Джозеф Стиглиц

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Джозеф Стиглиц
Стиглиц в 2019 году
Главный экономист Всемирного банка
In office Февраль 1997 г. - февраль 2000 г.
President	James Wolfensohn
Preceded by	Michael Bruno
Succeeded by	Nicholas Stern
17th Chair of the Council of Economic Advisers
In office June 28, 1995 – February 10, 1997
President	Bill Clinton
Preceded by	Laura Tyson
Succeeded by	Janet Yellen
Personal details
Born	Joseph Eugene Stiglitz (1943-02-09) February 9, 1943 Gary, Indiana, U.S.
Political party	Democratic
Spouse(s)	Jane Hannaway (div.) Anya Schiffrin ​ (m. 2004)​
Education	Amherst College (BA) Massachusetts Institute of Technology (MA, PhD)
Academic career
Field	Macroeconomics, public economics, information economics
School or tradition	Neo-Keynesian economics
Doctoral advisor	Robert Solow
Doctoral students	Katrin Eggenberger
Influences	John Maynard Keynes, Robert Solow, James Mirrlees, Henry George
Contributions	Screening Taxation Unemployment Market failure Information asymmetry Economic inequality
Information at IDEAS / RePEc
Academic background
Thesis	Studies in the theory of growth and income distribution (1967)

Джозеф Юджин Стиглиц ( / ˈ s t ɪ ɡ l ɪ t s / ; родился 9 февраля 1943) — американский новокейнсианец экономист- , аналитик государственной политики и профессор Колумбийского университета . Лауреат Нобелевской премии по экономике (2001 г.). и медаль Джона Бейтса Кларка (1979). Он бывший старший вице-президент и главный экономист Всемирного банка . Он также является бывшим членом и председателем Совета экономических консультантов США . Он известен своей поддержкой грузинской теории государственных финансов. и за его критический взгляд на управление глобализацией , на экономистов -либералов (которых он называет « фундаменталистами свободного рынка ») и на международные институты, такие как Международный валютный фонд и Всемирный банк .

In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received the university's highest academic rank (university professor) in 2003. He was the founding chair of the university's Committee on Global Thought. He also chairs the University of Manchester's Brooks World Poverty Institute. He was a member of the Pontifical Academy of Social Sciences. In 2009, the President of the United Nations General Assembly Miguel d'Escoto Brockmann, appointed Stiglitz as the chairman of the U.N. Commission on Reforms of the International Monetary and Financial System, where he oversaw suggested proposals and commissioned a report on reforming the international monetary and financial system. He served as the chair of the international Commission on the Measurement of Economic Performance and Social Progress, appointed by the French President Sarkozy, which issued its report in 2010, Mismeasuring our Lives: Why GDP doesn't add up, and currently serves as co-chair of its successor, the High Level Expert Group on the Measurement of Economic Performance and Social Progress. From 2011 to 2014, Stiglitz was the president of the International Economic Association (IEA). He presided over the organization of the IEA triennial world congress held near the Dead Sea in Jordan in June 2014.

In 2011, Stiglitz was named as one of the 100 most influential people in the world by Time magazine. Stiglitz's work focuses on income distribution from a Georgist perspective, asset risk management, corporate governance, and international trade. He is the author of several books, the latest being People, Power, and Profits (2019), The Euro: How a Common Currency Threatens the Future of Europe (2016), The Great Divide: Unequal Societies and What We Can Do About Them (2015), Rewriting the Rules of the American Economy: An Agenda for Growth and Shared Prosperity (2015), and Creating a Learning Society: A New Approach to Growth Development and Social Progress (2014). He is also one of the 25 leading figures on the Information and Democracy Commission launched by Reporters Without Borders. According to the Open Syllabus Project, Stiglitz is the fifth most frequently cited author on college syllabi for economics courses.

Life and career

Stiglitz was born in Gary, Indiana into a Jewish family. His mother was Charlotte (née Fishman), a schoolteacher, and his father was Nathaniel David Stiglitz, an insurance salesman. Stiglitz attended Amherst College, where he was a National Merit Scholar, active on the debate team, and president of the student government. During his senior year at Amherst College, he studied at the Massachusetts Institute of Technology (MIT), where he later pursued graduate work. In Summer 1965, he moved to the University of Chicago to do research under Hirofumi Uzawa who had received an NSF grant. He studied for his PhD from MIT from 1966 to 1967, during which time he also held an MIT assistant professorship. Stiglitz stated that the particular style of MIT economics suited him well, describing it as "simple and concrete models, directed at answering important and relevant questions."

From 1966 to 1970 he was a research fellow at the University of Cambridge. Stiglitz initially arrived at Fitzwilliam College, Cambridge as a Fulbright Scholar in 1965, and he later won a Tapp Junior Research Fellowship at Gonville and Caius College, Cambridge which was instrumental in shaping his understanding of Keynes and macroeconomic theory. In subsequent years, he held academic positions at Yale, Stanford, Oxford—where he was Drummond Professor of Political Economy—and Princeton. Since 2001, Stiglitz has been a professor at Columbia University, with appointments at the Business School, the Department of Economics and the School of International and Public Affairs (SIPA), and is an editor of The Economists' Voice journal with J. Bradford DeLong and Aaron Edlin.

He also takes classes for a double-degree program between Sciences Po Paris and École Polytechnique in 'Economics and Public Policy'. He has chaired the Brooks World Poverty Institute at the University of Manchester since 2005. Stiglitz is widely considered a New-Keynesian economist, although at least one economics journalist says his work cannot be so clearly categorised.

Stiglitz has played a number of policy roles throughout his career. He served in the Clinton administration as the chair of the President's Council of Economic Advisers (1995–1997). At the World Bank, he served as a senior vice-president and the chief economist from 1997 to 2000. He was fired by the World Bank for expressing dissent with its policies. Stiglitz has advised American president Barack Obama, but has criticized the Obama Administration's financial-industry rescue plan. He said whoever designed the Obama administration's bank rescue plan is "either in the pocket of the banks or they're incompetent."

In October 2008, he was asked by the President of the United Nations General Assembly to chair a commission drafting a report on the reasons for and solutions to the financial crisis. In response, the commission produced the Stiglitz Report.

On July 25, 2011, Stiglitz participated in the "I Foro Social del 15M" organized in Madrid, expressing his support to the 15M Movement protestors.

Stiglitz was the president of the International Economic Association from 2011 to 2014.

On September 27, 2015, the United Kingdom Labour Party announced that Stiglitz was to sit on its Economic Advisory Committee along with five other world-leading economists.

Contributions to economics

Stiglitz at a conference in Mexico in 2009

After the 2018 mid-term elections in the United States, he wrote a statement about the importance of economic justice to the survival of democracy worldwide.

Risk aversion

After getting his Ph.D. from M.I.T. in 1967, Stiglitz co-authored one of his first papers with Michael Rothschild for the Journal of Economic Theory in 1970. Stiglitz and Rothschild built upon works by economists such as Robert Solow on the concept of risk aversion. Stiglitz and Rothschild showed three plausible definitions of a variable X being 'more variable' than a variable Y were all equivalent – Y being equal to X plus noise, every risk-averse agent preferring Y to X, and Y having more weight in its tails, and that none of these were always consistent with X having a higher statistical variance than Y – a commonly used definition at the time. In a second paper, they analyzed the theoretical consequences of risk aversion in various circumstances, such as an individual's savings decisions and a firm's production decisions.

Henry George theorem

Stiglitz made early contributions to a theory of public finance stating that an optimal supply of local public goods can be funded entirely through capture of the land rents generated by those goods (when population distributions are optimal). Stiglitz dubbed this the 'Henry George theorem' in reference to the radical classical economist Henry George who famously advocated for land value tax. The explanation behind Stiglitz's finding is that rivalry for public goods takes place geographically, so competition for access to any beneficial public good will increase land values by at least as much as its outlay cost. Furthermore, Stiglitz shows that a single tax on rents is necessary to provide the optimal supply of local public investment. Stiglitz also shows how the theorem could be used to find the optimal size of a city or firm.

Information asymmetry

Stiglitz's most famous research was on screening, a technique used by one economic agent to extract otherwise private information from another. It was for this contribution to the theory of information asymmetry that he shared the Nobel Memorial Prize in Economics with George A. Akerlof and A. Michael Spence in 2001 "for laying the foundations for the theory of markets with asymmetric information".

