Joseph Stiglitz -- A Dangerous Man, A World Bank Insider Who Defected
The outsiders are environmentalists, labor leaders, students, anarchists. They stand at the barricades, chucking bricks at McDonald's and heresy at the International Monetary Fund. The insiders are elite economists and financial technocrats. They look down from their offices and defend the orthodoxy, insisting that markets deliver efficiency and that trade creates wealth.
Then along comes Joseph Stiglitz -- a dangerous man, an insider who defected.
Stiglitz, an owlish intellectual who reminds audiences of Richard Dreyfuss, probably won't win the Nobel Prize in economics when it is announced this week. But he has earned every other distinction in the field -- a Ph.D. from MIT; the top prize for young economists from the American Economic Association; faculty positions at Yale, Princeton and Stanford. In 1995 he became chairman of President Clinton's Council of Economic Advisers and in 1997 chief economist for the World Bank.
(LOL -- he did win the Nobel Prize.)
Stiglitz takes the debate to a higher level -- not just because he dissects the orthodoxy with its own tools, but because he uses the anecdotes of an insider to confirm the suspicions of the outsiders.
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2006
Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz has predicted a global economic crash within 24 months - unless the current downturn is successfully managed. Asked if the situation was being properly handled Stiglitz emphatically responded "no," and also drew ominous parallels to the development of the NAFTA Superhighway and the North American Union.
Stiglitz caused controversy in October 2001 when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing out their economies.
Speaking on the nationally syndicated Alex Jones radio show, Stiglitz defined the process of globalization as a system that was "rigged against the poor countries, rigged for the advanced industrial countries - the result of that is there were an awful lot of losers."
The Columbia University Professor described how rampant privatization has crippled Mexico, in particular citing the sell-off of major infrastructure such as roads.
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And many, many more -- a simple Google search will further your education.
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