Oct 03 2010

Stiglitz: Dear Tea Bag Party, Government is Absolutely Essential

(4 pm. – promoted by ek hornbeck)

President Obama, this is the man who should head your Economic Council along with Robert Reich, Paul Krugman and Nouriel Roubini. Watch the entire video, it is an education in the current economic situation and how we got here.

Complete video at: Joseph Stiglitz: Freefall Commonwealth Club

What would Nobel Prize-winning economist Joseph Stiglitz say at a Tea Party convention? Stiglitz says he would defend the role of government in economic affairs, positing that the bank bailout saved the country from depression.

Joseph Stiglitz, winner of the 2001 Nobel Prize Winner for Economics and author of Freefall sits down with Andrew Leonard, Senior Technology and Business Writer for Salon.

Stiglitz argues that America exported bad economics, bad policies and bad behavior to the rest of the world. Stiglitz outlines a way forward building on ideas that he has championed his entire career: restoring the balance between markets and government; addressing the inequalities of the global financial system; and demanding more good ideas (and less ideology) from economists. – Commonwealth Club of California

Joseph Stiglitz was chief economist at the World Bank until January 2000. Before that he was the chairman of President Clinton’s Council of Economic Advisers. He was awarded the Nobel Prize in economics in 2001. He is currently a finance and economics professor at Columbia University. He is most recently the author of Freefall: America, Free Markets, and the Sinking of the World Economy.

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