Co-President, Initiative for Policy Dialogue
Member, Committee on Global Thought
Joseph E. Stiglitz is University Professor at Columbia University in New York. He is also the co-founder and Co-President of the Initiative for Policy Dialogue at Columbia. His interests are wide-ranging and include emerging markets, development, industrial policy, labor economics, public economics, and the economics of inequality.
A graduate of Amherst College, he received his PhD from MIT in 1967, became a full professor at Yale in 1970, and in 1979 was awarded the John Bates Clark Award, given biennially by the American Economic Association to the economist under 40 who has made the most significant contribution to the field. He has taught at Princeton, Stanford, MIT and was the Drummond Professor and a fellow of All Souls College, Oxford.. In 2001, he was awarded the Nobel Prize in economics for his analyses of markets with asymmetric information, and he was a lead author of the 1995 Report of the Intergovernmental Panel on Climate Change, which shared the 2007 Nobel Peace Prize. In 2011, TIME named Stiglitz one of the 100 most influential people in the world.
Stiglitz was a member of the Council of Economic Advisers from 1993-95, during the Clinton administration, and served as CEA chairman from 1995-97. He then became Chief Economist and Senior Vice-President of the World Bank from 1997-2000. In 2008 he was asked by the French President Nicolas Sarkozy to chair the Commission on the Measurement of Economic Performance and Social Progress, which released its final report in September 2009. In 2009 he was appointed by the President of the United Nations General Assembly as chair of the Commission of Experts on Reform of the International Financial and Monetary System, which also released its report in September 2009.
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 of policy analysts. He has made major contributions to macro-economics and monetary theory, to development economics and trade theory, to public and corporate finance, to the theories of industrial organization and rural organization, and to the theories of welfare economics and of income and wealth distribution. In the 1980s, he helped revive interest in the economics of R&D. His work has helped explain the circumstances in which markets do not work well, and how selective government intervention can improve their performance. Recognized around the world as a leading economic educator, he has written textbooks that have been translated into more than a dozen languages.
- Creating a Learning Society: A New Approach to Growth, Development and Social Progress (with Bruce C. Greenwald, Columbia University Press, 2014)
- The Quest for Security: Protection Without Protectionism and the Challenge of Global Governance (with Mary Kaldor, editors, Columbia University Press, 2013)
- The Price of Inequality: How Today’s Divided Society Endangers Our Future, (W.W. Norton and Penguin/Allen Lane, 2012)
- Freefall: America, Free Markets, and the Sinking of the World Economy (W.W. Norton and Penguin/Allen Lane, 2010)
- Globalization and Its Discontents (W.W. Norton June 2001)
Select Honors and Awards
- Nobel Peace Prize (shared), 2007
- Nobel Prize in Economic Science, 2001
- John Bates Clark Award, 1970
- PhD, Economics, MIT
- BA, Amherst College