Joseph Stiglitz was born in 1943, in Gary, Indiana. He graduated with a BA from Amherst College in 1964 and went on to complete his PhD at MIT in 1966. He began his academic career as Assistant Professor of Economics at MIT (1966–67) before becoming Assistant Professor (1967–68) then Associate Professor (1968–70) at the Cowles Foundation, Yale University. Since 1970 Joseph Stiglitz has been Professor of Economics at Yale University (1970–74); Stanford University (1974–76); Oxford University (1976–79); Princeton University (1979–88) and from 1988 to 2001 at Stanford University (on leave 1993–99). He is currently Professor of Economics at Columbia University. In 1979 he was the winner of the prestigious John Bates Clark Medal from the American Economics Association, an award given to the most distinguished economist under the age of forty. From 1993 to 1997 Professor Stiglitz was a member of the US President’s Council of Economic Advisors, becoming Chair of the CEA in June 1995. From February 1997 until his resignation in November 1999, he was Senior Vice President and Chief Economist at the World Bank. Professor Stiglitz is internationally recognised as one of the world’s leading economists and has published an astonishing number of articles which by 1993 was in excess of three hundred! In October 2001 Professor Stiglitz was awarded the Nobel Prize in Economics (together with George Akerlof and Michael Spence) in recognition for his analysis of markets with asymmetric information. He is best known for his pioneering...
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