When and where was Joseph Stiglitz born?
Joseph Eugene Stiglitz was born on the 9th of February, 1943 in Gary, Indiana. He grew up in a Jewish family where his mother Charlotte worked as a schoolteacher and his father Nathaniel David sold insurance.
Questions about Joseph Stiglitz
Short answers, pulled from the story.
Who did Joseph Stiglitz share the 2001 Nobel Memorial Prize with?
Joseph Stiglitz shared the 2001 Nobel Memorial Prize in Economic Sciences with George Akerlof and Michael Spence. Their work laid the foundations for markets with asymmetric information.
Why did Joseph Stiglitz leave the World Bank in 2000?
Treasury Secretary Lawrence Summers successfully petitioned for Joseph Stiglitz's removal from the bank due to their poor relationship throughout his tenure. James Wolfensohn announced the resignation in November 1999 while claiming the post had been abolished rather than firing him.
What is the Shapiro-Stiglitz model about?
The Shapiro-Stiglitz model explains why unemployment persists even when markets reach equilibrium because workers are paid at levels that dissuade shirking. Full employment cannot be achieved because wages do not fall enough during recessions to prevent rising unemployment.
Which book by Joseph Stiglitz won the Robert F. Kennedy Center Book Award in 2013?
Joseph Stiglitz received the Robert F. Kennedy Center Book Award for The Price of Inequality in 2013. His other works include Making Globalization Work which sold more than two million copies according to available records.