Much of Stiglitz's work on information economics demonstrates situations in which incomplete information prevents markets from achieving social efficiency. His paper with Andrew Weiss showed that if banks use interest rates to infer information about borrowers' types (adverse selection effect), or to encourage their actions following borrowing (incentive effect), then credit will be rationed below the optimal level, even in a competitive market. Stiglitz and Rothschild showed that in an insurance market, firms have an incentive to undermine a 'pooling equilibrium', where all agents are offered the same full-insurance policy, by offering cheaper partial insurance that would only be attractive to the low-risk types, meaning that a competitive market can only achieve partial coverage of agents. Stiglitz and Grossman showed that trivially small information acquisition costs prevent financial markets from achieving complete informational efficiency, since agents will have an incentive to free-ride on others' information acquisition, and acquire this information indirectly by observing market prices.

Monopolistic competition

Main article: Dixit–Stiglitz model

Stiglitz, together with Avinash Dixit, created a tractable model of monopolistic competition that was an alternative to traditional perfect-competition models of general equilibrium. They showed that in the presence of increasing returns to scale, the entry of firms is socially too small. The model was extended to show that when consumers have a preference for diversity, entry can be socially too large. The modeling approach was used by Paul Krugman in his analysis of the non-comparative advantage trading patterns.

Shapiro–Stiglitz efficiency wage model

Main article: Shapiro–Stiglitz theory

See also: Efficiency wages

In the Shapiro–Stiglitz model of efficiency wages, workers are paid at a level that dissuades shirking. This prevents wages from dropping to market clearing levels. Full employment cannot be achieved because workers would shirk if they were not threatened with the possibility of unemployment. Because of this, the curve for the no-shirking condition (labeled NSC) goes to infinity at full employment.

Stiglitz also did research on efficiency wages, and helped create what became known as the "Shapiro–Stiglitz model" to explain why there is unemployment even in equilibrium, why wages are not bid down sufficiently by job seekers (in the absence of minimum wages) so that everyone who wants a job finds one, and to question whether the neoclassical paradigm could explain involuntary unemployment. An answer to these puzzles was proposed by Shapiro and Stiglitz in 1984: "Unemployment is driven by the information structure of employment". Two basic observations undergird their analysis:

1. Unlike other forms of capital, humans can choose their level of effort.
2. It is costly for firms to determine how much effort workers are exerting.

Some key implications of this model are:

1. Wages do not fall enough during recessions to prevent unemployment from rising. If the demand for labour falls, this lowers wages. But because wages have fallen, the probability of 'shirking' (workers not exerting effort) has risen. If employment levels are to be maintained, through a sufficient lowering of wages, workers will be less productive than before through the shirking effect. As a consequence, in the model, wages do not fall enough to maintain employment levels at the previous state, because firms want to avoid excessive shirking by their workers. So, unemployment must rise during recessions, because wages are kept 'too high'.
2. Possible corollary: Wage sluggishness. Moving from one private cost of hiring (w∗) to another private cost of hiring (w∗∗) will require each firm to repeatedly re-optimize wages in response to shifting unemployment rate. Firms cannot cut wages until unemployment rises sufficiently (a coordination problem).

The outcome is never Pareto efficient.

1. Each firm employs too few workers, because the cost of employing too many workers would be faced by the firm alone, while the cost of unemployment is shared by the firm and its competitors, indeed it is shared by all firms that pay taxes in the country. This means that firms do not "internalize" the "external" cost of unemployment – they do not factor how large-scale unemployment harms society when assessing their own costs. This leads to a negative externality as marginal social cost exceeds the firm's marginal cost (MSC = Firm's Private Marginal Cost + Marginal External Cost of increased social unemployment)
2. There are also positive externalities: each firm increases the asset value of unemployment for all other firms when they hire during recessions. By creating hypercompetitive labor markets, all firms (the winners when laborers compete) experience an increase in value. However, this effect of increased valuation is very unapparent, because the first problem (the negative externality of sub-optimal hiring) clearly dominates since the 'natural rate of unemployment' is always too high.

Practical implications of Stiglitz's theories

The practical implications of Stiglitz's work in political economy and their economic policy implications have been subject to debate. Stiglitz himself has evolved his political-economic discourse over time.

Once incomplete and imperfect information is introduced, Chicago-school defenders of the market system cannot sustain descriptive claims of the Pareto efficiency of the real world. Thus, Stiglitz's use of rational-expectations equilibrium assumptions to achieve a more realistic understanding of capitalism than is usual among rational-expectations theorists leads, paradoxically, to the conclusion that capitalism deviates from the model in a way that justifies state action – socialism – as a remedy.

The effect of Stiglitz's influence is to make economics even more presumptively interventionist than Samuelson preferred. Samuelson treated market failure as an exception to the general rule of efficient markets. But the Greenwald-Stiglitz theorem posits market failure as the norm, establishing "that government could potentially almost always improve upon the market's resource allocation." And the Sappington-Stiglitz theorem "establishes that an ideal government could do better running an enterprise itself than it could through privatization"

— Stiglitz 1994, p. 179.

As David L. Prychitko discusses in his "critique" to Whither Socialism?, he thought that Stiglitz seems generally correct, though it still leaves how the coercive institutions of the government should be constrained and what the relation is between the government and civil society.

Government

Clinton administration

Néstor Kirchner (right) with Joseph Stiglitz

Stiglitz joined the Clinton Administration in 1993, serving first as a member during 1993–1995, and was then appointed Chairman of the Council of Economic Advisers on June 28, 1995.

Stiglitz always had a poor relationship with Treasury Secretary Lawrence Summers. In 2000, Summers successfully petitioned for Stiglitz's removal, supposedly in exchange for World Bank President James Wolfensohn's re-appointment – an exchange that Wolfensohn denies took place. Whether Summers ever made such a blunt demand is questionable – Wolfensohn claims he would "have told him to *** himself".

Stiglitz resigned from the World Bank in January 2000, a month before his term expired. The Bank's president, James Wolfensohn, announced Stiglitz's resignation in November 1999 and also announced that Stiglitz would stay on as Special Advisor to the President, and would chair the search committee for a successor.

Joseph E. Stiglitz said today [Nov. 24, 1999] that he would resign as the World Bank's chief economist after using the position for nearly three years to raise pointed questions about the effectiveness of conventional approaches to helping poor countries.

In this role, he continued criticism of the IMF, and, by implication, the US Treasury Department. In April 2000, in an article for The New Republic, he wrote:

They'll say the IMF is arrogant. They'll say the IMF doesn't really listen to the developing countries it is supposed to help. They'll say the IMF is secretive and insulated from democratic accountability. They'll say the IMF's economic 'remedies' often make things worse – turning slowdowns into recessions and recessions into depressions. And they'll have a point. I was chief economist at the World Bank from 1996 until last November, during the gravest global economic crisis in a half-century. I saw how the IMF, in tandem with the U.S. Treasury Department, responded. And I was appalled.

Stiglitz's protector-of-sorts at the World Bank, Wolfensohn, had privately empathised with Stiglitz's views, but was worried for his second term, which Summers had threatened to veto. Stanley Fischer, deputy managing director of the IMF, called a special staff meeting and informed the gathering that Wolfensohn had agreed to fire Stiglitz. Meanwhile, the bank's External Affairs department told the press that Stiglitz had not been fired; his post had merely been abolished.

In a September 19, 2008 radio interview, with Aimee Allison and Philip Maldari on Pacifica Radio's KPFA 94.1 FM in Berkeley, United States, Stiglitz implied that President Clinton and his economic advisors would not have backed the North American Free Trade Agreement (NAFTA) had they been aware of stealth provisions, inserted by lobbyists, that they overlooked.

Initiative for Policy Dialogue

Main article: Initiative for Policy Dialogue

In July 2000, Stiglitz founded the Initiative for Policy Dialogue.

Commission on the Measurement of Economic Performance and Social Progress

At the beginning of 2008, Stiglitz chaired the Commission on the Measurement of Economic Performance and Social Progress, also known as the Stiglitz-Sen-Fitoussi Commission, initiated by President Sarkozy of France. The Commission held its first plenary meeting on April 22–23, 2008, in Paris. Its final report was made public on September 14, 2009.

