the World Bank from 1997-2000. In 2008, he was appointed by French President Nicolas Sarkozy to chair a Commission on the Measurement of Economic Performance and Economic Progress.

 

Stiglitz was born in Gary, Indiana in 1943. A graduate of Amherst College, he received his PhD from MIT in 1967, became a full professor at Yale in 1970, and in 1979 was awarded the John Bates Clark Award, given biennially by the American Economic Association to the economist under 40 who has made the most significant contribution to the field. He has taught at Princeton, Stanford, and MIT, and was the Drummond Professor and a fellow of All Souls College, Oxford. He is now University Professor at Columbia University in New York and Chair of Columbia University’s Committee on Global Thought. He is also the co-founder and Executive Director of the Initiative for Policy Dialogue at Columbia. I

 

n 2001, he was awarded the Nobel Prize in economics for his analyses of markets with asymmetric information, and he was a lead author of the 1995 Report of the Intergovernmental Panel on Climate Change, which shared the 2007 Nobel Peace Prize. He is a member of the Pontifical Academy of Social Sciences, and in 2009, was appointed chairman of the UN Commission on Reforms of the International Monetary and Financial System. He served as the president of the International Economic Association from 2011 – 2014.

 

Stiglitz has received more than 40 honorary degrees, including from Harvard, Oxford, and Cambridge Universities, and has been decorated by several governments including Korea, Colombia, Ecuador, and most recently France, where he was appointed an Officer of the Legion of Honor. He was ranked in 2011 by Time magazine as one of the 100 most influential people in the world.

 

 

 

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Hardcover
Towards a General Theory of Deep DownturnsPresidential Address from the 17th World Congress of the International Economic Association in 2014
Palgrave Macmillan

Joseph Stiglitz examines the theory behind the economic downturns that have plagued our world in recent times. This fascinating three-part lecture acknowledges the failure of economic models to successfully predict the 2008 crisis and explores alternative models which, if adopted, could potentially restore a stable and prosperous economy.

Paperback
Life After DebtThe Origins and Resolutions of Debt Crisis
Palgrave Macmillan

This volume provides a pluralistic discussion from world-renowned scholars on the international aspects of the debt crisis and prospects for resolution. It provides a comprehensive evaluation of how the debt crisis has impacted Western Europe, the emerging markets and Latin America, and puts forward different suggestions for recovery.

Paperback
Inequality and Growth: Patterns and PolicyVolume I: Concepts and Analysis
Palgrave Macmillan

The aim of this two-volume book is to analyze the current state of global and regional inequality, dissect the phenomenal increase in inequality that we have seen occur in recent times, and better understand the complex relationship between inequality and development. The political instability and conflict that we see around the world, arguably, has connection to economic deprivation of large segments of society and the perception of marginalization. This two-volume work acquires a special significance in the light of these developments.

Paperback
Palgrave Macmillan

Part I focuses on the issues of global inequality, poverty measurement and security. Part II turns to the issue of income contingent loans (ICL), where the repayment in any year depends on the annual income of the individual. These loans have proven to be an especially effective way of financing higher education, but there has been experimentation of the use of these loans in several other areas.

An Evening With Joe Stiglitz The Nobel Prize Winning Economist talks about the current state of the global economy.



Read Joseph Stiglitz’s articles for Evonomics and Democracy Now!.

Browse Joseph Stiglitz’s most recent contributions to The Guardian.

Check out Joseph Stiglitz’s commentaries for Project Syndicate.

Learn more about Joseph Stiglitz here and follow him on Twitter.