Joseph Stiglitz on Pioneering Economic Theories, Policy Challenges, & His Intellectual Legacy | CWT

Nobel Prize-winning economist Joseph Stiglitz joined Tyler for a discussion that weaves through Joe’s career and key contributions, including what he learned from giving an 8-hour lecture in Japan, how being a debater influenced his intellectual development, why he tried to abolish fraternities at Amherst, how studying Kenyan sharecropping led to one of his most influential papers, what he thinks today of Georgism and the YIMBY movement, why he was too right-wing for Cambridge, why he left Gary, Indiana, his current views on high trading volumes and liquidity, the biggest difference between him and Paul Krugman, what working in Washington, DC taught him about hierarchies, what he’ll do next, and more.
Recorded April 22nd, 2024
Transcript and links: conversationswithtyler.com/ep...
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[@danecjensen]

Chapters (Powered by ChapterMe and @danecjensen) -
00:00 - Nobel Prizewinning economist Joseph Stiglitz discusses career evolution
00:56 - Lectures stimulate audiences understanding of corporate governance
05:39 - Amherst abolished fraternities in 1980
09:21 - Reflecting on his visits to Kenya in the 1960s
14:15 - Interlinking markets and cities Henry Georges insights
17:43 - Taxing landlords land, not buildings
18:57 - Economics of information tries to clarify tax principles
20:46 - Cambridge University tutor Joan Robinson My mind had been ruined
22:47 - I learned a lot from my tutor, Frank Khan
23:26 - MITs choice stay in Gary, see world
23:46 - Growing up in Gary, Indiana, influenced economics and coauthorship
26:51 - Coauthors Andy Weiss, Aminash Braverman, Fisher Black
29:01 - Impossibility of informationally efficient markets in 1980
33:31 - Model used for strategic trade policy
33:57 - Market power, resilience, and strategic trade policies
36:45 - US trade policies harm other countries
37:55 - Krugman Monetary policy plays bigger role than fiscal policy
39:27 - US credit rationing and housing bubble contributed to financial crisis
41:51 - Home prices now reasonable, efficiency wage theory contribution
44:30 - The importance of taking a broader view of the labor market
49:04 - Renewable energy advantages for developing countries
51:04 - Climate change, Hugo Chavez, Polands success, shock therapy
53:28 - Polands gradual economic reform
56:23 - The Road to Freedom, Economics, and the Good Society

[@BandytaCzasu]

So, the Polish success is not the neck-breaking hard work of millions of Poles when Balcerowicz told them they're on their own, it's the "institutions". The bureaucrats and the EU saved the Poles, who were sitting and drinking vodka i guess. No wonder nobody is treating the Academia seriously anymore. The real experts are in the private sector.

[@abitbohr]

The words of Mr Stiglitz are disgusting when he speaks laughingly about "colonial" families being massacred in riots fueled by racial hatred; and then blaming the victims by imputing the failures of uneducated civil servents on the "colons" not teaching them.