Commission of Experts on Reforms of the International Monetary and Financial System

Stiglitz at the World Economic Forum annual meeting in Davos, 2009

In 2009, Stiglitz chaired the Commission of Experts on Reforms of the International Monetary and Financial System which was convened by the President of the United Nations General Assembly "to review the workings of the global financial system, including major bodies such as the World Bank and the IMF, and to suggest steps to be taken by Member States to secure a more sustainable and just global economic order". Its final report was released on September 21, 2009.

Greek debt crisis

In 2010, Stiglitz acted as an advisor to the Greek government during the Greek debt crisis. He appeared on Bloomberg TV for an interview on the risks of Greece defaulting, in which he stated that he was very confident that Greece would not default. He went on to say that Greece was under "speculative attack" and though it had "short-term liquidity problems ... and would benefit from Solidarity Bonds", the country was "on track to meet its obligations".

The next day, during a BBC interview, Stiglitz stated that "there's no problem of Greece or Spain meeting their interest payments". He argued nonetheless, that it would be desirable and needed for all of Europe to make a clear statement of belief in social solidarity and that they "stand behind Greece". Confronted with the statement: "Greece's difficulty is that the magnitude of debt is far greater than the capacity of the economy to service", Stiglitz replied, "That's rather absurd".

In 2012, Stiglitz described the European austerity plans as a "suicide-pact". In 2015, he said that the programme of austerity in Greece had been "an enormous mistake", that the International Monetary Fund, European Central Bank and the European Commission had "criminal responsibility for causing a major recession". He argued that Greek debt should be written off.

Scotland

Since March 2012, Stiglitz has been a member of the Scottish Government's Fiscal Commission Working Group, which oversees the work to establish a fiscal and macroeconomic framework for an independent Scotland on behalf of the Scottish Council of Economic Advisers. Together with Professors Andrew Hughes Hallett, Sir James Mirrlees and Frances Ruane, Stiglitz will "advise on the establishment of a credible Fiscal Commission which entrenches financial responsibility and ensures market confidence".

Labour Party

In July 2015, Stiglitz endorsed Jeremy Corbyn's campaign in the Labour Party leadership election. He said: "I am not surprised at all that there is a demand for a strong anti-austerity movement around increased concern about inequality. The promises of New Labour in the UK and of the Clintonites in the US have been a disappointment."

On September 27, 2015, it was announced that he had been appointed to the British Labour Party's Economic Advisory Committee, convened by Shadow Chancellor John McDonnell and reporting to Labour Party Leader Jeremy Corbyn, although he reportedly failed to attend the first meeting.

Economic views

Market efficiency

For Stiglitz, there is no such thing as an invisible hand, in the sense that free markets lead to efficiency as if guided by unseen forces. According to Stiglitz:

Whenever there are "externalities" – where the actions of an individual have impacts on others for which they do not pay or for which they are not compensated – markets will not work well. But recent research has shown that these externalities are pervasive, whenever there is imperfect information or imperfect risk markets – that is always.The real debate today is about finding the right balance between the market and government. Both are needed. They can each complement each other. This balance will differ from time to time and place to place.

In an interview in 2007, Stiglitz explained further:

The theories that I (and others) helped develop explained why unfettered markets often not only do not lead to social justice, but do not even produce efficient outcomes. Interestingly, there has been no intellectual challenge to the refutation of Adam Smith's invisible hand: individuals and firms, in the pursuit of their self-interest, are not necessarily, or in general, led as if by an invisible hand, to economic efficiency.

The preceding claim is based on Stiglitz's 1986 paper, "Externalities in Economies with Imperfect Information and Incomplete Markets", which describes a general methodology to deal with externalities and for calculating optimal corrective taxes in a general equilibrium context. In the opening remarks for his prize acceptance at Aula Magna, Stiglitz said:

I hope to show that Information Economics represents a fundamental change in the prevailing paradigm within economics. Problems of information are central to understanding not only market economics but also political economy, and in the last section of this lecture, I explore some of the implications of information imperfections for political processes.

Support for anti-austerity movement in Spain

On July 25, 2011, Stiglitz participated in the "I Foro Social del 15M" organized in Madrid (Spain) expressing his support for the anti-austerity movement in Spain. During an informal speech, he made a brief review of some of the problems in Europe and in the United States, the serious unemployment rate and the situation in Greece. "This is an opportunity for economic contribution social measures", argued Stiglitz, who made a speech about the way authorities are handling the political exit to the crisis. He encouraged those present to respond to the ideas with good ideas. "This does not work, you have to change it", he said.

Criticism of rating agencies

Stiglitz has been critical of rating agencies, describing them as the "key culprit" in the financial crisis, noting "they were the party that performed the alchemy that converted the securities from F-rated to A-rated. The banks could not have done what they did without the complicity of the rating agencies."

Stiglitz co-authored a paper with Peter Orszag in 2002 titled "Implications of the New Fannie Mae and Freddie Mac Risk-Based Capital Standard" where they stated "on the basis of historical experience, the risk to the government from a potential default on GSE debt is effectively zero." However, "the risk-based capital standard ... may fail to reflect the probability of another Great Depression-like scenario."

Views on risks associated with government-sponsored enterprises

In a 2002 paper coauthored with Jonathan Orszag, and Peter R. Orszag, Stiglitz asserted "the probability of default by the GSEs [Government-Sponsored Enterprises] is extremely small".

Criticism of Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership

See also: Trans-Pacific Partnership § Response, and Transatlantic Trade and Investment Partnership § activism against TTIP

Stiglitz warned that the Trans-Pacific Partnership (TPP) presented "grave risks" and it "serves the interests of the wealthiest."

Stiglitz also opposed the Transatlantic Trade and Investment Partnership (TTIP) trade deal between the European Union (EU) and the United States, and has argued that the United Kingdom should consider its withdrawal from the EU in the 2016 referendum on the matter if TTIP passes, saying that "the strictures imposed by TTIP would be sufficiently averse to the functioning of government that it would make me think over again about whether membership of the EU was a good idea".

Regulation

Stiglitz argues that relying solely on business self-interest as the means of achieving the well-being of society and economic efficiency is misleading, and that instead "What is needed is stronger norms, clearer understandings of what is acceptable – and what is not – and stronger laws and regulations to ensure that those that do not behave in ways that are consistent with these norms are held accountable".

Land value tax (Georgism)

Stiglitz argues that land value tax would improve the efficiency and equity of agricultural economies. Stiglitz believes that societies should rely on a generalized Henry George principle to finance public goods, protect natural resources, improve land use, and reduce the burden of rents and taxes on the poor while increasing productive capital formation. Stiglitz advocates taxing "natural resource rents at as close to 100 percent as possible" and that a corollary of this principle is that polluters should be taxed for "activities that generate negative externalities." Stiglitz therefore asserts that land value taxation is even better than its famous advocate Henry George thought.

Views on the eurozone

In a September 2016 interview Stiglitz stated that "the cost of keeping the Eurozone together probably exceeds the cost of breaking it up."

Views on free trade

Advice for the eurozone countries

In the 1990s, he wrote that "countries in North America and Europe should eliminate all tariffs and quotas (protectionist measures)". He now advises the eurozone countries to control their trade balance with Germany by means of export/import certificates or "trade chits" (a protectionist measure).

Citing Keynesian theory, he explains that trade surpluses are harmful: "John Maynard Keynes pointed out that surpluses lead to weak global aggregate demand – countries running surpluses exert a "negative externality" on trading partners. Indeed, Keynes believed it was surplus countries, far more than those in deficit, that posed a threat to global prosperity; he went so far as to advocate a tax on surplus countries". From the beginning of 1930, Keynes stopped believing in free trade, denounced the theory of comparative advantage (the basis of free trade) and adhered to protectionism.

Stiglitz writes: "Germany's surplus means that the rest of Europe is in deficit. And the fact that these countries import more than they export contributes to the weakness of their economies". He thinks that surplus countries are getting richer at the expense of deficit countries. He notes that the euro is the cause of this deficit and that as the trade deficit declines GDP would rise and unemployment would fall: "The euro system means that Germany's exchange rate cannot increase compared to other euro area members. If the exchange rate were to rise, Germany would have more difficulty exporting and its economic model, based on strong exports, would cease. At the same time, the rest of Europe would export more, GDP would rise and unemployment would fall".

