Nobel Prize-Winning Economist
Regarded as one of the best economic minds of his generation, Joseph E. Stiglitz is the winner of the 2001 Nobel Prize in economics. His work has helped explain the circumstances in which markets do not work well and how selective government intervention can improve their performance. Read More >
TEDTalk: The Costs of Inequality
The Economic Impact of Inequality
Based on his important (and controversial) new book, The Price of Inequality, Joseph Stiglitz speaks about the causes of inequality, the reasons it’s growing so rapidly, and its economic impacts. He explains that markets are neither efficient nor stable and tend to keep money in the hands of a few rather than create competition, in an overall system that benefits the rich over the rest of society. Read More >
He demonstrates how moving money from the middle and bottom of society to the top, far from stimulating entrepreneurship, actually produces slower growth and a lower GDP with even more instability. He concludes that redistributing wealth from the bottom up would produce far greater overall gains in our economies without adversely impacting financial elites.
The best-selling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work, and Freefall, Joseph Stiglitz won the Nobel Prize for Economics in 2001. Read Less ^