Showing 1 - 10 of 22
Actions last year ensure more perils in 2012
News, Joseph Stiglitz, Published on 17/01/2012
» Last year 2011 will be remembered as the time when many ever-optimistic Americans began to give up hope. President John F Kennedy once said that a rising tide lifts all boats. But now, in the receding ebb, Americans are beginning to see not only that those with taller masts had been lifted far higher, but also that many of the smaller boats had been dashed to pieces in their wake.
ECB's stance on Greece is 'peculiar'
News, Joseph Stiglitz, Published on 08/02/2012
» Nothing illustrates better the political crosscurrents, special interests and shortsighted economics now at play in Europe than the debate over the restructuring of Greece's sovereign debt.
Inequality threatens global stability
News, Joseph Stiglitz, Published on 12/02/2013
» In the shadow of the euro crisis and America's fiscal cliff, it is easy to ignore the global economy's long-term problems. But, while we focus on immediate concerns, they continue to fester, and we overlook them at our peril.
Secular stagnation setting in
News, Joseph Stiglitz, Published on 18/02/2014
» Soon after the global financial crisis erupted in 2008, I warned that unless the right policies were adopted, Japanese-style malaise — slow growth and near-stagnant incomes for years to come — could set in. While leaders on both sides of the Atlantic claimed that they had learned the lessons of Japan, they promptly proceeded to repeat some of the same mistakes. Now, even a key former United States official, the economist Larry Summers, is warning of secular stagnation.
Unravelling the innovation enigma
News, Joseph Stiglitz, Published on 14/03/2014
» Around the world, there is enormous enthusiasm for the type of technological innovation symbolised by Silicon Valley. In this view, America’s ingenuity represents its true comparative advantage, which others strive to imitate. But there is a puzzle: It is difficult to detect the benefits of this innovation in GDP statistics.
Rise of inequality in the 21st century
News, Joseph Stiglitz, Published on 09/09/2014
» The reception in the United States, and in other advanced economies, of Thomas Piketty's recent book Capital in the Twenty-First Century attests to growing concern about rising inequality. His book lends further weight to the already overwhelming body of evidence concerning the soaring share of income and wealth at the very top.
Greece didn't fail, but the EU's debt moralising did
News, Joseph Stiglitz, Published on 06/02/2015
» When the euro crisis began a half-decade ago, Keynesian economists predicted that the austerity that was being imposed on Greece and the other crisis countries would fail. It would stifle growth and increase unemployment — and even fail to decrease the debt-to-GDP ratio.
US feuds with AIIB over power fears
News, Joseph Stiglitz, Published on 17/04/2015
» While the International Monetary Fund and the World Bank are poised to hold their annual meetings, the big news in global economic governance will not be made in Washington DC in the coming days. Indeed, key news was made last month, when the UK, Germany, France and Italy joined more than 30 other countries as founding members of the Asian Infrastructure Investment Bank (AIIB). The $50 billion AIIB, launched by China, will help meet Asia's enormous infrastructure needs, which are well beyond the capacity of today's financial institutions.
Solidarity key to Europe's future
News, Joseph Stiglitz, Published on 09/06/2015
» European Union leaders continue to play a game of brinkmanship with the Greek government. 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 programme that has proven to be a failure, and that few economists ever thought could, would, or should be implemented.
Europe bombards Greek democracy
News, Joseph Stiglitz, Published on 02/07/2015
» The 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 leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: It is about power and democracy much more than money and economics.