Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is "an insanely great economist, in ways you can't really appreciate unless you're deep into the field" (Paul Krugman, New York Times). In Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those "too big to fail," while also outlining the alternatives and revealing that even now there are choices ahead that...

The international community's commitment to halve global poverty by 2015 has been enshrined in the first Millennium Development Goal. How global poverty is measured is a critical element in assessing progress towards this goal, and different researchers have presented widely-varying estimates. The chapters in this volume address a range of problems in the measurement and estimation of global poverty, from a variety of viewpoints. Topics covered include the controversies surrounding the definition of a global poverty line; the use of purchasing power parity exchange rates to map the poverty...

Stiglitz draws on his deep understanding of economics to show that growing inequality is not inevitable: moneyed interests compound their wealth by stifling true, dynamic capitalism. They have made America the most unequal advanced industrial country while crippling growth, trampling on the rule of law, and undermining democracy. The result: a divided society that cannot tackle its most pressing problems. With characteristic insight, Stiglitz examines our current state, then teases out its implications for democracy, for monetary and budgetary policy, and for globalization. He closes with a...

Policymakers and economists largely agree that "rule of law" and property rights are essential for a sound economic policy, particularly for most developing countries. But it is becoming increasingly apparent that transplanting legal frameworks from one society to another doesn't work--even though neoliberal orthodoxy has held that it should. China's economic development offers a backdrop for developing alternative viewpoints on these issues. In this book, economists, academics, and policymakers wade straight into the discussion, using China as a concrete reference point. The volume is the...

This volume is the result of the 2012 International Economic Association's series of roundtables on the theme of Industrial Policy. The first, 'New Thinking on Industrial Policy, ' was hosted by the World Bank in Washington, D.C, and the second, 'New Thinking on Industrial Policy: Implications for Africa, ' was held in Pretoria, South Afric

This volume is the result of the 2012 International Economic Association's series of roundtables on the theme of Industrial Policy. The first, 'New Thinking on Industrial Policy, ' was hosted by the World Bank in Washington, D.C, and the second, 'New Thinking on Industrial Policy: Implications for Africa, ' was held in Pretoria, South Afric

Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Britain's industrial revolution onwards. This volume revisits the role of industrial policy in the success of these strategies and what it can offer developed and developing economies today. Featuring essays from experts invested in the expansion of industrial...

It has long been recognized that an improved standard of living results from advances in technology, not from the accumulation of capital. It has also become clear that what truly separates developed from less-developed countries is not just a gap in resources or output but a gap in knowledge. In fact, the pace at which developing countries grow is largely a function of the pace at which they close that gap.

Thus, to understand how countries grow and develop, it is essential to know how they learn and become more productive and what government can do to promote learning. In Creating a...

This volume provides a pluralistic discussion from world-renowned scholars on the international aspects of the debt crisis and prospects for resolution. It provides a comprehensive evaluation of how the debt crisis has impacted Western Europe, the emerging markets and Latin America, and puts forward different suggestions for recovery.

This volume provides a pluralistic discussion from world-renowned scholars on the international aspects of the debt crisis and prospects for resolution. It provides a comprehensive evaluation of how the debt crisis has impacted Western Europe, the emerging markets and Latin America, and puts forward different suggestions for recovery.