Joseph Stiglitz recently delivered a thoughtful lecture on reforming economic theory at George Soros’ Institute for New Economic Thinking (INET). Stiglitz’s proposal ignores theories like the efficient market hypothesis that, according to him, got us into the crisis, and rather focuses on the realities of the market.
Click here for the slideshow.
I have previously posted the video clip, but do so again in order for readers to follow Stiglitz’s speech while reading the pdf document.
Source: Institute for New Economic Thinking, April 27, 2010.
