Joseph E. Stiglitz, a Nobel laureate in economics and University Professor at Columbia University, was Chairman of President Bill Clinton’s Council of Economic Advisers and served as Senior Vice President and Chief Economist of the World Bank. His most recent book, co-authored with Bruce Greenwald, is Creating a Learning Society: A New Approach to Growth, Development, and Social Progress.
The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European l… read more
To avoid economic and political instability, governments sometimes need to restructure their debts. But, in the absence of an international rule of law for doing so, the world pays a higher price than… read more
Greece has met its creditors’ demands far more than halfway. Yet Germany and Greece’s other creditors continue to demand that the country sign on to a program that has proven to be a failure, and that… read more
A great debate over new trade agreements is underway around the world. But the terms of such agreements are effectively being dictated by the US, and they go well beyond trade, imposing fundamental c… read more
In March, the United Kingdom, Germany, France, and Italy joined more than 30 other countries as founding members of the new Asian Infrastructure Investment Bank, which will do what existing institutio… read more
Last July, when US federal judge Thomas Griesa ruled that Argentina had to repay in full the "vulture" funds that had bought its sovereign debt at rock-bottom prices, the decision reverberated far and… read more
Contrary to critics’ warnings, "Obamacare" in the US has not pushed up health-care costs. But, by driving out competition from manufacturers of low-cost generic drugs, the Obama administration's emerg… read more
When the euro crisis began a half-decade ago, Keynesian economists predicted that the austerity imposed on Greece and the other crisis countries would fail. Now that it has, what is needed is not stru… read more
In 2014, the world economy remained stuck in the same rut that it has been in since emerging from the 2008 global financial crisis. But we know how to escape our current malaise, which suggests that t… read more
