Nobel Laureate, IMF Protester

Economist Joseph Stiglitz says the fund should focus on short-term crises: A program of more than two years...is evidence of failure

Columbia University's Joseph E. Stiglitz shared the Nobel prize in economics on Oct. 10 for work begun decades ago that argues free markets don't always work because different players lack equal access to the same information. Even before the Nobel announcement, however, Stiglitz was already well known as a critic of the push by the U.S. government, the International Monetary Fund, and the World Bank for unfettered global trade and capital flows (see BW, 11/26/01, "Don't Use the IMF to Push U.S. Foreign Policy").

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