He also thinks that the rest of the world should impose a carbon-adjustment tax (a protectionist measure) on American exports that do not comply with global standard.

Advice for the United States

Joseph Stiglitz

Contrary to Keynesian theory and these analyses on the eurozone, he argues that the United States should not rebalance the trade account, and that the country can no longer apply protectionist measures to protect or recreate the well-paying manufacturing jobs, saying: "The very Americans who have been among the losers of globalization stand to be among the losers of a reversal of globalization. History cannot be put into reverse".

On the other hand, he admits that as trade deficit declines, "GDP would rise and unemployment would fall", further stating: "...the fact that these countries are importing more than they are exporting contributes to their weak economies." He also notes that trade deficit is correlated with loss of manufacturing jobs: the increase in the "value of the dollar will lead to larger trade deficits and fewer manufacturing jobs".

Contrary to most economics historians who argue that tariffs played only a minor if any role in the Great Depression, Stiglitz, to convince the United States not to use protectionist policies, says that tariffs would be harmful to the United States economy today because it contributed to the Great Depression: "Following that, U.S. exports fell by some 50 percent—contributing to our Great Depression".

He denounces the "trickle-down" policies of liberalism and neoliberalism (laissez-faire) However, he calls for lowering trade barriers and promoting free trade (policy of deregulation of foreign trade which is part of the laissez-faire economic model).

According to him, it is not China (which has a large trade surplus) that makes "trade war", but the United States (which has a large trade deficit). He advises China to take sanctions against the United States 'where it hurts economically and politically' if the US tries to raise tariffs to protect its industry, saying: "For example, cutbacks in purchases by China will lead to more unemployment in congressional districts that are vulnerable, influential, or both. ... China can retaliate anywhere it chooses, such as by using trade restrictions to target jobs in the congressional districts of those who support US tariffs. ... China may be more effective in targeting its retaliation to cause acute political pain. ... It's anybody's guess who can stand the pain better. Will it be the US, where ordinary citizens have already suffered for so long, or China, which, despite troubled times, has managed to generate growth in excess of 6%?"

Stiglitz does not want the United States to stop free trade. According to him, if China limits globalization, it will not hurt them, but if the United States stops with the process of free trade, it will be harmful. About China, according to him, if China depends less on economic globalization, it will not be negative for the country. He writes that the decline in exports from China to the U.S. may not "hurt them more than it hurt us" because "China's government has far more control over the country's economy than our government has over ours; and it is moving from export dependence to a model of growth driven by domestic demand." Regarding the United States, he writes the opposite and advice to apply the opposite of the Keynesian theory of trade deficits seen earlier: "Walking away from globalization may reduce our imports, but it will also reduce exports in tandem. And, almost surely, jobs will be destroyed faster than they will be created: there may even be fewer net manufacturing jobs". "[The] erection of barriers to trade and the movement of people and ideas more likely than not will be one in which the U.S. almost surely will lose."

In early 2017, he wrote that "the American middle class is indeed the loser of globalization" (the diminution of international trade regulations as well as tariffs, taxes) and "China, with its large emerging middle class, is among the big beneficiaries of globalization". "Thanks to globalisation, in terms of purchasing-power parity, China actually has already become the largest economy in the world in September 2015". However, contrary to what he wrote earlier, he later argued in February 2017 that the fall in wages and the disappearance of well-paid jobs in the United States, are not due to free trade or globalisation, but rather are inevitable collateral damage to the march of economic progress and technological innovation: "The United States can only push for advanced manufacturing, which requires higher skill sets and employs fewer people. Rising inequality, meanwhile, will continue ...". In addition, on December 5, 2017, contrary to what he wrote earlier, he wrote that the drop in wages in the United States is due to the actions of multinational companies rather than the globalisation and the trade account imbalances between countries caused by free trade: "It was an agenda written by and for large multinational companies, at the expense of workers".

In 2016, he said he believes that the economic situation of the United States is critical: "As the economists Anne Case and Angus Deaton showed in their study published in December 2015, life expectancy among middle-age white Americans is declining, as rates of suicides, drug use, and alcoholism increase. A year later, the National Center for Health Statistics reported that life expectancy for the country as a whole has declined for the first time in more than 20 years." ... With the incomes of the bottom 90% having stagnated for close to a third of a century (and declining for a significant proportion), the health data simply confirmed that things were not going well for swaths of the country".

Green economy

Stiglitz has called for a transition to a green economy. He supported the Green New Deal. In 2019, he wrote that "The Green New Deal would stimulate demand, ensuring that all available resources were used; and the transition to the green economy would likely usher in a new boom. Trump's focus on the industries of the past, like coal, is strangling the much more sensible move to wind and solar power. More jobs by far will be created in renewable energy than will be lost in coal." Stiglitz described the climate crisis as humanity's World War III.

Views on taxation

Stiglitz maintained the super-rich should pay taxes up to 70% to help deal with increasing inequality. Stiglitz stated a worldwide income tax rate of 70% on biggest earners "would clearly make sense". Stiglitz maintained society would become more egalitarian and cohesive. Stiglitz said a wealth taxes on fortunes acquired during many generations would have a larger influence. Stiglitz maintains most billionaires acquired much of their wealth through luck. He maintains Elizabeth Warren proposing a 2% tax for people with assets of over $50 million and 3% on those with over $1 billion was "very reasonable" and would raise significant revenues that could improve some United States problems.

Books

Along with his technical economic publications (over 300 technical articles), Stiglitz is the author of books on issues from patent law to abuses in international trade.

Whither Socialism? (1994)

Whither Socialism? is based on Stiglitz's Wicksell Lectures, presented at the Stockholm School of Economics in 1990 and presents a summary of information economics and the theory of markets with imperfect information and imperfect competition, as well as being a critique of both free market and market socialist approaches (see Roemer critique, op. cit.). Stiglitz explains how the neoclassical, or Walrasian model ("Walrasian economics" refers to the result of the process which has given birth to a formal representation of Adam Smith's notion of the "invisible hand", along the lines put forward by Léon Walras and encapsulated in the general equilibrium model of Arrow–Debreu), may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the information economics established by the Greenwald–Stiglitz theorems.

One of the reasons Stiglitz sees for the critical failing in the standard neoclassical model, on which market socialism was built, is its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness.

Globalization and Its Discontents (2002)

In Globalization and Its Discontents, Stiglitz argues that what are often called "developing economies" are, in fact, not developing at all, and puts much of the blame on the IMF.

Stiglitz stresses: "Recent advances in economic theory" (in part referring to his own work) "have shown that whenever information is imperfect and markets are incomplete, which is to say always, and especially in developing countries, then the invisible hand works most imperfectly." As a result, Stiglitz continues, governments can improve the outcome by well-chosen interventions. Stiglitz argues that when families and firms seek to buy too little compared to what the economy can produce, governments can fight recessions and depressions by using expansionary monetary and fiscal policies to spur the demand for goods and services. At the microeconomic level, governments can regulate banks and other financial institutions to keep them sound. They can also use tax policy to steer investment into more productive industries and trade policies to allow new industries to mature to the point at which they can survive foreign competition. And governments can use a variety of devices, ranging from job creation to manpower training to welfare assistance, to put unemployed labor back to work and cushion human hardship.

Stiglitz argues that the IMF has done great damage through the economic policies it has prescribed that countries must follow in order to qualify for IMF loans, or for loans from banks and other private-sector lenders that look to the IMF to indicate whether a borrower is creditworthy. The organization and its officials, he argues, have ignored the implications of incomplete information, inadequate markets, and unworkable institutions – all of which are especially characteristic of newly developing countries. As a result, Stiglitz argues, the IMF has often called for policies that conform to textbook economics but do not make sense for the countries to which the IMF is recommending them. Stiglitz seeks to show that these policies have been disastrous for the countries that have followed them.

The Roaring Nineties (2003)

The Roaring Nineties is Stiglitz's analysis of the boom and bust of the 1990s. Presented from an insider's point of view, firstly as chair of President Clinton's Council of Economic Advisors, and later as chief economist of the World Bank, it continues his argument on how misplaced faith in free-market ideology led to the global economic issues of today, with a perceptive focus on US policies.

