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Essay Details:
Essay text:
Written
history helps fill out the empirical record and enhances our understanding of economic
processes. The author took full advantage of his position to write about important changes
in the global economy.
Professor Stiglitz also has much to say about how political factors affected policy at the
IMF, US Treasury, and the World Trade Organization. He claims (p XIII) that ideology and
bad economics thinly veiled the actions of special interests. Private interests lobbied
successfully for alleged privatization and liberalization, resulting in crises. Free market
ideology served as intellectual cover for these interests in efforts to justify alleged
misadventures in privatization...
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