Stiglitz's prescriptions

In his book, he argues that the American system of capitalism has fallen down and needs government help to get back up again

PEOPLE, POWER, AND PROFITS
 

Progressive Capitalism for an Age of Discontent

Joseph E Stiglitz

W W Norton & Company; $27.95; 371 pages

A diverting Beltway pastime during the heyday of the Washington Consensus was to gently mock Joseph E Stiglitz. It was remarkably easy for pundits to wave away his prestigious awards (Nobel Prize in Economics) and positions (World Bank chief economist, chairman of Bill Clinton’s Council of Economic Advisers) and dismiss his warnings about “market fundamentalism” as overripe hyperbole. In 2004 the financial columnist Sebastian Mallaby described Stiglitz as “like a boy who discovers a hole in the floor