Q&A: JOSEPH STIGLITZ, Nobel Prize Winning Economist and Author

JOSEPH STIGLITZ is University Professor at Columbia University in New York and Chair of Columbia University's Committee on Global Thought. In 2001, he was awarded the Nobel Prize in economics for his analyses of markets with asymmetric information. His work has helped explain the circumstances in which markets do not work well, and how selective government intervention can improve their performance. 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. His book, Globalization and Its Discontents, was translated into 35 languages and has sold more than one million copies worldwide. Other books include Fair Trade for All, Making Globalization Work, and his newest (with Linda Bilmes) THE $3 TRILLION WAR. Three Trillion Dollar War: The True Cost of the Iraq Conflict. According to the book, Americans will spend decades treating the physical and psychological wounds of Iraq veterans — and when the economic consequences of the invasion are taken into account, the costs are staggering. http://www.josephstiglitz.com