Date
17 January 2017

Joseph E. Stiglitz

Nobel laureate in economics and professor at Columbia University. His most recent book is The Price of Inequality: How Today’s Divided Society Endangers our Future
  • Donald Trump may well understand that what he proposes will violate World Trade Organization rules, but he may also know that it will take a long time for the WTO to rule against him. Photo: Reuters

    Trumpian uncertainty

    - Jan 11, 2017 3:32pm
    Every January, I try to craft a forecast for the coming year. Economic forecasting is notoriously difficult; but, notwithstanding the truth expressed in Harry Truman’s request for a one-armed economist (who wouldn’t be able to say...
  • The rise of China and India, along with technology advances, imply that  Donald Trump cannot bring well-paying manufacturing jobs back to the US. Photo: Reuters

    What Trump can do to the US economy

    - Nov 15, 2016 4:08pm
    Donald Trump’s astonishing victory in the United States presidential election has made one thing abundantly clear: too many Americans — particularly white male Americans — feel left behind. It is not just a feeling; many Americans...
  • Support for Donald Trump is based, at least partly, on the widespread anger stemming from loss of trust in government. Photo: Reuters

    Why Trump?

    - Oct 17, 2016 9:16am
    As I have traveled around the world in recent weeks, I am repeatedly asked two questions: Is it conceivable that Donald Trump could win the US presidency? And how did his candidacy get this far in...
  • A statue of 18th century Scottish economist Adam Smith stands outside the institute named after him. Smith proposed the concept of market competition. Photo: adamsmith.org

    Monopolies making a killing in new era

    - May 16, 2016 9:25am
    For 200 years, there have been two schools of thought about what determines the distribution of income — and how the economy functions. One, emanating from Adam Smith and 19th century liberal economists, focuses on competitive...
  • With a negative interest rate, older savers who depend on interest income cut their consumption more deeply than those who benefit from from it increase theirs. Photo: Mirror

    Why negative interest rates are doing more harm than good

    - Apr 14, 2016 9:46am
    I wrote at the beginning of January that economic conditions this year were set to be as weak as in 2015, which was the worst year since the global financial crisis erupted in 2008. And, as...
  • Young people will not find a smooth path into the job market unless the economy is performing much better. Photo: Internet

    Intergenerational unfairness our young face

    - Mar 17, 2016 10:14am
    Something interesting has emerged in voting patterns on both sides of the Atlantic: Young people are voting in ways that are markedly different from their elders. A great divide appears to have opened up, based not...
  • The stockpile of foreign reserves may partly explain why huge outflows have not triggered a full-blown financial crisis in developing countries. Photo: Reuters

    This is what developing countries are most worried about

    - Feb 19, 2016 11:27am
    Developing countries are bracing for a major slowdown this year. According to the UN report World Economic Situation and Prospects 2016, their growth will average only 3.8 percent this year — the lowest rate since the...
  • A debate is on in China as to whether supply-side or demand-side measures will help restore growth. Photo: Bloomberg

    China’s bumpy new normal

    - Jan 28, 2016 11:19am
    China’s shift from export-driven growth to a model based on domestic services and household consumption has been much bumpier than some anticipated, with stock-market gyrations and exchange-rate volatility inciting fears about the country’s economic stability. Yet...
  • Middle-aged white Americans are dying younger. Photo: usnews.com

    When inequality kills

    - Dec 8, 2015 9:47am
    This week, Angus Deaton will receive the Nobel Memorial Prize in Economics “for his analysis of consumption, poverty, and welfare”. Deservedly so. Indeed, soon after the award was announced in October, Deaton published some startling work...
  • Nobel prize-winning economist Joseph Stiglitz, the author of this article, speaks during a demonstration by the Fed Up coalition at Jackson Hole last month. Photo: Bloomberg

    Fed up with the Fed

    - Sep 8, 2015 10:31am
    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...
  • Eurozone leaders seem to think they can bring down the leftist government of Prime Minister Alex Tsipras (above) by bullying it into an agreement that contravenes its mandate. Photo: Reuters

    Greece can choose to end this unconscionable torture

    - Jun 30, 2015 11:05am
    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 leaders are finally beginning...
  • Big corporations such as tobacco companies can sue governments for reduced profits. This is one of the burning issues in trade agreements. Photo: Internet

    How rich companies are exploiting trade agreements

    - May 14, 2015 10:12am
    The United States and the world are engaged in a great debate about new trade agreements. Such pacts used to be called “free trade agreements”. In fact, they were managed trade agreements, tailored to corporate interests,...
  • Greece’s problems are made more difficult by the structure of the eurozone. European solidarity that must accompany loss of policy flexibility is missing. Photo: Bloomberg

    Greece needs a fresh start, not more austerity

    - Feb 4, 2015 3:25pm
    When the euro crisis began a five years ago, Keynesian economists predicted that the austerity that was being imposed on Greece and the other crisis-stricken countries would fail. It would stifle growth and increase unemployment —...
  • The decline in Greek GDP since 2010 is far worse than that in the US during the Great Depression of the 1930s. Photo: Bloomberg

    How Europe can reverse its economic misfortune

    - Jan 9, 2015 10:00am
    At long last, the United States is showing signs of recovery from the crisis that erupted at the end of President George W. Bush’s administration, when the near-implosion of its financial system sent shock waves around...
  • Obamacare has helped improve healthcare standards but health insurance coverage remains weak. Photo: Bloomberg

    How Ebola is exposing an ailing US healthcare system

    - Nov 13, 2014 10:59am
    The Ebola crisis reminds us, once again, of the downside of globalization. Not only good things, such as principles of social justice and gender equality, cross borders more easily than ever before; so do malignant influences...
  • China needs to devise effective regulatory regimes that are appropriate for its stage of development.

    Reforming China’s state-market balance

    - May 5, 2014 8:43am
    No country in recorded history has grown as fast – and moved as many people out of poverty – as China over the last thirty years. A hallmark of China’s success has been its leaders’ willingness...

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