BBC interviews Joe Stiglitz on globalization and its discontents
This Saturday morning the BBC "The Interview" program had a fairly hard-hitting interview with Nobel Laureaute Joseph Stiglitz. It's well worth listening for his replies to questions such as "what is globalization" and "what is wrong with globalization today?".
Stiglitz is one of the more important economists of the past decades, most famous perhaps for his work on the economics of imperfect information. Brilliant in his youth he got his Ph.D. at age 26 and had been tenured by Yale by age 29. Much later in life, in 1993 he joined the Clinton administration's Council of Economic Advisers, which he later headed, before moving on to become Chief Economist at the World Bank. In the late 1990s, even while he was still at the World Bank, he emerged as fierce critic of the International Monetary Fund's approach to the Asian Financial Crisis and to their approach to financial markets liberalization.
In 2001 Stiglitz wrote the book Globalization and its Discontents which sold over 1 million copies, in which he further underlined several criticisms of how globalization was being carried out. The book made him a hero to some, but also earned him significant criticism from others. He was accused by many of having switched over to the 'anti-globalization' camp.
The interview gets particularly interesting starting around minute 8 when the interviewer starts pressing him on his views on globalization and to defend himself from some of his critics (who as the interviewer put it, described him as 'peddling "snake oil" in place of arguments').
The audio can be heard in full at this page (or directly here on the BBC "The Interview" website.
P.S. -- Stiglitz latest book, a sequel to the above mentioned, just came out: Making Globalization Work
Stiglitz is one of the more important economists of the past decades, most famous perhaps for his work on the economics of imperfect information. Brilliant in his youth he got his Ph.D. at age 26 and had been tenured by Yale by age 29. Much later in life, in 1993 he joined the Clinton administration's Council of Economic Advisers, which he later headed, before moving on to become Chief Economist at the World Bank. In the late 1990s, even while he was still at the World Bank, he emerged as fierce critic of the International Monetary Fund's approach to the Asian Financial Crisis and to their approach to financial markets liberalization.
In 2001 Stiglitz wrote the book Globalization and its Discontents which sold over 1 million copies, in which he further underlined several criticisms of how globalization was being carried out. The book made him a hero to some, but also earned him significant criticism from others. He was accused by many of having switched over to the 'anti-globalization' camp.
The interview gets particularly interesting starting around minute 8 when the interviewer starts pressing him on his views on globalization and to defend himself from some of his critics (who as the interviewer put it, described him as 'peddling "snake oil" in place of arguments').
The audio can be heard in full at this page (or directly here on the BBC "The Interview" website.
P.S. -- Stiglitz latest book, a sequel to the above mentioned, just came out: Making Globalization Work
Comments
I think Joseph Stigiltz has a great ideas and i agree with him when he said that Ideas matter but does these ideas has the power to change the prcess of writing the rules of IMF and WTO. Also, how can we have a social justice if there is a conflict of interest.
Thanks,
Aziz