The U.S. government has botched its handling of the economy, according to Nobel Prize-winning economist Joseph Stiglitz. He explained how the U.S. created the global recession – and how we can get out of it – in a public presentation on his new book, Freefall: America, Free Markets, and the Sinking of the World Economy, at the Brattle Theatre in Cambridge, Mass., on January 25.
Continue reading my article on Joseph Stiglitz on AdvisorPerspectives.com.
By the way, a reader asked “What about the contribution to the financial crisis of the repeal of the Glass-Steagall Act and the activities of politicians who encouraged reckless lending?” Stiglitz agrees that they also contributed. In fact, as a member of the Clinton administration, he fought Glass-Steagall’s repeal.
Susan B. Weiner, CFA
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Copyright 2010 by Susan B. Weiner All rights reserved