Nobel Prize-winning economist Joseph Stiglitz discusses his impactful career and groundbreaking theories. He shares insights from his eight-hour lecture in Japan, highlights the influence of his debating background, and reflects on his research in Kenyan sharecropping. Stiglitz critiques contemporary economic policies, particularly regarding inequality and labor markets, while exploring the balance of hierarchies versus decentralization in decision-making. He also touches on climate change's impact on global development and the cultural significance of fiction from developing countries.
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Eight-Hour Lecture
Joseph Stiglitz's breakthrough work on increasing risk originated from an eight-hour lecture he delivered in Japan.
This lecture led to a series of papers on corporate governance and market value maximization.
insights INSIGHT
Shareholder Value
Shareholder value maximization does not always lead to overall societal well-being.
The Great Divide is a historical novel by Alan Sullivan, first published in 1935. It depicts the construction of the Canadian Pacific Railway in the 19th century, marking a significant breakthrough in Sullivan's writing career. The novel was well-received by critics and later adapted into a film titled 'The Great Barrier' in 1937.
The Price of Inequality
Joseph Steglize
In 'The Price of Inequality', Joseph Stiglitz argues that economic inequality in the U.S. is not only morally wrong but also detrimental to economic productivity. He contends that political power wielded by the wealthy has shaped markets to their advantage, leading to a self-perpetuating cycle of inequality. Stiglitz offers a vision for a more equitable society through policy reforms.
People, Power, and Profits
Joseph Stiglitz
Roads to Freedom
Bertrand Russell
Roads to Freedom is a trilogy of novels by Jean-Paul Sartre, exploring themes of freedom, responsibility, and existentialism. The novels follow Mathieu, a young man grappling with the complexities of life and his own existence. Sartre's philosophical ideas are woven into the narrative, examining the choices individuals make and the consequences they face. The trilogy delves into the nature of human relationships, political engagement, and the search for meaning in a seemingly absurd world. Roads to Freedom is considered a significant contribution to existentialist literature, offering a profound exploration of human freedom and its implications.
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-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.
Conversations with Tyler 
