The problems of today's Europe can be traced directly to the rewriting of the "rules of the economic game" that has taken place over several decades under the strong influence of neoliberalism. If Europe is to return to the innovative and dynamic economy it once had-and if there is to be shared prosperity, social solidarity and justice across Europe-the rules must be rewritten once again. With the Foundation for European Progressive Studies (FEPS), Joseph E. Stiglitz lays out comprehensive programmes and policies designed to relieve the suffering of Europeans and restore a prosperous and equitable European Union.

Inequality is a choice. The United States bills itself as the land of opportunity, a place where anyone can achieve success and a better life through hard work and determination. But the facts tell a different story-the U.S. today lags behind most other developed nations in measures of inequality and economic mobility. For decades, wages have stagnated for the majority of workers while economic gains have disproportionately gone to the top one percent. Education, housing and health care-essential ingredients for individual success-are growing ever more expensive. Deeply rooted structural discrimination continues to hold down women and people of colour, and more than one-fifth of all American children now live in poverty. These trends are on track to become even worse in the future. Some economists claim that today's bleak conditions are inevitable consequences of market outcomes, globalisation and technological progress. If we want greater equality, they argue, we have to sacrifice growth. This is simply not true. American inequality is the result of misguided structural rules that actually constrict economic growth. We have stripped away worker protections and family support systems, created a tax system that rewards short-term gains over long-term investment, offered a de facto public safety net to too-big-to-fail financial institutions, and chosen monetary and fiscal policies that promote wealth over full employment.

An authoritative account of the dangers of unfettered markets and monied politics, People, Power, and Profits shows us an America in crisis. The American people, however, are far from powerless, and Joseph Stiglitz provides an alternative path forward through his vision of progressive capitalism, with a comprehensive set of political and economic changes.

With history and the extraordinary parallels between Biden and FDR as his guide, the veteran political analyst diagnoses what's at stake for America in 2022 and beyond Joe Biden has found his way back to Franklin Roosevelt's New Deal. After four decades of diminishing prospects for ordinary people, the public likes what Biden is offering. Yet American democracy is in dire peril as Republicans, increasingly the national minority, try to destroy democracy in order to cling to power. It is the best of times and the worst of times. In Going Big, bestselling author and political journalist Robert Kuttner assesses the promise and peril of this critical juncture. Biden, like FDR in his time, faces multiple challenges. Roosevelt had to make terrible compromises with racist legislators to win enactment of his program. Biden, to achieve the necessary governing coalition, needs to achieve durable multiracial coalitions. Roosevelt had to conquer fascism in Europe; Biden must defeat it at home. And after four decades of neoliberal policy disasters reflecting Wall Street's political influence, Biden needs to go beyond what even FDR achieved, to restore a democratic economy of broad possibility. From a writer with an unparalleled understanding of the history and politics that have made this moment possible, this book is the essential guide to what is at stake for Joe Biden, for America, and for our democracy.

Co-written by Joseph Stiglitz, winner of the Nobel Prize for his research on imperfect markets, and Carl E. Walsh, one of the leading monetary economists in the field, Principles of Microeconomics is the most modern and accurate text available.

Co-written by Joseph Stiglitz, winner of the Nobel Prize for his research on imperfect markets, and Carl E. Walsh, one of the leading monetary economists in the field, Principles of Macroeconomics is the most modern and accurate text available.

This is a collection of theoretical papers, including contributions by Partha Dasgupta and three Nobel prize-winning economists: Kenneth Arrow, Amartya Sen, and Joseph Stiglitz. Originally published in 1982.

What should be the role of government in society? How should it design its programmes? How should tax systems be designed to promote both efficiency and fairness? Nobel Laureate Joseph Stiglitz and new co-author Jay Rosengard bring an unparalleled level of expertise to address these key issues of public-sector economics. No other text is as modern, as accessible, or incorporates as much first-hand policy-advising experience by its authors as Stiglitz/Rosengard.