Fair Trade for All (2005)

In Fair Trade for All, authors Stiglitz and Andrew Charlton argue that it is important to make the trading world more development friendly. The idea is put forth that the present regime of tariffs and agricultural subsidies is dominated by the interests of former colonial powers and needs to change. The removal of the bias toward the developed world will be beneficial to both developing and developed nations. The developing world is in need of assistance, and this can only be achieved when developed nations abandon mercantilist based priorities and work towards a more liberal world trade regime.

Making Globalization Work (2006)

Making Globalization Work surveys the inequities of the global economy, and the mechanisms by which developed countries exert an excessive influence over developing nations. Dr. Stiglitz argues that through tariffs, subsidies, an over-complex patent system and pollution, the world is being both economically and politically destabilised. Stiglitz argues that strong, transparent institutions are needed to address these problems. He shows how an examination of incomplete markets can make corrective government policies desirable.

Stiglitz is an exception to the general pro-globalisation view of professional economists, according to economist Martin Wolf. Stiglitz argues that economic opportunities are not widely enough available, that financial crises are too costly and too frequent, and that the rich countries have done too little to address these problems. Making Globalization Work has sold more than two million copies.

Stability with Growth (2006)

In Stability with Growth: Macroeconomics, Liberalization and Development, Stiglitz, José Antonio Ocampo (United Nations Under-Secretary-General for Economic and Social Affairs, until 2007), Shari Spiegel (managing director, Initiative for Policy Dialogue – IPD), Ricardo Ffrench-Davis (Main Adviser, Economic Commission for Latin America and the Caribbean – ECLAC) and Deepak Nayyar (Vice Chancellor, University of Delhi) discuss the current debates on macroeconomics, capital market liberalization and development, and develop a new framework within which one can assess alternative policies. They explain their belief that the Washington Consensus has advocated narrow goals for development (with a focus on price stability) and prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabilize the economy and promote growth, and accepts that market imperfections necessitate government interventions. Policy-makers have pursued stabilization goals with little concern for growth consequences, while trying to increase growth through structural reforms focused on improving economic efficiency. Moreover, structural policies, such as capital market liberalization, have had major consequences for economic stability. This book challenges these policies by arguing that stabilization policy has important consequences for long-term growth and has often been implemented with adverse consequences. The first part of the book introduces the key questions and looks at the objectives of economic policy from different perspectives. The third part presents a similar analysis for capital market liberalization.

The Three Trillion Dollar War (2008)

The Three Trillion Dollar War (co-authored with Linda Bilmes) examines the full cost of the Iraq War, including many hidden costs. The book also discusses the extent to which these costs will be imposed for many years to come, paying special attention to the enormous expenditures that will be required to care for very large numbers of wounded veterans. Stiglitz was openly critical of George W. Bush at the time the book was released.

Свободное падение (2010)

Основная статья: Свободное падение: Америка, свободные рынки и падение мировой экономики

В книге «Свободное падение: Америка, свободные рынки и гибель мировой экономики » Стиглиц обсуждает причины рецессии/депрессии 2008 года и предлагает реформы, необходимые, чтобы избежать повторения аналогичного кризиса, выступая за государственное вмешательство и регулирование в ряде случаев. областей. Среди политиков, которых он критикует, — Джордж Буш, Ларри Саммерс и Барак Обама.

Цена (

Из обложки: Поскольку те, кто находится на вершине, продолжают пользоваться лучшим здравоохранением, образованием и благами богатства, они часто не понимают, что, как подчеркивает Джозеф Э. Стиглиц, «их судьба связана с тем, как остальные 99 процентов жить... Так не должно быть. В книге «Цена неравенства» Стиглиц излагает комплексную программу по созданию более динамичной экономики и более справедливого и равноправного общества».

Книга получила Книжную премию Центра справедливости и прав человека Роберта Ф. Кеннеди за 2013 год, ежегодно вручаемую книге, которая «наиболее точно и убедительно отражает цели Роберта Кеннеди – его заботу о бедных и бессильных, его борьбу за честные и равноправные права». верил в то, что свободная демократия может исправить неравенство во власти и возможностях».

Создание обучающегося общества: новый подход к росту, развитию и социальному прогрессу (

Книга «Создание обучающегося общества» (в соавторстве с Брюсом К. Гринвальдом) проливает свет на значение этого открытия для экономической теории и политики. Взяв за отправную точку статью Кеннета Дж. Эрроу «Обучение на практике» 1962 года, они объясняют, почему производство знаний отличается от производства других товаров и почему сами по себе рыночные экономики обычно не производят и не передают знания эффективно. Устранение пробелов в знаниях и помощь отстающим в обучении имеют решающее значение для роста и развития. Но создание обучающегося общества не менее важно, если мы хотим поддерживать повышение уровня жизни в развитых странах.

Великий разрыв: неравные общества и что мы можем с ними 2015

Из обложки: В книге «Великий разрыв » Джозеф Э. Стиглиц подробно останавливается на диагнозе, который он предложил в своем бестселлере «Цена неравенства» , и предлагает пути решения растущей проблемы Америки. Стиглиц утверждает, что неравенство — это выбор, совокупный результат несправедливой политики и ошибочных приоритетов.

будущему Европы (2016

Из описания: «Стиглиц разрушает преобладающий консенсус относительно того, что беспокоит Европу, уничтожая сторонников жесткой экономии и предлагая ряд планов, которые могут спасти континент – и мир – от дальнейшего опустошения». По данным агрегатора рецензий книг Literary Hub , она получила всеобщее обозрение.

капитализм в эпоху недовольства (2019

Из обложки: Стиглиц показывает, как жизнь среднего класса снова может быть достижима для всех. Авторитетный отчет о предсказуемых опасностях фундаментализма свободного рынка и основ прогрессивного капитализма, « Люди, власть и прибыль» показывает нам Америку в кризисе, но также освещает путь через это трудное время.

Джозеф Стиглиц и Камаль Натх

: Глобальное движение за благополучие (2019 г.

Стиглиц и его соавторы отмечают, что взаимосвязанные кризисы деградации окружающей среды и человеческие страдания в наше время демонстрируют, что «что-то фундаментально неправильно в том, как мы оцениваем экономические показатели и социальный прогресс». Они утверждают, что использование ВВП в качестве главного показателя нашего экономического здоровья не дает точной оценки экономики или состояния мира и людей, живущих в нем.

и

Стиглиц написал серию статей и провел серию конференций, объясняя, как такая информационная неопределенность может влиять на все: от безработицы до нехватки кредитов. Будучи председателем Совета экономических консультантов во время первого срока администрации Клинтона и бывшим главным экономистом Всемирного банка , Стиглиц смог воплотить некоторые из своих взглядов в жизнь. Например, он открыто критиковал быстрое открытие финансовых рынков в развивающихся странах. Эти рынки полагаются на доступ к надежным финансовым данным и разумным законам о банкротстве, но он утверждает, что во многих из этих стран нет регулирующих институтов, необходимых для обеспечения надежной работы рынков.

В июле 2020 года Стиглиц вместе с Хамидом Рашидом, руководителем отдела глобального экономического мониторинга Департамента по экономическим и социальным вопросам ООН, опубликовал отчет, в котором указывалось, что политика количественного смягчения, реализованная США после финансового кризиса 2008 года , «по сути экспортировала долговой пузырь перед развивающимися странами».

Награды и почести

Помимо Нобелевской премии памяти, Стиглиц имеет более 40 степеней почетного доктора и как минимум восемь званий почетного профессора, а также должность почетного декана.

Стиглиц был избран членом Американской академии искусств и наук в 1983 году. Национальная академия наук в 1988 году, и Американское философское общество в 1997 году.

В 2009 году он получил премию «Золотая тарелка» Американской академии достижений , врученную членом Совета по наградам архиепископом Десмондом Туту на церемонии награждения в соборе Святого Георгия в Кейптауне, Южная Африка.

В 2010 году он получил премию Джеральда Леба за комментарии к книге «Капиталистические дураки и токсичное послание Уолл-стрит».

