Showing 1 - 10 of 12
More shock therapy for neoliberalism
Oped, Joseph Stiglitz, Published on 09/04/2022
» The fallout from Russia's invasion of Ukraine has reminded us of the unforeseeable disruptions constantly confronting the global economy. We have been taught this lesson many times. No one could have predicted the Sept 11, 2001, terrorist attacks, and few anticipated the 2008 financial crisis, the Covid-19 pandemic, or Donald Trump's election, which resulted in the United States turning toward protectionism and nationalism.
Davos fails to deliver an antidote for toxic problems
News, Joseph Stiglitz, Published on 05/02/2018
» I've been attending the World Economic Forum's annual conference in Davos, Switzerland -- where the so-called global elite convenes to discuss the world's problems -- since 1995. Never have I come away more dispirited than I have this year.
Why tax cuts for rich solve nothing
News, Joseph Stiglitz, Published on 01/08/2017
» Although America's right-wing plutocrats may disagree about how to rank the country's major problems -- for example, inequality, slow growth, low productivity, opioid addiction, poor schools, and deteriorating infrastructure -- the solution is always the same: lower taxes and deregulation, to "incentivise" investors and "free up" the economy. President Donald Trump is counting on this package to make America great again.
Globalisation failing the world's people
News, Joseph Stiglitz, Published on 08/08/2016
» Fifteen years ago, I wrote a little book, entitled Globalisation and its Discontents, describing growing opposition in the developing world to globalising reforms. It seemed a mystery: people in developing countries had been told that globalisation would increase overall well-being. So why had so many people become so hostile to it?
In the new geo-economy, TPP fails
News, Joseph Stiglitz, Published on 11/01/2016
» Last year was a memorable one for the global economy. Not only was overall performance disappointing, but profound changes -- both for better and for worse -- occurred in the global economic system.
Young Americans 'Fed Up' with country's economy
News, Joseph Stiglitz, Published on 16/09/2015
» At the end of every August, central bankers and financiers from around the world meet in Jackson Hole, Wyoming, for the US Federal Reserve's economic symposium. This year, the participants were greeted by a large group of mostly young people, including many African- and Hispanic-Americans.
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.
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.
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.
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.