Globalism discontents joseph stiglitz biography

non-fiction book by Joseph E. Stiglitz

Globalization and Its Discontents is a book published in by the Nobel laureateJoseph E.

Stiglitz.

Globalism discontents joseph stiglitz biography

The title is a reference to Freud's Civilization and Its Discontents.

The book draws on Stiglitz's personal experience as chairman of the Council of Economic Advisers under Bill Clinton from and chief economist at the World Bank from During this period Stiglitz became disillusioned with the IMF and other international institutions, which he came to believe acted against the interests of impoverished developing countries.^[1] Stiglitz argues that the policies pursued by the IMF are based on neoliberal assumptions that are fundamentally unsound:

Behind the free market ideology there is a model, often attributed to Adam Smith, which argues that market forces—the profit motive—drive the economy to efficient outcomes as if by an invisible hand.

One of the great achievements of modern economics is