включил его В 2011 году журнал Foreign Policy в список ведущих мыслителей мира. наградил его Орденом Почётного легиона В феврале 2012 года посол Франции в США Франсуа Делаттр в звании офицера . Стиглиц был избран иностранным членом Королевского общества (ForMemRS) в 2009 году . Стиглиц был удостоен Сиднейской премии мира 2018 года .

Личная жизнь

Стиглиц женился на Джейн Ханнауэй в 1978 году, но позже пара развелась. 28 октября 2004 года он женился в третий раз на Ане Шиффрин , которая работает в Школе международных и общественных отношений Колумбийского университета . У него четверо детей и трое внуков.

Избранная библиография

Книги

• Стиглиц, Джозеф Э.; Удзава, Хирофуми (1969). Чтения по современной теории экономического роста . Кембридж, Массачусетс: MIT Press. ISBN  9780262190558 .
• Стиглиц, Джозеф Э.; Аткинсон, Энтони Б. (1980). Лекции по общественной экономике . McGraw-Hill Book Co. Лондон, Нью-Йорк: ISBN  9780070841055 .
• Стиглиц, Джозеф Э.; Ньюбери, Дэвид М.Г. (1981). Теория стабилизации цен на сырье: исследование экономики риска . Оксфорд Оксфорд Нью-Йорк: Clarendon Press Oxford University Press. ISBN  9780198284178 .
• Стиглиц, Джозеф Э. (1989). Экономическая роль государства . Оксфорд, Великобритания Кембридж, Массачусетс, США: Wiley-Blackwell . ISBN  9780631171355 .
• Стиглиц, Джозеф Э.; Боудвей, Робин (1994). Экономика и канадская экономика . Нью-Йорк: WW Norton & Company. ISBN  9780393965117 .
• Стиглиц, Джозеф Э. (1994). Куда социализм? . Кембридж, Массачусетс, США: MIT Press . ISBN  9780262691826 .
• Стиглиц, Джозеф Э. (2000). Экономика государственного сектора (3-е изд.). Нью-Йорк: WW Norton & Company. ISBN  9780393966510 .
• Стиглиц, Джозеф Э.; Мейер, Джеральд М. (2001). Границы экономики развития: будущее в перспективе . Вашингтон, округ Колумбия, Оксфорд, Нью-Йорк: Издательство Оксфордского университета Всемирного банка . ISBN  9780195215922 .
• Стиглиц, Джозеф Э.; Хольцманн, Роберт (2001). Новые идеи о пенсионном обеспечении в старости: к устойчивым пенсионным системам в 21 веке . Вашингтон, округ Колумбия: Всемирный банк . ISBN  9780821348222 .
• Стиглиц, Джозеф Э.; Юсуф, Шахид (2001). Переосмысление восточноазиатского чуда . Вашингтон, округ Колумбия, Нью-Йорк: Издательство Оксфордского университета Всемирного банка . ISBN  9780195216004 .
• Стиглиц, Джозеф Э. (2001). Чанг, Ха-Джун (ред.). Джозеф Стиглиц и Всемирный банк: бунтарь внутри . Лондон, Англия: Anthem Press. ISBN  9781898855538 .
• Стиглиц, Джозеф Э.; Сах, Раадж К. (1992). Крестьяне против горожан: налогообложение и бремя экономического развития . Оксфорд, Нью-Йорк: Clarendon Press Oxford University Press. ISBN  9780199253579 . (Перепечатано в 2005 г.)
• Стиглиц, Джозеф Э. (2002). Глобализация и ее недовольство . Нью-Йорк: WW Norton & Company. ISBN  9780393051247 .
• Стиглиц, Джозеф; Гринвальд, Брюс (2003). На пути к новой парадигме монетарной экономики . Серия лекций Рафаэле Маттиоли. Кембридж, Великобритания и Нью-Йорк: Издательство Кембриджского университета . ISBN  9780521810340 .
• Стиглиц, Джозеф Э. (2003). Ревущие девяностые: новая история самого процветающего десятилетия в мире . Нью-Йорк: WW Norton & Company. ISBN  9780393058529 .
• Стиглиц, Джозеф Э. (2004). Раунд торговых переговоров по развитию после Канкуна . Лондон, Великобритания: Секретариат Содружества . ISBN  9780850928013 .
• Стиглиц, Джозеф Э.; Чарльтон, Эндрю (2005). Справедливая торговля для всех: как торговля может способствовать развитию . Оксфорд, Нью-Йорк: Издательство Оксфордского университета. ISBN  9780199290901 .
• Стиглиц, Джозеф Э.; Уолш, Карл Э. (2006). Экономика (4-е изд.). Нью-Йорк: WW Norton & Company. ISBN  9780393926224 .
• Стиглиц, Джозеф Э.; Уолш, Карл Э. (2006). Принципы макроэкономики (4-е изд.). Нью-Йорк: WW Norton & Company. ISBN  9780393926248 .
• Стиглиц, Джозеф Э.; Окампо, Хосе Антонио ; Ффренч-Дэвис, Рикардо ; Найяр, Дипак ; Шпигель, Шари (2006). Стабильность с ростом: макроэкономика, либерализация и развитие . Оксфорд: Издательство Оксфордского университета. ISBN  9780199288144 .
• Стиглиц, Джозеф Э. (2006). Заставить глобализацию работать . Нью-Йорк: WW Norton & Company. ISBN  9780393061222 .
• Стиглиц, Джозеф Э.; Билмес, Линда (2008). Война на три триллиона долларов: истинная цена иракского конфликта . Нью-Йорк: WW Norton & Company. ISBN  9780393067019 .
• Стиглиц, Джозеф Э.; Окампо, Хосе Антонио ; Гриффит-Джонс, Стефани (2010). Время проявить видимую руку: уроки мирового финансового кризиса 2008 года . Оксфорд, Нью-Йорк: Издательство Оксфордского университета . ISBN  9780199578818 .
• Стиглиц, Джозеф Э. (2010). Доклад Стиглица: реформирование международной валютно-финансовой системы после глобального кризиса . Нью-Йорк, Нью-Йорк Лондон: Новая Пресса. ISBN  9781595585202 .
• Стиглиц, Джозеф Э.; Сен, Амартия ; Фитусси, Жан-Поль (2010). Неверное измерение нашей жизни: почему ВВП не складывается: доклад . Нью-Йорк: New Press : Распространяется Perseus Distribution. ISBN  9781595585196 .
• Стиглиц, Джозеф (2010). Свободное падение: Америка, свободные рынки и крах мировой экономики . Нью-Йорк, штат Нью-Йорк: WW Norton & Company . ISBN  9780393338959 .
  • Также как: Стиглиц, Джозеф (2010). Свободное падение: свободные рынки и крах мировой экономики . Лондон: Пингвин. ISBN  9780141045122 .
• Стиглиц, Джозеф Э. (2012). Цена неравенства: как сегодняшнее разделенное общество ставит под угрозу наше будущее . Нью-Йорк: WW Norton & Company . ISBN  9780393088694 .
• Стиглиц, Джозеф; Гринвальд, Брюс К. (2014). Создание обучающегося общества: новый подход к росту, развитию и социальному прогрессу . Нью-Йорк: Издательство Колумбийского университета . ISBN  9780231152143 .
• Стиглиц, Джозеф Э. (2015). Великий разрыв: неравные общества и что мы можем с этим поделать . Нью-Йорк: WW Norton & Company . ISBN  9780393248579 .
• Стиглиц, Джозеф Э.; Гринвальд, Брюс К. (2015). Создание обучающегося общества: новый подход к росту, развитию и социальному прогрессу . Колумбия: Издательство Колумбийского университета. ISBN  9780231175494 .
• Стиглиц, Джозеф Э. (2016). Евро: и его угроза будущему Европы . Аллен Лейн. ISBN  9780241258156 .
• Стиглиц, Джозеф Э. (2019). Люди, власть и прибыль: прогрессивный капитализм в эпоху недовольства . Аллен Лейн. ISBN  9780241399231 .
• Стиглиц, Джозеф; Фитусси, Жан-Поль; Дюран, Мартина (19 ноября 2019 г.). Измерение того, что имеет значение; Глобальное движение за благополучие (под ред. документа). Нью-Йорк: Новая пресса. ISBN  978-1-62097-569-5 . Проверено 10 декабря 2019 г.
• Дорога к свободе: экономика и хорошее общество , WW Norton & Company (2024), 384 страницы, ISBN 978-1324074373

