Major Publications and Ideas
Whither Socialism? (1994) – This book is based on Stiglitz’s lectures in 1990, which gives a summary about information economics. It also proposes a theory about markets with imperfect information and competition, as well critiques on the free market and market socialist approaches. The main reason behind his critiques is because of the failure of these approaches in considering the lack of perfect information and the cost of requiring them.
Whither Socialism? (1994) – This book is based on Stiglitz’s lectures in 1990, which gives a summary about information economics. It also proposes a theory about markets with imperfect information and competition, as well critiques on the free market and market socialist approaches. The main reason behind his critiques is because of the failure of these approaches in considering the lack of perfect information and the cost of requiring them.
Globalization and Its Discontents (2002) - Stiglitz argues in this book that developing countries are in reality not developing at all, mostly due to the actions of the IMF. When there are imperfect information and markets, the "invisible hand" works imperfectly as well. In order to counter this imperfectness, Stiglitz mentions the need of government intervention. For example, when there are too little demand compared to the supply, the government can intervene to increase the demand.
How does the IMF get blamed? It mostly lies in the policies it requires for countries to make loans. Because these policies doesn't take in consideration of the imperfect statuses that lie especially in developing countries, it "leads" developing countries in a "wrong" path and thus gets blamed by Stiglitz.
Make Globalization Work (2006) - In this book, Stiglitz continues to state the inequity in the economy. He believes that developed countries greatly affect the status of developing countries. Also, tariffs, subsidies, complex patent systems, and pollution have caused the world to become more and more economically and politically destabilized. These problems need to be strongly addressed to the public, as only by that action could good government intervention and policies seem desirable.
How does the IMF get blamed? It mostly lies in the policies it requires for countries to make loans. Because these policies doesn't take in consideration of the imperfect statuses that lie especially in developing countries, it "leads" developing countries in a "wrong" path and thus gets blamed by Stiglitz.
Make Globalization Work (2006) - In this book, Stiglitz continues to state the inequity in the economy. He believes that developed countries greatly affect the status of developing countries. Also, tariffs, subsidies, complex patent systems, and pollution have caused the world to become more and more economically and politically destabilized. These problems need to be strongly addressed to the public, as only by that action could good government intervention and policies seem desirable.
The Three Trillion Dollar War: The True Cost of the Iraq Conflict (2008) - This book examines the cost of the Iraq war, including some "hidden" costs that people wouldn't have thought about. It also explains how this cost would augment as time goes by, since money is needed to take care of the wounded soldiers and the like.
Freefall: America, Free Markets, and the Sinking of the World Economy (2010) - Unlike many of Stiglitz's previous books, this book doesn't need a large grasp of economic concepts in order to understand, as it's aimed for a larger audience. In this book, Stiglitz analyzes the causes of the 2008 recession and proposes many reforms and government interventions needed to prevent such events to occur in the future. Without such reforms, the role of USA in world economy and politics would suffer dramatically.
Freefall: America, Free Markets, and the Sinking of the World Economy (2010) - Unlike many of Stiglitz's previous books, this book doesn't need a large grasp of economic concepts in order to understand, as it's aimed for a larger audience. In this book, Stiglitz analyzes the causes of the 2008 recession and proposes many reforms and government interventions needed to prevent such events to occur in the future. Without such reforms, the role of USA in world economy and politics would suffer dramatically.
An interview with Stiglitz about the 2008 economic recession.
Other Publications:
Stability with Growth: Macroeconomics, Liberalization and Development (2006)
Fair Trade for All (2005)
New Paradigm for Monetary Economics (2004)
The Roaring Nineties: A New History of the World's Most Prosperous Decade (2003)
300+ Technical Articles
Stability with Growth: Macroeconomics, Liberalization and Development (2006)
Fair Trade for All (2005)
New Paradigm for Monetary Economics (2004)
The Roaring Nineties: A New History of the World's Most Prosperous Decade (2003)
300+ Technical Articles