“Mr. Stiglitz uses his experience teaching to give the lay reader a lucid account of how overleveraged banks, a shoddy mortgage industry, predatory lending and unregulated trading contributed to the meltdown, and how, in his opinion, ill-conceived rescue efforts may have halted the freefall but have failed to grapple with more fundamental problems…. His prescience lends credibility to his trenchant analysis of the causes of the fiscal meltdown.” — Michiko Kakutani (The New York Times)
“[W]hat brings this book to life is his formidable grasp of economic policy and strong sense of conviction about the blunders that have been made, especially with respect to the bank bailouts.” — Jim Zarroli, NPR business reporter (NPR)
“Asks some basic and provocative questions… is a must-read for anyone seeking to understand the roots of the financial crisis. Stiglitz brilliantly analyzes the economic reasons behind the banking collapse, but he goes much further, digging down to the wrongheaded national faith in the power of free markets to regulate themselves and provide wealth for all.” — Chuck Leddy (Boston Globe)
“As a Nobel Prize winner, member of the cabinet under former President Bill Clinton and chairman of his Council of Economic Advisers, Joseph E. Stiglitz has some practical ideas on how to ease the pain of the Great Recession and maybe help prevent the next one.” — Carl Hartman (Associated Press)
“ is a spirited attack on Wall Street, the free market and the Washington consensus.” — David Smith (The Times [London])
About the Author
Joseph E. Stiglitz is a Nobel Prize-winning economist and the best-selling author of The Price of Inequality, Freefall, and Globalization and Its Discontents. He is a columnist for the New York Times and Project Syndicate and has written for Vanity Fair, Politico, The Atlantic, and Harper's. He teaches at Columbia University and lives in New York City.