Главы книги

• Стиглиц, Джозеф Э. (1989), «Руководитель и агент», Итвелл, Джон ; Милгейт, Мюррей ; Ньюман, Питер К. (ред.), Нью-Пэлгрейв: распределение, информация и рынки , Нью-Йорк: Norton, ISBN.  9780393958546 .
• Стиглиц, Джозеф Э. (1993), «Рыночный социализм и неоклассическая экономика», в Бардхане, Пранаб ; Ремер, Джон Э. (ред.), Рыночный социализм: текущие дебаты , Нью-Йорк: Oxford University Press, ISBN.  9780195080490 .
• Стиглиц, Джозеф Э. (2009), «Регулирование и неудачи», Мосс, Дэвид А .; Чистернино, Джон А. (ред.), Новые взгляды на регулирование , Кембридж, Массачусетс: Проект Тобина, стр. 11–23, ISBN.  9780982478806 . PDF-версия.
• Стиглиц, Джозеф Э. (2009), «Простые формулы для факультативного подоходного налогообложения и измерения неравенства», в Канбуре, Рави ; Басу, Кошик (ред.), Аргументы в пользу лучшего мира: эссе в честь Амартии Сена | Том I: Этика, благосостояние и измерение , Оксфорд, Нью-Йорк: Oxford University Press, стр. 535–66, ISBN.  9780199239115 .
• Стиглиц, Джозеф Э.; Билмес, Линда. (2012), «Оценка стоимости войны: методологические вопросы с применением к Ираку и Афганистану», Гарфинкель, Мишель; Скапердас, Стергиос (ред.), Оксфордский справочник по экономике мира и конфликтов , Оксфорд, Великобритания: Oxford University Press, стр. 275–317, ISBN.  9780195392777 . [1]

Избранные научные статьи

1970–1979

• Стиглиц, Джозеф Э.; Ротшильд, Майкл (сентябрь 1970 г.). «Повышающийся риск: I. определение». Журнал экономической теории . 2 (3). Эльзевир: 225–43. дои : 10.1016/0022-0531(70)90038-4 .
• Стиглиц, Джозеф Э.; Ротшильд, Майкл (март 1971 г.). «Повышающийся риск: II. Его экономические последствия». Журнал экономической теории . 3 (1). Эльзевир: 66–84. дои : 10.1016/0022-0531(71)90034-2 .
• Стиглиц, Джозеф Э. (май 1974 г.). «Альтернативные теории определения заработной платы и безработицы в НРС: модель текучести рабочей силы». Ежеквартальный экономический журнал . 88 (2). Оксфордские журналы: 194–227. дои : 10.2307/1883069 . JSTOR   1883069 .
• Стиглиц, Джозеф Э. (апрель 1974 г.). «Стимулы и разделение рисков при издольщине» (PDF) . Обзор экономических исследований . 41 (2). Оксфордские журналы: 219–55. дои : 10.2307/2296714 . JSTOR   2296714 . Архивировано из оригинала (PDF) 27 апреля 2019 г. Проверено 8 июля 2019 г.
• Стиглиц, Джозеф Э.; Ротшильд, Майкл (ноябрь 1976 г.). «Равновесие на конкурентных рынках страхования: очерк экономики несовершенной информации». Ежеквартальный экономический журнал . 90 (4). Оксфордские журналы: 629–49. дои : 10.2307/1885326 . JSTOR   1885326 .
• Стиглиц, Джозеф Э.; Диксит, Авинаш К. (июнь 1977 г.). «Монополистическая конкуренция и оптимальное разнообразие продукции». Американский экономический обзор . 67 (3). Американская экономическая ассоциация через JSTOR: 297–308. JSTOR   1831401 .
• Стиглиц, Джозеф Э.; Ньюбери, Дэвид М.Г. (декабрь 1979 г.). «Теория правил стабилизации цен на сырьевые товары: влияние на благосостояние и реакция предложения». Экономический журнал . 89 (356). Королевское экономическое общество через JSTOR: 799–817. дои : 10.2307/2231500 . JSTOR   2231500 .

1980–1989

• Гроссман, Сэнфорд Дж .; Стиглиц, Джозеф Э. (июнь 1980 г.). «О невозможности информационно эффективных рынков». Американский экономический обзор 70 (3). https://www.jstor.org/stable/1805228
• Стиглиц, Джозеф Э.; Вайс, Эндрю (июнь 1981 г.). «Кредитное нормирование на рынках с несовершенной информацией». Американский экономический обзор . 71 (3). Американская экономическая ассоциация через JSTOR: 393–410. JSTOR   1802787 . PDF-версия.
• Стиглиц, Джозеф Э.; Вайс, Эндрю (1983). «Стимулирующие эффекты прекращения деятельности: применение к рынкам кредита и труда» . Американский экономический обзор . 73 (5): 912–927.
• Стиглиц, Джозеф Э.; Ньюбери, Дэвид М.Г. (январь 1984 г.). «Низшая по Парето торговля». Обзор экономических исследований . 51 (1). Оксфордские журналы: 1–12. дои : 10.2307/2297701 . JSTOR   2297701 .
• Стиглиц, Джозеф Э. (март 1987 г.). «Причины и последствия зависимости качества от цены». Американский экономический обзор . 25 (1). Американская экономическая ассоциация через JSTOR: 1–48. JSTOR   2726189 .

1990–1999

• Стиглиц, Джозеф Э.; Гринвальд, Брюс (зима 1993 г.). «Новые и старые кейнсианцы» . Журнал экономических перспектив . 7 (1). Американская экономическая ассоциация: 23–44. дои : 10.1257/jep.7.1.23 .
• Стиглиц, Джозеф Э. (зима 1993 г.). «Поствальрасианская и постмарксистская экономика» . Журнал экономических перспектив . 7 (1). Американская экономическая ассоциация: 109–14. дои : 10.1257/jep.7.1.109 .
• Стиглиц, Джозеф Э. (август 1996 г.). «Некоторые уроки восточноазиатского чуда». Обозреватель исследований Всемирного банка . 11 (2). Всемирный банк : 151–77. дои : 10.1093/wbro/11.2.151 .
• Стиглиц, Джозеф Э.; Уй, Марилу (август 1996 г.). «Финансовые рынки, государственная политика и восточноазиатское чудо» (PDF) . Обозреватель исследований Всемирного банка . 11 (2). Всемирный банк : 249–76. дои : 10.1093/wbro/11.2.249 .
• Стиглиц, Джозеф Э. (сентябрь 1997 г.). «Джоргеску-Рёген против Солоу/Стиглица». Экологическая экономика . 22 (3): 269–70. дои : 10.1016/S0921-8009(97)00092-X .
  • Смотрите также: Николас Джорджеску-Роген и Роберт Солоу
• Стиглиц, Джозеф Э. (март 1998 г.). «Переопределение роли государства – что ему следует делать? Как ему следует это делать? И как следует принимать эти решения?». Доклад, представленный на десятой годовщине Исследовательского института MITI, Токио . PDF-версия.
  • Также как: Стиглиц, Джозеф Э. (2001), «Переопределение роли государства – что ему следует делать? Как ему следует это делать? И как следует принимать эти решения?», Джозеф Стиглиц и Всемирный банк: бунтарь внутри , автор: Стиглиц, Джозеф Э., Чанг, Ха-Джун (редактор), Лондон, Англия: Anthem Press, стр. 94–126, ISBN  9781898855538 .

2000–2009

• Стиглиц, Джозеф Э. (весна 1998 г.). «Выдающаяся лекция по экономике в правительстве: частное использование общественных интересов: стимулы и институты». Журнал экономических перспектив . 12 (2). Американская экономическая ассоциация: 3–22. дои : 10.1257/jep.12.2.3 . S2CID   154446858 .
• Стиглиц, Джозеф Э. (18 мая 2007 г.). «Премии, а не патенты» . Обзор постаутистической экономики . 42 . Всемирная экономическая ассоциация: 48–50.

2010 г. и далее

• Стиглиц, Джозеф Э. (28 мая 2014 г.). «Реформирование налогообложения для содействия экономическому росту и справедливости» . Белая книга . Институт Рузвельта. PDF-версия.

