Joseph Stiglitz, Nobel laureate in Economics, Professor at Columbia University, outlined five interrelated issues underlying the current economic crisis at the 25th Barcelona GSE Lecture on November 5, 2012 : structural transformation, inequality, high oil prices, globalization, and the buildup of global reserves. The building blocks for alternative theories are already available, Prof. Stiglitz said. One of the main challenges going forward will be to integrate microeconomic insights into macroeconomic models.
Stiglitz, one of the most frequently cited economists in the world is renowned for his critical view on the World Bank and is the author of various articles about the current financial crisis as well as of his new book “The Price of Inequality“.
VIDEO: FULL LECTURE with J. Stiglitz: Restoring Growth and Stability in a World of Crisis and Contagion: Lessons from Economic Theory and History.
(length 1:33:17). Also available: LECTURE SUMMARY and SLIDES