Keyword: Joseph Stiglitz
Nobel prize-winner Joseph Stiglitz said Germany's influence on economic policy of President Hollande involved 'a kind of intimidation'.
"The moment of rethinking capitalism in America has gone", bemoans Joseph E. Stiglitz, winner of the Nobel prize in economics, former World Bank chief economist and now professor of economics at Columbia University, in this exclusive interview with Mediapart. Stiglitz says the height of the current economic crisis was a lost opportunity to re-order the economy, "one of those rare moments, many of us thought a Roosevelt-ian moment" but "as soon as the fire was brought down, the political influences of the banks came back."
Back in September 2010, former World Bank chief economist Joseph Stiglitz told Mediapart in a series of video interviews why austerity plans were "counter-productive", threatening a "double-dip recession", and warned how the flawed and derided financial practices that led to the 2008 crash were back in business. "It is conceivable that one or more countries would either default or drop the euro", said the 2001 winner of Nobel Prize in Economics. Why was no-one listening?