Progressive Capitalism for an Age of Discontent

People, Power, and Profits

From Nobel Prize-winning economist and bestselling author Joseph Stiglitz, this account of the dangers of free market fundamentalism reveals what has gone so wrong, but also shows us a way out. 
 
We all have the sense that our economy tilts toward big business, but as Joseph E. Stiglitz explains in People, Power and Profits, a few corporations have come to dominate entire sectors, contributing to skyrocketing inequality and slow growth. This is how the financial industry has managed to write its own regulations, tech companies have accumulated reams of personal data with little oversight, and government has negotiated trade deals that fail to represent the best interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. If something isn't done, new technologies may make matters worse, increasing inequality and unemployment. 
 
Stiglitz identifies the true sources of wealth and increases in standards of living, based on learning, advances in science and technology, and the rule of law. He shows that the assault on the judiciary, universities, and the media undermines the very institutions that have long been the foundation of economic prosperity and democracy. 
 
Helpless though we may feel today, we are far from powerless. In fact, the economic solutions are often quite clear. We need to exploit the benefits of markets while taming their excesses, making sure that markets work for people and not the other way around. If enough rally behind this agenda for change, we can create a progressive capitalism that will recreate a shared prosperity. Stiglitz shows how a decent middle-class life can once again be attainable by all.

This eminent economist provides an authoritative defence of government intervention using mainstream economics and a justification for how to build a fairer society without sacrificing growth

His conclusions are bleak, his prescriptions radical

People, Power, and Profits builds on Stiglitz's earlier work and adds some pretty big ambitions

Urgent ... Unless rising inequality caused by mismanaged globalization, financial liberalization, and destabilizing technological change is addressed, Stiglitz argues, nostrum-peddling demagoguery will find a receptive audience

Joseph E. Stiglitz was Chairman of the President's Council of Economic Advisers 1995-7 and Chief Economist at the World Bank 1997-2000. He won the Nobel Prize for Economics in 2001 and is the bestselling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work, Freefall, The Price of Inequality, The Great Divide and The Euro, all published by Penguin.

We all have the sense that our economy tilts toward big business, but, as Joseph E. Stiglitz explains in People, Power, and Profits, a few corporations now dominate entire sectors, contributing to skyrocketing inequality and slow growth. This is how the financial industry has managed to write its own regulations, tech companies have accumulated reams of personal data without oversight, and the government has negotiated trade deals that fail to represent the interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. New technologies may make matters worse, increasing inequality and unemployment. 
 
Stiglitz identifies the true sources of wealth and of increases in standards of living, based on learning, advances in science and technology, and the rule of law. He shows that the assault on the judiciary, universities, and the media undermines the very institutions that have long been the foundation of economic prosperity and democracy. He sets out the economic solutions which will exploit the benefits of markets while taming their excesses, and how a decent middle-class life can once again be attainable for all.

And its Threat to the Future of Europe

The Euro

Can the Euro be saved? Should it be? 
 
Nobel prize-winning economist Joseph E. Stiglitz dismantles the prevailing consensus around what ails Europe - arguing that economic stagnation is a direct result of the Euro's flawed birth, demolishing the champions of austerity and offering solutions that can rescue the continent from further devastation. 
 
'Stiglitz could hardly have timed The Euro better ... one of those economists with a rare ability to help readers understand complex ideas' Philip Aldrick, The Times 
 
'Original, hard-hitting ... Much more than a demolition job. These chapters are full of constructive proposals' Martin Sandbu, Financial Times 
 
'Terrific and clarifying' Peter Goodman, The New York Times 
 
'Coolly analytical ... he is surely right: without a radical overhaul of its workings, the Euro seems all but certain to fail' Economist

Highly readable ... passionately written ... this important book will unnerve millions

Stiglitz could hardly have timed The Euro better ... one of those economists with a rare ability to help readers understand complex ideas

Coolly analytical ... he is surely right: without a radical overhaul of its workings, the Euro seems all but certain to fail

Joseph E. Stiglitz was Chairman of the President's Council of Economic Advisers 1995-7 and Chief Economist at the World Bank 1997-2000. He is currently University Professor at Columbia University, teaching in the Department of Economics, the School of International and Public Affairs, and the Graduate School of Business. He is also the Chief Economist of the Roosevelt Institute and a Corresponding Fellow of the Royal Society and the British Academy. He won the Nobel Prize for Economics in 2001 and is the bestselling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work, Freefall, The Price of Inequality, The Great Divide and Power, People, and Profits, all published by Penguin.

Anti-Globalization in the Era of Trump

Globalization and Its Discontents Revisited

Hardback was a Sunday Times top ten best-seller for three weeks.

**Over 1 million copies sold worldwide** 
MAJOR NEW EDITION 
 
From Nobel laureate Joseph Stiglitz, Globalization and its Discontents is the bestselling exposé of the all-powerful organizations that control our lives. 
 
