After Austerity
This year’s annual meeting of the International Monetary Fund made clear that Europe and the international community remain rudderless when it comes to economic policy. Financial leaders, from finance ministers to leaders of private financial institutions, reiterated the current mantra: the crisis countries have to get their houses in order, reduce their deficits, bring down their national debts, undertake structural reforms, and promote growth. Confidence, it was repeatedly said, needs to be restored.
About the Author
Joseph E. Stiglitz
Professor, Columbia’s School of International and Public Affairs & School of Business
Joseph E. Stiglitz is a professor of finance and business at Columbia University and chair of the University’s Committee on Global Thought. In 2001, Stiglitz was awarded the Nobel Prize in economics for his analyses of markets with asymmetric information. He was a lead author of the 1995 Report of the Intergovernmental Panel on Climate ...
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