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Stiglitz’s Ideas on the Current Financial Crisis and Economic Crisis
WANG Han-xia, WU Yi-feng
Teaching and Research
2010, (8):
48-55.
Stiglitz was the one who had sensed the possibility of an outbreak of financial and economic crises in the United States earlier than most others.He analyzed the causes for the current crises and proposed policies against the crises.He criticized market fundamentalism and neo-liberalism,claiming that state intervention in market economy was necessary.He also made predictions about the impact of these crises on the western economic theories.However,because of his New Keynesian position his ideas are not without limitation.
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