Joseph Stiglitz is widely regarded as one of the world’s finest economic thinkers. He has made major contributions to macroeconomics and monetary theory, development economics and trade theory, public and corporate finance, the theories of industrial organisation and rural organisation, and the theories of welfare economics and income and wealth distribution.
In 2001, Joseph Stiglitz was awarded the Nobel Prize in Economics for pioneering a new branch of economics known as “The Economics of Information”. This explored the consequences of information asymmetries and developed such pivotal concepts as adverse selection and moral hazard that have now become standard tools not only for theorists, but also for policy analysts. In particular, he argued that there are certain circumstances in which markets do not work well, and that selective government intervention can improve their performance.
From 1993-95, Stiglitz was a member of the Council of Economic Advisors (CEA) under President Clinton. He served as the CEA’s chairman from 1995 to 1997 and subsequently became Chief Economist and Senior Vice President of the World Bank from 1997 to 2000. He is currently a Professor at Columbia University’s School of International and Public Affairs.
Recognised around the world as a leading economic educator, Joseph Stiglitz has written textbooks that have been translated into more than a dozen languages. He also founded one of the leading economics journals, The Journal of Economic Perspectives. His most recent best-selling books include “Freefall: America, Free Markets, and the Sinking of the World Economy” (2010) and “The Price of Inequality: How Today’s Divided Society Endangers Our Future” (2012). The latter addresses the causes of inequality, the reasons it is growing so rapidly, and its economic impacts. In a controversial conclusion, Stiglitz states that redistributing wealth from the bottom up would produce far greater overall gains in the global economy without adversely impacting the financial elites.
A distinguished keynote speaker, Joseph Stiglitz knows the ins and outs of the US’s economic system and has the insight to explain how slight shifts in policy can have major ramifications.
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