Whither Socialism? (The Wicksell Lectures)

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9780262193405: Whither Socialism? (The Wicksell Lectures)

Expanding on the Wicksell Lectures he presented at the Stockholm School of Economics in April 1990, Stiglitz (economics, Stanford U.; member, President Clinton's Council of Economic Advisers) explores the issues of both economic policy and theory now confronting nations in transition from market socialism to market economies. He presents a critique of the dominant neoclassical or Walrasian economic model, and presents his own alternative paradigm, based on an economics of information which delves more deeply into the theoretical and practical workings of market economies, socialism, and market socialism. Annotation copyright Book News, Inc. Portland, Or.

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About the Author:

Joseph E. Stiglitz, a Fellow of the American Academy of Arts and Sciences since 1983, is University Professor at Columbia University. He won the Nobel Prize in economicscience in 2001. His recent books include Globalization and Its Discontents (2002) and The Roaring Nineties: A New History of the World's Most Prosperous Decade (2003). He is indebted to the MacArthur, Mott, and Ford Foundations for financial support.

Review:

Guiding the Eastern bloc's move to the market is the great policy problem of our day. joe Stigliz shows how economic theory, sensitively used, can inform policies toward the transition. His book will give pause to skeptics of the applicability of modern economics but also caution those inclined to apply it mechanically. For economists offering policy recommendations, whatever their ideological stripe, this book is a must.

(Barry Eichengreen, Dept of Economics, University of California)

A disproportionate amount of the best in modern economics is Stiglitz's creation. This book uses it to illuminate a classic question concerning the organization of the public side of our lives. Judged in terms of both depth and reach, this elegantly written volume is never less than what we have come to expect for one of the most significant social thinkers of our time.

(Partha Dasgupta, University of Cambridge)

Whither Socialism? is to be recommended. It offers deep new thinking on a big subject: the role of the state. It is rigorous and accessible, a rare combination.

(The Economist)

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