Joseph Stiglitz's landmark book lifted the lid on how globalization was hurting those it was meant to help. Many of its predictions came true, and it became a touchstone in the debate. This major new edition looks afresh at the continuing mismanagement of globalization, and how it has led to our current political and economic discontents. Globalization can still be a force for good, Stiglitz argues. But the balance of power has to change. Here he offers real, tough solutions for the future. 
 
 'A massively important political as well as economic document ... we should listen to him urgently' Will Hutton, Guardian 
 
 'Stiglitz is a rare breed, an heretical economist who has ruffled the self-satisfied global establishment that once fed him. Globalization and its Discontents declares war on the entire Washington financial and economic establishment' Ian Fraser, Sunday Herald 
 
 'Gripping ... this landmark book shows him to be a worthy successor to Keynes' Robin Blackburn, Independent

In this hugely controversial book, the most recent winner of the Nobel Prize for Economics argues that though globalization should be a powerful force for good, it has been badly mishandled by the West (especially its lead institutions, the World Bank and the IMF), and that the anti-globalizing protestors have much to say that we should listen to.  Coming from a figure of Stiglitz's background and authority, this is an explosive message which will change the way we regard modern global politics.

The Great Divide

Why has inequality increased in the Western world - and what can we do about it? In The Great Divide, Joseph E. Stiglitz expands on the diagnosis he offered in his best-selling book The Price of Inequality and suggests ways to counter this growing problem. With his characteristic blend of clarity and passion, Stiglitz argues that inequality is a choice - the cumulative result of unjust policies and misguided priorities. 
 
In these essays, articles and reflections, Stiglitz fully exposes the inequality - from its dimensions and its causes to its consequences for the world - that is afflicting America and other Western countries in thrall to neoliberalism. From Reagan-era policies to the Great Recession and its long aftermath, Stiglitz delves into the processes and irresponsible policies - deregulation, tax cuts for the rich, the corruption of the political process - that are leaving many people further and further behind and turning the dream of a socially mobile society into an ever more unachievable myth. With formidable yet accessible economic insight, he urges us to embrace real solutions: increasing taxes on corporations and the wealthy; investing in education, science, and infrastructure; helping homeowners instead of banks; and, most importantly, doing more to restore the economy to full employment. Stiglitz's analysis reaches beyond America - the inequality leader of the developed world - to draw lessons from Scandinavia, Singapore, and Japan, and he argues against the tide of unnecessary, destructive austerity that is sweeping across Europe. 
 
Ultimately, Stiglitz believes our choice is not between growth and fairness; with the right policies, we can choose both.

The Price of Inequality

Nobel Laureate Joseph Stiglitz explains why we are experiencing such destructively high levels of inequality - and why this is not inevitable 
 
 The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn - too late. 
 
 In this timely book, Joseph Stiglitz identifies three major causes of our predicament: that markets don't work the way they are supposed to (being neither efficient nor stable); how political systems fail to correct the shortcomings of the market; and how our current economic and political systems are fundamentally unfair. He focuses chiefly on the gross inequality to which these systems give rise, but also explains how inextricably interlinked they are. Providing evidence that investment - not austerity - is vital for productivity, and offering realistic solutions for levelling the playing field and increasing social mobility, Stiglitz argues that reform of our economic and political systems is not just fairer, but is the only way to make markets work as they really should. 
 
 Joseph Stiglitz was Chief Economist at the World Bank until January 2000. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. He won the Nobel Prize for Economics in 2001 and is the best-selling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work and Freefall, all published by Penguin.

Free Markets and the Sinking of the Global Economy

Freefall

Out of the crisis of our times, Joseph Stiglitz's Freefall: Free Markets and the Sinking of the Global Economy is a convincing, coherent and humane account that goes to the heart of how we run our societies. 
 
 When the world economy went into freefall, so too did our unquestioning faith in markets. But what happens now? Are bailouts and stern lectures enough, or do we need a rethink of our entire financial system? 
 
 This acclaimed and inspiring book, by one of the world's leading economic thinkers, dissects the flawed ideas that led to the credit crunch, but also looks to the future. Drawing on his years spent shaping policy at the World Bank, Nobel Laureate Joseph Stiglitz shows why far more radical reforms are needed to avoid future crises, why the cost of recovery should be borne by the financial sector, and how we now have the opportunity to create a new global economic order. 
 
