Joseph E. Stiglitz

Professor of Economics
Columbia University

JOSEPH E. STIGLITZ is University Professor at Columbia University, the winner of the 2001 Nobel Memorial Prize in Economics, and a lead author of the 1995 IPCC report, which shared the 2007 Nobel Peace Prize. He was chairman of the U.S. Council of Economic Advisors under President Clinton and chief economist and senior vice president of the World Bank for 1997-2000. Stiglitz received the John Bates Clark Medal, awarded biennially to the American economist under 40 who has made the most significant contribution to the subject. He was a Fulbright Scholar at Cambridge University, held the Drummond Professorship at All Souls College Oxford, and has also taught at M.I.T, Yale, Stanford, and Princeton.

Stiglitz helped create a new branch of economics, "The Economics of Information," exploring the consequences of information asymmetries and pioneering such pivotal concepts as adverse selection and moral hazard, which have now become standard tools not only of theorists, but also of policy analysts. His work has helped explain the circumstances in which markets do not work well, and how selective government intervention can improve their performance.

At Columbia, Stiglitz co-chairs the Committee on Global Thought and is founder and co-president of the Initiative for Policy Dialogue. He is also president of the International Economic Association, co-chair of the Commission on the Measurement Of Economic Performance and Social Progress and chair of the Commission of Experts of the President of the United Nations General Assembly on Reforms of the International Monetary and Financial System.

He is the author most recently of Freefall:  America, Free Markets, and the Sinking of the Global Economy.

My Video Content

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A Nobel Laureate is heartened that the global crisis has demolished the free market fundamentalist paradigm and opened up the possibilities for a 21st-century economics.

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The Inaugural Conference @ King's, Institute for New Economic Thinking, Session 3: Joseph Stiglitz, Professor of Economics at Columbia University and winner of Nobel Prize in Economics in 2001, gives a compelling presentation at the Inaugural Conference of the Institute for New Economic Thinking.

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John Shattuck and Joseph Stiglitz, both INET Adivsory Board members, talk about faulty models and other reasons why economic theory is not working


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A Nobel Laureate describes the terrible trap the economics profession is in and how the Institute may provide a way out by helping the next generation work outside the old paradigm.

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Joseph Stiglitz, Professor at Columbia University, speaking in the panel "The Architecture of Asia: Financial Structure and An Emerging Economic System" at the Bretton Woods Conference on April 10, 2011.