The Roaring Nineties has ratings and 26 reviews. With his best-selling Globalization and Its Discontents, Joseph E. Stiglitz showed how a misplaced faith. The Roaring Nineties. A New History of the World’s Most Prosperous Decade. Joseph E. Stiglitz (Author, Columbia University). Sign up for the monthly New. Only a Nobel Prize-winning economist could disguise a political broadside against conservatives and the George W. Bush administration inside a Trojan horse.

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We were against Reagan conservatism, we knew there needed to be a ioseph and different role for government, that we needed to be more concerned for the poor and for providing education and social protection for all, and we needed to protect the environment. This is the best history of the s that I have read anywhere.

Sincehe has been a member of the Columbia faculty, and has held the rank of University Professor since Refresh and try again. We had a heated debate roring banking reform. Oct 22, Karen rated it it was ok.

The Internet was an invention of technology that was discovered not nineies the nineties but in earlier decades. I think we can say today, that we are seeing how prosperous we really were. Andrea Garfield rated it really liked it Aug 22, This book does a fair job of analyzing some of what happened in the 90’s.

I agree with a lot of his opinions as expressed in this book, but would have preferred to learn more actual facts, and to have the opinions accompanied by more discussion of the unfolding of actual events in ways that support his opinions.

We talk about the principle of comparative advantage: Let me give a brief story that illustrates the point.


The Roaring Nineties: Seeds of Destruction by Joseph Stiglitz | Business | The Guardian

The current recovery was based on low interest rates that did not lead to more investment. The challenge today is to regain that balance, to learn the lessons of the tumultuous decade of the nineties and the years that have followed. Not moseph long ago many of us were privileged to listen to a discussion of Dr. Fair Disclosure would be terrible; it will undermine; if you have to disclose it fairly, we won’t disclose anything.

The Roaring Nineties

Stiglitz knows when to stkglitz a fight’ Observer ‘One of the most important economic and political thinkers of our time’ Independent on Sunday ‘Stiglitz has become a hero to the anti-globalization movement’ Economist ‘An iconic figure In some ways we failed to get that balance right. Coming to the book, this is a follow up to his book on globalization he dedicates a chapter on globalization though.

Stiglitz sees parallels between what went wrong with globalization abroad and nineies went wrong with America in the nineties. The money could have been better spent targeting the very poor, for whom money is a real obstacle – whose parents do not pay taxes. Di sisi lain, sistem perekonomian modern nyaris mendekati titik nadir.

Stiglitz’s insight as an economist are excellent and his access is outstanding: Since then we have been living off the strength of the past. Innovation in one period depends on basic research that is done in an earlier period, mostly in the public sector. Here the story of the Clinton Administration is very simple, and it has been repeated so often and so forcefully that it is believed by most people.


The standard interpretation of what we did, I argue, is not only wrong but dangerous. But the real fault lies with our macroeconomic policy, our fiscal policy, that is reflected in our trade deficit, and our failure to stimulate the economy, which we could have done given the huge surplus that Bush inherited.

The fruits of irrationality

The CEOs’ compensation increased enormously during the s, partly because many people didn’t know about what was going on. I learned a few interesting things from this book, but overall it was too polemical with too little detail about the actual events I hoped he had witnessed in his time on the Council of Economic Advisers and at the World Bank, and would share in the book. We have lost 2. Distorted incentives combined with irrational exuberance induced America’s new financial behemoths to provide the finance that underwrote the bubble; they made billions from the initial public offerings and the deceptive boosting of their favoured stocks, even if gains had to come at the expense of someone – in most cases, ordinary shareholders.

The data don’t reflect any effect of the speech. He is an unabshed gung-ho Clinton partisan and proudly boasts about that Administrations economic legacy. We cut capital gains taxes, saying to the market: In fact that is not the case, because the Fed has had a political agenda. We have been dis-investing, and our households have been getting more and more in debt.