 'Bang on the money ... unafraid to ask tough questions ... we need more of his ilk' &amp;nbsp;&amp;nbsp;Will Hutton, Observer 
 
 'A brilliant analysis ... always enthralling' &amp;nbsp;&amp;nbsp;Martin Jacomb, Spectator Business 
 
 'A powerful new book' &amp;nbsp;&amp;nbsp;Devin Leonard, The New York Times 
 
 'A seer of almost Keynesian proportions ... this is Joe Stiglitz's victory lap' &amp;nbsp;&amp;nbsp;Michael Hirsh, Newsweek 
 
 Joseph Stiglitz was Chief Economist at the World Bank until January 2000. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. He won the Nobel Prize for Economics in 2001 and is the author of the best-selling Globalization and Its Discontents, Making Globalization Work, The Roaring Nineties and The Price of Inequality, all published by Penguin.

This devastating and inspiring book, by one of the world's leading economic thinkers, lays out not only the course of the financial crisis which began in 2007, but its underlying causes, and shows why much more radical reforms are needed than are currently being contemplated if we are to avoid similar 'systemic' crises in the future. It shows why the bailout has been only marginally effective and how it could have been much more so, and outlines the enormous opportunity - not yet taken - to design a new global financial architecture. It is highly critical of many of the actions not only of George Bush's administration, but also of Barack Obama's. It shows why the bulk of the cost of recovery should be borne by those in the financial sector - not just for reasons of natural justice, but for compelling economic reasons also. More than any of this, it reminds readers to think constantly about what economies are for, and the human purposes they serve. 
 
Freefall is an instant classic, combining an enthralling whodunit account of the current crisis with a bracing discussion of the broader economic issues at stake.

The Next Steps to Global Justice

Making Globalization Work

The follow up to the bestselling Globalization and its Discontents, which sold over 20,000 hardbacks and 125,000 paperbacks in the UK; over 1 million copies sold worldwide

From Nobel Prize winner Joseph Stiglitz, Making Globalization Work gives real, concrete ways to deal with third world debt, make trade fair and tackle global warming. 
 
 In Globalization and its Discontents Joseph Stiglitz changed the views of the public and world leaders alike by showing why globalization doesn't work for the world's poor. 
 
 In this bold, ambitious follow-up, Stiglitz shows how powerful organizations such as the UN, the IMF and the World Bank can be made to consider everyone's interests. 
 
 Stiglitz examines how change has occurred rapidly over the past four years, proposing solutions and looking to the future. He puts forward radical new solutions to the seemingly intractable international problems which we face - in forms that are more likely to be accepted both by the US and the developing world than previous proposals. 
 
 Another world is possible, he argues, and is not only morally right, but of benefit to us all. 
 
 'Passionate, engaging ... he speaks from the heart as well as the head' &amp;nbsp;&amp;nbsp;Independent 
 
 'The man with a mission to save the poor ... offers a wealth of ideas for global reform' &amp;nbsp;&amp;nbsp;The Times 
 
 'A searing critique of conventional wisdom' &amp;nbsp;&amp;nbsp;Newsweek 
 
 'An excellent book ... a lodestar for those who want to achieve a different and better world' &amp;nbsp;&amp;nbsp;Guardian 
 
 Joseph Stiglitz is one of the world's best-known economists. He was Chief Economist at the World Bank until January 2000. Before that he was Chairman of President Clinton's Council of Economic Advisers. He is currently Professor of Finance and Economics at Columbia University. He won the Nobel Prize for Economics in 2001 and is the author of the bestselling Globalization and Its Discontents and The Roaring Nineties, both published by Penguin.

Stiglitz has written an excellent book that can act as a lodestar for those who want to achieve a different and better world

Why isn't globalization benefitting as many people as it should? Joe Stiglitz shows us that things can change and that an optimistic world can exist where globalization really does work. 
 
Stiglitz examines how change has occurred rapidly over the past four years, proposing solutions and looking to the future. He puts forward radical new ways of dealing with the crippling indebtedness of developing countries, a new system of global reserves to overcome international financial instability and a new framework, combining economic incentives and principles of equity, for dealing with the greatest threat to our planet, global warming &ndash; one which is more likely to be accepted both by the US and the developing world than previous proposals. He argues convincingly for the reform of global institutions such as the UN, the IMF and the World Bank to make them truly capable of responding to the problems of our age and shows why treating developing countries more fairly is not only morally right, but ultimately will be to the benefit of the developed countries as well.

Why We're Paying the Price for the Greediest Decade in History

The Roaring Nineties

From the author of the best-selling Globalization and Its Discontents

From the author of Globalization and its Discontents, Joseph Stiglitz's The Roaring Nineties: Why We're Paying the Price for the Greediest Decade in History blows the whistle on the devastation wrought by the free market mania of the nineties. 
 
 This is the explosive story of how capitalism US-style got its comeuppance: how excessive deregulation, government pandering to big business and exorbitant CEO salaries all fed the bubble that burst so dramatically amid corporate scandal and anti-globalization protest. 
 