The revival of economic growth in Sub-Saharan Africa is all the more welcome for having followed one of the worst economic disasters-a quarter century of economic malaise for most of the region-since the industrial revolution. Six of the world's fastest-growing economies in the first decade of this century were African. Yet only in Ethiopia and Rwanda was growth not based on resources and the rising price of oil. Deindustrialization has yet to be reversed, and progress toward creating a modern economy remains limited. This book explores the vital role that active government policies can play in transforming African economies. Such policies pertain not just to industry. They traverse all economic sectors, including finance, information technology, and agriculture. These packages of learning, industrial, and technology (LIT) policies aim to bring vigorous and lasting growth to the region. This collection features case studies of LIT policies in action in many parts of the world, examining their risks and rewards and what they mean for Sub-Saharan Africa.

It was a part of the wisdom of mainstream economics that in the early stages of development inequality would rise but as growth persisted, it would, eventually, decline. Early evidence seemed to suggest that this pattern would be borne out. But, as time passed and growth persisted, inequality continued to grow, casting doubt on the received wisdom. The aim of this two-volume book is to analyze the current state of global and regional inequality, dissect the phenomenal increase in inequality that we have seen occur in recent times, and better understand the complex relationship between inequality and development. The political instability and conflict that we see around the world, arguably, has connection to economic deprivation of large segments of society and the perception of marginalization. This two-volume work acquires a special significance in the light of these developments.

It was part of common wisdom that in the early stages of development inequality would rise, but it would, eventually, decline. As time passed and growth persisted, inequality has, however, continued to grow, casting doubt on the received wisdom.

It was part of common wisdom that in the early stages of development inequality would rise, but it would, eventually, decline. As time passed and growth persisted, inequality has, however, continued to grow, casting doubt on the received wisdom.

In this edited collection, Joseph Stiglitz and Martin Guzman present a series of studies on contemporary macroeconomic issues. The book discusses a set of key lessons for macroeconomic theory following the recent global financial crisis and explores unconventional monetary policy in a post-crisis world. This volume is divided into five parts. The introduction includes keynote speeches by the Governors of the Bank of Japan and Central Bank of Jordan. Part one focuses on macroeconomic theory for understanding macroeconomic fluctuations and crises. Part two addresses the issue of the measurement of wealth. Part three discusses macroeconomic policies in times of crises. Finally, part four focuses on central banking and monetary policy.

With contributions from international scholars, this second volume by Joseph Stiglitz and Martin Guzman comprises of theoretical, empirical, and policy-based chapters which carefully utilize theory and data analysis. Part I focuses on the issues of global inequality, poverty measurement and security. Part II turns to the issue of income contingent loans (ICL), where the repayment in any year depends on the annual income of the individual. These loans have proven to be an especially effective way of financing higher education, but there has been experimentation of the use of these loans in several other areas.

In this edited collection, Joseph Stiglitz and Martin Guzman present a series of studies on contemporary macroeconomic issues. The book discusses a set of key lessons for macroeconomic theory following the recent global financial crisis and explores unconventional monetary policy in a post-crisis world. This volume is divided into five parts. The introduction includes keynote speeches by the Governors of the Bank of Japan and Central Bank of Jordan. Part one focuses on macroeconomic theory for understanding macroeconomic fluctuations and crises. Part two addresses the issue of the measurement of wealth. Part three discusses macroeconomic policies in times of crises. Finally, part four focuses on central banking and monetary policy.

Joseph Stiglitz examines the theory behind the economic downturns that have plagued our world in recent times. This fascinating three-part lecture acknowledges the failure of economic models to successfully predict the 2008 crisis and explores alternative models which, if adopted, could potentially restore a stable and prosperous economy.

As long as there have been financial markets, there have been bubbles-those moments in which asset prices inflate far beyond their intrinsic value, often with ruinous results. Yet economists are slow to agree on the underlying forces behind these events. In this book Jose A. Scheinkman offers new insight into the mystery of bubbles. Noting some general characteristics of bubbles-such as the rise in trading volume and the coincidence between increases in supply and bubble implosions-Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations. Other top economists also offer their own thoughts on the issue: Sanford J. Grossman and Patrick Bolton expand on Scheinkman's discussion by looking at factors that contribute to bubbles-such as excessive leverage, overconfidence, mania, and panic in speculative markets-and Kenneth J. Arrow and Joseph E. Stiglitz contextualize Scheinkman's findings.

"The Economists' Voice: Top Economists Take On Today's Problems" featured a core collection of accessible, timely essays on the challenges facing today's global markets and financial institutions. "The Economists' Voice 2.0: The Financial Crisis, Health Care Reform, and More" is the next installment in this popular series, gathering together the strongest essays published in "The Economist's Voice," a nonpartisan online journal, so that students and general readers can gain a deeper understanding of the financial developments shaping their world.

