Bücher von Joseph E. Stiglitz

From Nobel Prize-winning economist and best-selling author Joseph Sitglitz, author of Globalization and Its Discontents, this is the essential, must-read guide to the future of Europe.Solidarity and prosperity fostered by economic integration: this principle has underpinned the European project from the start, and the establishment of a common currency was supposed to be its most audacious and tangible achievement. Since 2008, however, the European Union has ricocheted between stagnation and crisis. The inability of the eurozone to match the recovery in the USA and UK has exposed its governing structures, institutions and policies as dysfunctional and called into question the viability of a common currency shared by such different economies as Germany and Greece.Designed to bring the European Union closer together, the euro has actually done the opposite: after nearly a decade without growth, unity has been replaced with dissent and enlargements with prospective exits. Joseph Stiglitz argues that Europe's stagnation and bleak outlook are a direct result of the fundamental flaws inherent in the euro project - economic integration outpacing political integration with a structure that promotes divergence rather than convergence. Money relentlessly leaves the weaker member states and goes to the strong, with debt accumulating in a few ill-favoured countries. The question then is: Can the euro be saved?Laying bare the European Central Bank's misguided inflation-only mandate and explaining why austerity has condemned Europe to unending stagnation, Stiglitz outlines the fundamental reforms necessary to the structure of the eurozone and the policies imposed on the member countries suffering the most. But the same lack of sufficient political solidarity that led to the creation of a flawed euro twenty years ago suggests that these reforms are unlikely to be adopted. Hoping to avoid the huge costs associated with current policies, Stiglitz proposes two other alternatives: a well-managed end to the common currency; or a bold, new system dubbed 'the flexible euro.' This important book, by one of the world's leading economists, addresses the euro-crisis on a bigger intellectual scale than any predecessor.

A forceful argument against America's vicious circle of growing inequality by the Nobel Prize winning economist."

Nobel Laureate Joseph Stiglitz explains why we are experiencing such destructively high levels of inequality - and why this is not inevitable The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn - too late. In this timely book, Joseph Stiglitz identifies three major causes of our predicament: that markets don't work the way they are supposed to (being neither efficient nor stable); how political systems fail to correct the shortcomings of the market; and how our current economic and political systems are fundamentally unfair. He focuses chiefly on the gross inequality to which these systems give rise, but also explains how inextricably interlinked they are. Providing evidence that investment - not austerity - is vital for productivity, and offering realistic solutions for levelling the playing field and increasing social mobility, Stiglitz argues that reform of our economic and political systems is not just fairer, but is the only way to make markets work as they really should. Joseph Stiglitz was Chief Economist at the World Bank until January 2000. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. He won the Nobel Prize for Economics in 2001 and is the best-selling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work and Freefall, all published by Penguin.