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Nobel Prize-Winning Economist Joseph Stiglitz On America's Freefall

Steve Scher
11/03/2011 at 10:00 a.m.

The US economy shows some brighter spots in otherwise dark surroundings, but it's not enough to dig us out us the long downturn, according to Joseph Stiglitz. In his new book, "Freefall: America, Free Markets And The Sinking Of The World Economy," Stiglitz argues that the great recession was caused by an imbalance between government and the market. He talks to Steve Scher about the need for a rebalancing in America and globally. From new international currency to new housing policy, Joseph Stiglitz tries to find some bright spots in a dreary future.

Also, Marcie Sillman talks to the creators of the world premiere stage adaptation of the classic film noir, "Double Indemnity."


Joseph Stiglitz won the Nobel Prize for his work on shared information in the economy. He has written textbooks that have been translated into more than a dozen languages, and he was founder of The Journal of Economic Perspectives. He's the author of "Globalization And Its Discontents," which sold more than one million copies worldwide. Other recent books include "The Roaring Nineties; Towards A New Paradigm In Monetary Economics," "Fair Trade For All; Making Globalization Work" and "The Three Trillion Dollar War: The True Cost Of The Iraq Conflict." His latest book is "Freefall: America, Free Markets And The Sinking Of The World Economy."

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