 As chief economic advisor to the president at the time, Stiglitz exposes the inside of what went wrong, but also reveals how Bush's administration is now making things worse - much worse - for the economy, the US and the rest of the world. Stiglitz takes us one step further, showing how a more balanced approach to the market and government can lead not only to a better economy, but a better society. 
 
 'A searing critique of Dubyanomics ... the nobel laureate who took on the IMF is now turning his guns on the American president. Stiglitz knows when to pick a fight' &amp;nbsp;&amp;nbsp;Observer 
 
 'One of the most important economic and political thinkers of our time' &amp;nbsp;&amp;nbsp;Independent on Sunday 
 
 'Stiglitz has become a hero to the anti-globalization movement' &amp;nbsp;&amp;nbsp;Economist 
 
 'An iconic figure ... Stiglitz's book will encourage those who wish to halt the partial Americanization that has already taken place in Europe' &amp;nbsp;&amp;nbsp;Daily Telegraph 
 
 Joseph Stiglitz was Chief Economist at the World Bank until January 2000. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. He won the Nobel Prize for Economics in 2001 and is the author of the best-selling Globalization and Its Discontents, Making Globalization Work, Freefall and The Price of Inequality, all published by Penguin.

From the Nobel Prize-winning author of Globalization and Its Discontents comes a corruscating analysis of the boom and bust of the 1990s - how and why it happened, how the seeds of destruction were sown in the midst of apparent prosperity, and how America and the world are still failing to learn the lessons from what went wrong. 
 
The Roaring Nineties is in part the story of how the corrupt and greedy got their comeuppance. But Stiglitz also develops a convinving alternative to the free-market mantra. He shows why greed is not good and how if left unchecked it leads to deceptions, distortions and disasters. He argues that achieving the right balance between government and the market is the best way towards sustained growth and efficiency, and that both companies and economies must to some extent be regulated by trust and consideration for others. This isn't just good morality - it's good economics too.

Joseph E. Stiglitz

Stiglitz is a rare combination of virtuoso economist, witty polemicist and public intellectual

The Road to Freedom ... seeks to reclaim the concept of freedom for liberals and progressives [and] calls for the creation of a “progressive capitalism'' that would look nothing like the neoliberal variant.

Along with Krugman and Thomas Piketty, Stiglitz forms a triumvirate of leading economic critics of global capitalism, 21st-century-style.

Economics and the Good Society

Despite its manifest failures, the narrative of neoliberalism retains its grip on the public mind and the policies of governments all over the world. By this narrative, less regulation and more ‘animal spirits’ capitalism produces not only greater prosperity, but more freedom for individuals in society - and is therefore morally better. 
 
But, in The Road to Freedom Stiglitz asks, whose freedom are we – should we be – thinking about? What happens when one person’s freedom comes at the expense of another’s? Should the freedoms of corporations be allowed to impinge upon those of individuals in the ways they now do? 
Taking on giants of neoliberalism such as Hayek and Friedman and examining how public opinion is formed, Stiglitz reclaims the language of freedom from the right to show that far from ‘free’ – unregulated – markets promoting growth and enterprise, they in fact reduce it, lessening economic opportunities for majorities and siphoning wealth from the many to the few – both individuals and countries. He shows how neoliberal economics and its implied moral system have impacted our legal and social freedoms in surprising ways, from property and intellectual rights, to education and social media. 
 
Stiglitz’s eye, as always, is on how we might create the true human flourishing which should be the great aim of our economic and social system, and offers an alternative to that prevailing today. The Road to Freedom offers a powerful re-evaluation of democracy, economics and what constitutes a good society—and provides a roadmap of how we might achieve it.

The Road to Freedom

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Praise for The Road to Freedom

Stiglitz is a rare combination of virtuoso economist, witty polemicist and public intellectual

The Road to Freedom ... seeks to reclaim the concept of freedom for liberals and progressives [and] calls for the creation of a “progressive capitalism'' that would look nothing like the neoliberal variant.

Along with Krugman and Thomas Piketty, Stiglitz forms a triumvirate of leading economic critics of global capitalism, 21st-century-style.

Stiglitz is a rare combination of virtuoso economist, witty polemicist and public intellectual

The Road to Freedom ... seeks to reclaim the concept of freedom for liberals and progressives [and] calls for the creation of a “progressive capitalism'' that would look nothing like the neoliberal variant.

Along with Krugman and Thomas Piketty, Stiglitz forms a triumvirate of leading economic critics of global capitalism, 21st-century-style.

Stiglitz is a rare combination of virtuoso economist, witty polemicist and public intellectual

The Road to Freedom ... seeks to reclaim the concept of freedom for liberals and progressives [and] calls for the creation of a “progressive capitalism'' that would look nothing like the neoliberal variant.

Along with Krugman and Thomas Piketty, Stiglitz forms a triumvirate of leading economic critics of global capitalism, 21st-century-style.

Books by Joseph E. Stiglitz

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