Joe Stiglitz brings the fire and brimstone

In an article in the January 2009 Vanity Fair, Nobel Prize-winning economist and former Clinton economic advisor Joseph E. Stiglitz points a few fingers (or maybe just the middle one) at the individuals and the laissez-faire mindset that he deems responsible for the current mess.  It’s a good, intense read.

Not hard to see why Stiglitz parted ways with the Clinton Administration in 1997 (Jonathan Chait tells the tale in this 1999 article), or why Washington might not be his kind of town, but I do hope his views will get a hearing in the Obama Administration, even if Stiglitz himself is elsewhere.

UPDATE:  Stiglitz proposes a 2-year, $1 trillion stimulus package, plus measures to stem the tide of foreclosures, in this Nov. 29 NYT op-ed.

UPDATE #2:  While Stiglitz is not among Obama’s economic advisers, a fact that many liberal economists have lamented, this article says that some key members of Obama’s economic team, notably Peter Orzsag and Jason Furman, are Stiglitz proteges (, 2 Dec. 2008).


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