The Dangers of Deficit Reduction

About the Author

Joseph Stiglitz
Co-President
Initiative for Policy Dialogue

Joseph E. Stiglitz is co-founder and Executive Director of the Initiative for Policy Dialogue at Columbia University, for which he also co-chairs the macroeconomics, Capital Market Liberalization, and Intellectual Property task forces. Dr. Stiglitz holds joint professorships at Columbia University's Economics Department and its Business School. From 1997 to 2000 he was the World Bank's Senior Vice President for Development Economics and Chief Economist. From 1995- 97 he served as Chairman of the U.S. Council of Economic Advisers and as a member of President Clinton's cabinet. From 1993 to 1995 he was a member of the Council of Economic Advisers. He was previously a professor of economics at Stanford, Princeton, Yale, and All Souls College. Dr. Stiglitz is a leading scholar of the economics of the public sector and was awarded the Nobel Prize in Economics in 2001 in addition to the American Economic Association's biennial John Bates Clark Award in 1979. His work has been recognized through his election as a fellow to the National Academy of Sciences, the American Academy of Arts and Sciences, the Econometric Society, and the British Academy.