This collection contains thirty-two essays written by academics, economists, presidential advisors, legal specialists, researchers, consultants, and policy makers. They tackle the plain economics and architecture of health care reform, its implications for society and the future of the health insurance industry, and the value of the health insurance subsidies and exchanges built into the law. They consider the effects of financial regulatory reform, the possibilities for ratings reform, and the issue of limiting bankers' pay. An objective examination of the financial crisis and bank bailouts results in two indispensable essays on investment banking regulation after Bear Stearns and the positives and negatives of the Paulson/Bernanke bailout. Contributors weigh the merits of future rescues and suggest alternative strategies for addressing the next financial crisis. A final section examines a unique array of topics: the stability of pension security bonds; the value of a carbon tax, especially in fostering economic and environmental sustainability; the counterintuitive perils of net neutrality; the unforeseen consequences of government debt; the meaning of the Google book search settlement; and the unexploited possibilities for profit in NFL overtime games.

This volume explores the measurement of economic and social progress in our societies, and proposes new frameworks to integrate economic dimensions with other aspects of human well-being. Leading economists analyse the light that the recent crisis has shed on the global economic architecture, and the policies needed to address these systemic risks.

This volume explores the measurement of economic and social progress in our societies, and proposes new frameworks to integrate economic dimensions with other aspects of human well-being. Leading economists analyse the light that the recent crisis has shed on the global economic architecture, and the policies needed to address these systemic risks.

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 policies, topics discussed include the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India's experience with industrial policy in the banking and private sector. One essay revisits the theoretical and conceptual foundations of industrial policy from a structural economics perspective and another describes the models, packages, and transformation cycles that constitute a variety of approaches to implementation. The collection concludes with industrial strategies for facilitating quality growth, realizing more sustainable manufacturing development, and encouraging countries to industrialize around their natural resources.

The top 1 percent of Americans control some 40 percent of the nation's wealth. But as Joseph E. Stiglitz explains in this best-selling critique of the economic status quo, this level of inequality is not inevitable. Rather, in recent years well-heeled interests have compounded their wealth by stifling true, dynamic capitalism and making America no longer the land of opportunity that it once was. They have made America the most unequal advanced industrial country while crippling growth, distorting key policy debates, and fomenting a divided society. Stiglitz not only shows how and why America's inequality is bad for our economy but also exposes the effects of inequality on our democracy and on our system of justice while examining how monetary policy, budgetary policy, and globalization have contributed to its growth. With characteristic insight, he diagnoses our weakened state while offering a vision for a more just and prosperous future.

"The Economists' Voice: Top Economists Take On Today's Problems" featured a core collection of accessible, timely essays on the challenges facing today's global markets and financial institutions. "The Economists' Voice 2.0: The Financial Crisis, Health Care Reform, and More" is the next installment in this popular series, gathering together the strongest essays published in "The Economist's Voice," a nonpartisan online journal, so that students and general readers can gain a deeper understanding of the financial developments shaping their world.

This collection contains thirty-two essays written by academics, economists, presidential advisors, legal specialists, researchers, consultants, and policy makers. They tackle the plain economics and architecture of health care reform, its implications for society and the future of the health insurance industry, and the value of the health insurance subsidies and exchanges built into the law. They consider the effects of financial regulatory reform, the possibilities for ratings reform, and the issue of limiting bankers' pay. An objective examination of the financial crisis and bank bailouts results in two indispensable essays on investment banking regulation after Bear Stearns and the positives and negatives of the Paulson/Bernanke bailout. Contributors weigh the merits of future rescues and suggest alternative strategies for addressing the next financial crisis. A final section examines a unique array of topics: the stability of pension security bonds; the value of a carbon tax, especially in fostering economic and environmental sustainability; the counterintuitive perils of net neutrality; the unforeseen consequences of government debt; the meaning of the Google book search settlement; and the unexploited possibilities for profit in NFL overtime games.

These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies.

What should be the role of government in society? How should it design its programs? How should tax systems be designed to promote both efficiency and fairness? Nobel Laureate Joseph Stiglitz and new co-author Jay Rosengard use their first-hand policy-advising experience to address these key issues of public-sector economics in this modern and accessible Fourth Edition.