Статьи в популярной прессе

• Стиглиц, Джозеф Э. «Джозеф Э. Стиглиц» . Проект Синдикат . Проверено 29 октября 2013 г.
• Стиглиц, Джозеф Э. (17 апреля 2000 г.). «Чему я научился во время мирового экономического кризиса: инсайдер» (PDF) . Новая Республика . Крис Хьюз .
  • См. также: Уэйд, Роберт (январь – февраль 2001 г.). «Разборки во Всемирном банке» . Новый левый обзор . II (7). Обзор новых левых: 124–37.
• Стиглиц, Джозеф Э.; Орзаг, Питер Р .; Орзаг, Джонатан М. (2 марта 2002 г.). «Последствия нового стандарта капитала Fannie Mae и Freddie Mac, основанного на риске» (PDF) . Фанни Мэй Пресс . Я (2). Фанни Мэй : 1–10. Архивировано из оригинала (PDF) 22 ноября 2009 г.
• Стиглиц, Джозеф Э. (осень 2003 г.). «Информация и смена парадигмы в экономике, часть 1» . Американский экономист . 47 (2). Омикрон Дельта Эпсилон : 6–26. дои : 10.1177/056943450304700202 . JSTOR   25604277 . S2CID   159272023 . Архивировано из оригинала 7 апреля 2015 года.
• Стиглиц, Джозеф Э. (весна 2004 г.). «Информация и смена парадигмы в экономике, часть 2» . Американский экономист . 48 (1). Омикрон Дельта Эпсилон : 17–49. дои : 10.1177/056943450404800103 . JSTOR   25604291 . S2CID   154596039 . Архивировано из оригинала 7 апреля 2015 года.
• Стиглиц, Джозеф Э. (декабрь 2007 г.). «Экономические последствия господина Буша» . Ярмарка тщеславия . Конде Наст .
• Стиглиц, Джозеф Э.; Билмес, Линда Дж. (январь 2009 г.). «Отчет: похмелье в 10 триллионов долларов: расплата за восемь лет правления Буша» . Журнал Харпера . Том. 318, нет. 1904. Фонд журнала Harper's Magazine. Версия без подписки.
• Стиглиц, Джозеф Э. (январь 2009 г.). «Капиталистические дураки» . Ярмарка тщеславия . Конде Наст . Архивировано из оригинала 29 января 2015 г. Проверено 20 февраля 2020 г.
• Стиглиц, Джозеф (12 июня 2009 г.). «Американский социализм для богатых» . Хранитель . Лондон.
• Стиглиц, Джозеф Э. (июль 2009 г.). «Ядовитое послание Уолл-стрит» . Ярмарка тщеславия . Конде Наст .
• Стиглиц, Джозеф Э. (22 апреля 2010 г.). «Несуществующая рука» . Лондонское обозрение книг . 32 (8): 17–18 . Проверено 14 февраля 2011 г.
  • Рецензия на книгу: Скидельский, Роберт (2009). Кейнс: возвращение мастера . Аллен Лейн. ISBN  9781846142581 .
• Стиглиц, Джозеф Э. (май 2011 г.). «Из 1%, на 1%, для 1%» . Ярмарка тщеславия . Конде Наст .
• Стиглиц, Джозеф Э. (12 июля 2011 г.). «Идеологический кризис западного капитализма» . Социальная Европа .
• Стиглиц, Джозеф Э. (январь 2013 г.). «Посткризисные кризисы» . Журнал «Инсайт финансового директора» . Евроказначей.
• Стиглиц, Джозеф Э. (апрель 2013 г.). «Обещания абэномики» . Журнал «Инсайт финансового директора» . Евроказначей.
• Стиглиц, Джозеф Э. (январь 2015 г.). «Китайский век» . Ярмарка тщеславия . Конде Наст.
• Стиглиц, Джозеф Э. (29 июня 2015 г.). «Йозеф Стиглиц: как бы я проголосовал на референдуме в Греции» . Хранитель .
• Джозеф Э. Стиглиц, «Измерение того, что имеет значение: одержимость одной финансовой цифрой, ВВП , ухудшила здоровье, счастье и окружающую среду людей, и экономисты хотят заменить ее», Scientific American , vol. 323, нет. 2 (август 2020 г.), стр. 24–31.

Видео и онлайн-источники

• Стиглиц, Джозеф Э. (2007). Слушание комитета (через YouTube) (Выступление). Всемирный банк и глобальная бедность, Комитет Палаты представителей по финансовым услугам (C-SPAN). Вашингтон, округ Колумбия Архивировано из оригинала 7 ноября 2021 г. . Проверено 29 октября 2014 г.
• Стиглиц, Джозеф Э. (ведущий); Сарасин, Жак (режиссер) (май 2007 г.). «1–5». Куда движется мир, мистер Стиглиц? . Нью-Йорк: Особенности первого запуска . Пятисерийный сериал на двух DVD-дисках.
• Стиглиц, Джозеф Э. (ведущий); Сарасин, Жак (режиссер) (март 2009 г.). Вокруг света с Джозефом Стиглицем . Arte France / Les Productions Faire Bleu / Лебединые постановки. Оригинальное французское название Le monde selon Stiglitz .
• Стиглиц, Джозеф Э.; Билмес, Линда (28 февраля 2008 г.). Война на три триллиона долларов . Панельная дискуссия по поводу их новой книги. Колумбийский университет.
  • Подробности книги: Стиглиц, Джозеф Э.; Билмес, Линда (2008). Война на три триллиона долларов: истинная цена иракского конфликта . Нью-Йорк: WW Norton & Company. ISBN  9780393067019 .
• Стиглиц, Джозеф Э. (9 февраля 2010 г.). «Новости Bloomberg» (Видео) (YouTube). Беседовала Андреа Катервуд . Проверено 29 октября 2014 г. Стиглиц: ЕС должен защитить Грецию от спекулянтов
• Стиглиц, Джозеф Э. (гость); Хендри, Хью (гость) ; Касахуана, Карлос (гость) (9 февраля 2010 г.). «Новостной вечер» (Видео) (BBC). Беседовала Эмили Мейтлис . Проверено 29 октября 2014 г. Что Европе следует делать с Грецией?
• Стиглиц, Джозеф Э. (9 февраля 2010 г.). «Новости Bloomberg» (Видео) (YouTube). Беседовала Андреа Катервуд . Проверено 29 октября 2014 г. Стиглиц: ЕС должен защитить Грецию от спекулянтов
• Стиглиц, Джозеф Э. (21 августа 2014 г.). Неравенство, богатство и рост: почему капитализм терпит неудачу (Речь). 5-я встреча Линдау по экономическим наукам. Боденское озеро, Германия: Встречи нобелевских лауреатов в Линдау . Проверено 29 октября 2014 г.

Документы

• Интернет-доступ к опубликованным статьям Стиглица на его собственном веб-сайте.

См. также

• Теорема Аткинсона – Стиглица
• Список экономистов
• Список еврейских нобелевских лауреатов

Внешние ссылки

• Официальный сайт
• Джозеф Э. Стиглиц | Справочник бизнес-школы Колумбийского университета
• Джозеф Стиглиц на Nobelprize.org включая призовую лекцию 8 декабря 2001 г. «Информация и изменение парадигмы в экономике».
• Профиль и статьи в Research Papers in Economics /RePEc
• Публикации Национального бюро экономических исследований
• «Джозеф Э. Стиглиц (1943–)» . Краткая энциклопедия экономики . Библиотека экономики и свободы (2-е изд.). Фонд Свободы . 2008.
• Колоночные архивы Project Syndicate
• Появления на C-SPAN
• Джозеф Стиглиц о Чарли Роузе
• Джозеф Стиглиц на IMDb
• Джозеф Стиглиц собирал новости и комментарии в The New York Times.
• Из 1%, 1%, для 1% , Джозеф Э. Стиглиц, Vanity Fair , май 2011 г.
• Робертс, Расс (9 июля 2012 г.). «Стиглиц о неравенстве» . ЭконТалк . Библиотека экономики и свободы .
• Три десятилетия неолиберальной политики уничтожили средний класс, нашу экономику и нашу демократию . Джозеф Стиглиц для MarketWatch . 13 мая 2019 г.