Joseph Stiglitz : Government Regulation Key to Healthy Economy

While some point to the economically stable decades following the Great Depression as a triumph of the free market, Nobel Prize-winning economist Joseph Stiglitz begs to differ. In reality, he says, these years were made possible by careful government intervention and regulation.



Visiting Nobel Laureate and global economist Professor Joseph Stiglitz believes Australia's good fortune in being sheltered from the worst of the GFC means we may not fully comprehend its impact internationally.

On his tour of Australia, he comments on the state of the Australian economy, particularly in context of the Global Financial Crisis, the role of natural resources within this economy, and Australia's response to global warming.

Professor Stiglitz travelled all over Australia for three weeks as the inaugural speaker for the Eminent Speaker Series, hosted by the Economic Society of Australia. The series has been initiated to provide an opportunity for industry professionals, government representatives and academics to hear from the world's leading economists in an open forum. - Australian Broadcasting Corporation

Joseph Stiglitz was chief economist at the World Bank until January 2000. Before that, he was the chairman of President Clinton's Council of Economic Advisers. He was awarded the Nobel Prize in economics in 2001. He is currently a finance and economics professor at Columbia University. He is the author of Globalization and Its Discontents and The Roaring Nineties.
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Marc Faber : Indian companies more attractive, easier to evaluate

On the sidelines of the Invest10 investment forum in Geneva, the editor of the Gloom, Boom & Doom Report told Reuters in an interview on Wednesday that ultra-low interest rates were making it difficult to value assets in developed economies, and that countries like Thailand, Singapore and Vietnam would do better short term.

“US and European interest rates are negative in real terms, the rate of inflation is significantly higher than what governments are saying,” Mr Faber said. “You can see it when you pay for your insurance premiums, your groceries, your child’s pre-kindergarten schooling in New York there has been a loss of pricing power for most people.”
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