It was the realization that the standard (economics) model didn’t describe well the world we lived in that set me off on a quest for alternative models in which market imperfections, and especially imperfections of information and “irrationalities,” would play such an important role.
Ironically, as these ideas developed and gained currency within some parts of the economics profession, the opposite notion—that markets worked well, or would, if only the government kept out of the way—took hold within much of the public discourse.
This book, like several of those that preceded it, is an attempt to set the record straight.
About the author: Joseph Eugene Stiglitz is an American economist, public policy analyst, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979).
Ironically, as these ideas developed and gained currency within some parts of the economics profession, the opposite notion—that markets worked well, or would, if only the government kept out of the way—took hold within much of the public discourse.
This book, like several of those that preceded it, is an attempt to set the record straight.
About the author: Joseph Eugene Stiglitz is an American economist, public policy analyst, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979).